wow.. ok go all out to UCL then. its number 4 mind you. NUS is merely 30. you know what PM Lee's son ditched NUS for oxford and since UCL is ranked higher than oxford.. you get the drift.

the rest of the comments please look at my previous post.

This post has been edited by icycokes: May 26 2010, 03:58 PM

Well, if somehow there's no cash to support you in your year two, you can always work part-time.

According to my mom, education is a worthy investment.

I'm not jeopardizing my parents savings, in fact they have no savings to begin with. What I'm afraid is to drag them into a financial burden should any unforeseen circumstances arises, which after much consideration, I decided not to pull them in.


Umm, as much as economics is concern, it is only a theory in logic. I could relate economics with this "investment" if I wanna call it as one, but apparently my previous post stated that it was a dream/ambition/goal, and I believe it is usually difficult to achieve and sometimes correlates with the some outrageous goals.

But in this case, since most people have made their remark clear and strong, it's not such a worthy investment afterall.

What really intrigues me is that why economics ?
I understand of choosing the best school for your dream subject cos its perfectly normal, but what drives you to this subject in the first place ?

I was given a similar scenario in my youth, a scholarship to UK. Yeah was happy and all that but does not provide other stuffs like living and accomodation, food ,..... and that does not come cheap. I got 2 cousins study at UK under govt scholarship for medic have to survive with maggi mee everyday.

So I just choose a cheaper and riskier alternative by opting to skip degree entirely by going straight for prof qualification namely acca. This comes straight after I was honored as state scholar student. Everybody ask why to take such risky move and highly unorthodox maneuver. I told them I choose and live my own life and I will be responsible for the failure / success.

But like i said, life is not easy. Even after you finished your education you will start from scratch when start working. Thats where you will suffer for few years before gets recognized. Happens to all profession like doctors, engineers, lawyers, architects, accountants,....... you name it. Unless your parent is rich lo.

My opinion is, if you are very sure of what you want just go for it. Ignore the others. But you gotta LIVE with your own decision. All successful people are risk takers by nature. But are you ready for it ?

Lemme see....Where do I start?

Let's start with the choice between UCL and NUS. I know what you mean by wanting to have a western education and the experience that you will get. NUS no matter how good will not bring that set of experience. The way one thinks will be different too. I know, I can see how myself has changed. I sometimes think if my experience would have been different if I went to HK or Singapore for my undergrad, I guess I wouldn't know.

UCL is a great school but nevertheless not the best, certainly not something that deserves an arm and a leg. If it was LSE, then you might be able to justify spending RM400k. UCL is not Stanford or UPenn or Chicago. Having a first degree from UCL will not guarantee you a job in the UK even if you come out tops in your program. Coupled with the fact that immigration is strictly enforced, you might just find yourself back in Asia. If you are lucky a job in HK or Singapore otherwise, Malaysia. Judging from that, this is not a wise investment decision.

NUS doesn't measure up to UCL in many aspects but it certainly is a catch when it comes to costs. A first degree is the same regardless of where you go barring Harvard, Princeton, Yale yadda yadda. Those schools are not the same in the sense that even if you are the best, you might not necessarily get in. They are in a different universe altogether. Because the differences between the BSc's from NUS and UCL are minimal, there is really no point in spending that sum of money.

At this juncture, you wouldn't know if economics is your cup of tea. You are drawn to it now but can you say with certainty that 3 years from now, you will have the exact same feelings about economics? Imagine you went to UCL and you realised that economics is not something that you like after your first year, instead finance is something that interests you. But you have already piled up RM100k of debt and to switch courses will only increase the debt but to continue in a program in which you have diminishing interest will only spell torture for the remaining 2 years. Why make yourself poor and miserable? If you went to NUS and the exact thing happens to you, you would probably incur a lower cost no matter what you do.

If it turns out that you are an economics beast, then even if you went to NUS, you will definitely get into say Chicago or LSE for your MSc and or PhD.

From a cost-benefit point of view, NUS is a better choice. Given the financial situation that you are in.

You mentioned a great point over here, but I'm the kind of person who will finish what I've started, so switching of course would be unlikely unless I have a dire need to do so. Anyway I have decided to head to NUS at the moment, unless I have been offered a scholarship to study there

Thanks for the opinion and advices everybody So, until miracle happens!

You can never be too sure. University is a different ball game.

Don't worry, you have not made a wrong decision. Look forward to it, go with an open mind. You will never know what might be heading your way. I certainly did not expect to pick up a language. You will be close to home, food is good ,weather is good.

I get what u mean And did I tell you how much I appreciate it?

Anyway, I presume you're currently studying abroad as well? Speaking of weather, part of the reason I wanted to go UK is also due to the weather, coming out someone who've never experienced winter/snow before, but don't get me wrong. I didn't choose UK just because I want to be in a four season country. It's just part of the minor reasons XD

Those are general reputation. Better to look at ranking for the particular course you are interested in.

Fair enough.

You don't go to the UK for snow. London doesn't have any snow in normal circumstances. If you want snow you have to go to Canada and Scandinavia. Those places really snow. Avoid Australia too. A friend of mine in Melbourne remarked, I don't know why I came to Australia, it doesn't feel like studying overseas, no snow and all asians........Swanston street is full of Asians........

