farkula

Ok, I know this is asked somewhere before. But the more I researched, the more I get confused.

How much should we actually have in our bank account? I mean I have a personal saving (just for me) to use it for college that covers for one year. Now, I hear ppl say that you need to show at least for 3-4 years....

My question is, if yo have to show for 3 years, how do you know how much you will pay? I am on a need based financial aid, I srsly don;'t know how much i get next year. IN that sense must I pust full 60 k *3 in meaning i must havw 200+k?

Any1 with any experience?

THank

b@r!um

You only need liquid funds for the first year; but you should have a plan how to pay for the rest.

farkula

How will that work? Is showing that your sponsor have multiple companies etc enough? or must you then show your sponsor's bank acc and the company's revenue etc too...?

b@r!um

Odds are that they are not going to ask for documentation beyond the first year. But if they do ask, company revenue would be much more convincing than company ownership. Or even better, depending on the legal form of the company, his personal income. (Company revenue =!= the amount of money an owner can take out of the company, unless his company is structured so that there is no distinction between his personal assets and company assets.)

farkula

Thanks so much!