You want culture you don't go to mainstream places like UK or Melbourne..you go Switzerland/Germany.

there is a reason why people who talk about attempting to get a job in the UK are scoffed at - it's not easy. There is no guarantee that you'll be able to get a job in the UK after you graduate, which will only bring you back to Malaysia in a RM400k debt and you'll spend god knows how many years trying to pay that back working in Malaysia. As much as the UK sounds very inviting/promising for a better future,

Go to Singapore.

I guess you never been UK before.

Snow?
You barely see the sunshine for the whole year. Sunshine is something premium/luxury at there.
I only experience once snow, just barely last for 10-20 minutes.

Winter is not something enjoyable, if you have been there before.
The "cold" make you don't want to go outside. It is not like in air-cond room at all.

Please focus on your consideration on your 400K loan issue.

Whatever weather shouldn't be in the consideration even minor one as well as those culture issue. If one has the luxurious choice i.e. have money, then different story.
Fyi, UK weather is not something "enjoyable"

Tax rate is 40-50% there, so even your wages is high, take home wages might not.

My experience
Food was cheap there, relative to their earning, as a large loaf only cost 12p (which last me 3-4 days) at that time (I believe it is now cost more but still cheap relatively to there), frozen pizza 1 pound.
Room will be the single most expensive expenditure there for living expenses.

I do hope you consider well, as this is just an undergraduate degree in economy, if like those medicine, specialised field, then it might have a good case of taking up such a loan, but economy degree can take 1 year in post-graduate as well. While in real working environment, good degree in economy doesn't make one a good economist. All financial and investment abnks are looking for good performance, good experience and track record person in head hunting.
Degree is not something very important after one involves in real working environment.
After all, NUS is not something bad to start with as well.

It is not like must have 400K loan in order to get a degree or risk of no degree at all.

All still depend your decision as taking different path will lead to different destination. There is no guarantee good degree ended good career or good life afterwards. Some without degree can be even more success in real life career.

Anyway, just my view. Don't mean to encourage or discourage on your decision or intention, all depend on your thinking and decision. Just throw out some experience and view.

Dear thread starter, I can identify with your problem.

I was in the same position: I have secured offers from Drake University (Iowa, USA) & Uni of Waterloo (Canada) to complete my degree in Actuarial Science. I am currently in my last semester of the American Degree Transfer Program, and have had to make the same decision that you are making now.

I prepared for the most PROBABLE outcome, which happens to be Drake. The reasons are financial:
(i) Drake is cheaper (USD35k/year), while Waterloo is expensive (CDN32k/year)
(ii) Drake requires a further 2 years of study, while Waterloo requires 2.5, more likely 3.
(iii) Drake provides scholarship (almost USD9k/year), while Waterloo makes no such offer.

However, Waterloo is to me what UCL is to you. This is because Waterloo has a better program, is more highly regarded, and provides me with the opportunity to work full-time during the summers. But I cannot, in good conscience, take up Waterloo's offer unless I am able to receive JPA or some other form of financial assistance. I assume you intend to try for the "biasiswa ivy league dan setara" loan from JPA.

Thus, my advice to you is to prepare for the worst possible outcome. IF you secure the first loan, but not the other, can you complete your studies? If you run short on cash, is part-time work going to cover it? If, God forbid, some emergency arises that requires you to spend say RM10k, are there people (wealthy relatives) you can turn to?

We all aspire to be the best, and sometimes we are. So don't feel discouraged if you don't make it to your dream school. Hell, one day one of us just may end up teaching there.

Best.

EDIT: Everyone here is making an issue of study loan debt, but I don't believe you should be too concerned. I would be much more concerned about OBTAINING the loan in the first place. If you feel that you can justifiably default on the loan if you simply can't repay it, then I certainly will not blame you.

This post has been edited by katana18: May 29 2010, 10:07 PM

@katana18
Er.. its quite different IMHO. The difference between Drake and Waterloo aint 400k.

Being offtopic, I'd take Waterloo due to Canada's more lenient working permission and ability to apply for PR upon graduation

That is true.

Coming out of UW with a quantitative degree makes it easier to get a job in Canada. Canada is not the UK, the rules are not strict. All paper work.

Actually guys, sorry for digging out this thread. But I have another situation currently. I've just received an offer from Uni. of Melbourne for a 100% tuition fee remission, but before this I have decided to head to NUS.

My problem are as of below;
1) High living expenses. Melbourne is not cheap to live in, and it would require an annual expenses of about $15000. But lucky for me, I have an aunt who stays there and maybe I can move in with her, so that I could save up for accommodation, so after deducting that, roughly how much do I still have to fork out?

2) Would you choose NUS over Uni. of Melb? Btw, I was offered to do Commerce in Melbourne uni.

3) What are the job opportunities in Melbourne like? Is it really as bad if compared to UK?

Opinions and ideas are welcomed

What happened to your love for Economics?

Now if im not mistaken, we asa oversea students can no longer apply for the bridge visa to apply pr after graduate. Jobs opportunities here require at least pr, including internship. Gvt now is trying to control inflow of immigrant from oversea. Check out the SOL list from the immigration website. New one has just came out not long ago. Economist is not included. Still, NUS would be much better choice than Uni of Melb. Living cost is also higher than Singapore. Weekly rent is equivalent to 1 month room rent in Singapore. Ask more from Study in Australia thread. There are more experience students there. Many of them are in Uni of Melb such as Hihihehe, ostangle etc.