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 Would you spend 400k on your tertiary education, and be heavily indebted after that?

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feynman
post Jun 2 2010, 10:37 PM

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QUOTE(ccm123 @ Jun 2 2010, 09:25 PM)
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 smile.gif
*
If you can save a big chunk of money by going to Melbourne, then go. After all, it gives you an opportunity to experience a different culture.......if and only if you seize the opportunity.

If you aunt agrees of housing you, then I'll estimate $700 would be enough for a month. However, you might want you privacy and living with a relative when you're at university doesn't work out most of the time. E.g bringing a girl home, coming back late etc.....

Jobs down there are as bad as the UK. Not that you are bad but the system prevents people like us from seeking jobs. So don't bank in on anything.

This post has been edited by feynman: Jun 2 2010, 10:38 PM
TSccm123
post Jun 2 2010, 10:52 PM

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QUOTE(Syd G @ Jun 2 2010, 09:29 PM)
What happened to your love for Economics? smile.gif
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I will still be majoring in Economics in Uni. Melb. Just that it would a Bachelor of Commerce degree majoring in Economics.

QUOTE(feynman @ Jun 2 2010, 10:37 PM)
If you can save a big chunk of money by going to Melbourne, then go. After all, it gives you an opportunity to experience a different culture.......if and only if you seize the opportunity.

If you aunt agrees of housing you, then I'll estimate $700 would be enough for a month. However, you might want you privacy and living with a relative when you're at university doesn't work out most of the time. E.g bringing a girl home, coming back late etc.....

Jobs down there are as bad as the UK. Not that you are bad but the system prevents people like us from seeking jobs. So don't bank in on anything.
*
Well one thing about my aunt is that she is still single and usually she works night shift. I mean don't get me wrong for all the wrong things though blush.gif

I will do more research on the job prospects.

Actually both NUS and Uni. Melb would require me to loan, and my rough estimation is that both loans would generally amount to the same figure, I.E MYR100k for all 3 years of studies.
chelsh
post Jun 2 2010, 10:58 PM

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just a curious question, LSE rejected you for what reasons?
TSccm123
post Jun 2 2010, 11:25 PM

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QUOTE(chelsh @ Jun 2 2010, 10:58 PM)
just a curious question, LSE rejected you for what reasons?
*
No reason, and I have no idea why. It was said that UCL's entrance requirement is even higher than LSE. I guess maybe my personal statement wasn't impressive enough? I've got all 4 offers and rejected by LSE.
Seiryu
post Jun 3 2010, 01:43 AM

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Glad that things are much easier on you now.

I'd say go to Melbourne! It is an awesome university in a great city. Stay with your aunt and work part time to support yourself. Maybe get some allowance from your parents too; you'll be more than fine financially.
ykaccess
post Jun 3 2010, 03:18 AM

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QUOTE(ccm123 @ Jun 2 2010, 09:25 PM)
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 smile.gif
*
Hi TS, i am curious..how did u manage to get the offer with 100% tuition fee remission? smile.gif


I would definitely choose Uni of Melb over NUS.

Job opportunities wise..it's hard to get a job without PR..and to apply PR your nominated job must be in SOL..and even then the processing for PR for certain jobs in SOL can take up to 2.5years compared to 6months processing for jobs in critical skill list (eg.engineering).



TSccm123
post Jun 3 2010, 03:04 PM

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@ykaccess: Hello, it was awarded based on merit, up to 10 scholarships were given to all international applicants.

So to speak, I think I'm really lucky to be one of them.

The thing about this is that, if I go to NUS, I'll still have to loan (I don't have a scholarship there), but as for Melbourne, I have a full fee remission, and also have to loan, both would equate to the same amount. So it's like, scholarship vs no scholarship.
Syd G
post Jun 3 2010, 03:06 PM

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@ccm123
Since the consequences changed, I'd go to Melb instead. You'll have permission to work for certain hours every week - try to cashflow your life on that instead.
ykaccess
post Jun 4 2010, 01:37 AM

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QUOTE(ccm123 @ Jun 3 2010, 03:04 PM)
@ykaccess: Hello, it was awarded based on merit, up to 10 scholarships were given to all international applicants.

So to speak, I think I'm really lucky to be one of them.

The thing about this is that, if I go to NUS, I'll still have to loan (I don't have a scholarship there), but as for Melbourne, I have a full fee remission, and also have to loan, both would equate to the same amount. So it's like, scholarship vs no scholarship.
*
10 scholarships for international students every semester? you must be super high achiever tongue.gif

but yeah..if i were you now. i would opt for melb uni instead. nice environment though the living cost is expensive.

and like Syd G said, you can work part time to earn some cash. since i believe commerce course have much less contact hours compared to courses like engineering etc.

after study, you can possibly apply TR to work there. given if your results are superb, you still stand a chance to obtain a job there even if you do not have a PR. well..lucks play a role too..but..the key is stay positive! nothing is impossible : )

im sure you would have googled pictures of the surroundings in melb uni, melb city etc.. you can compare with NUS and see which environment you would prefer too.

hope you made the right choice! biggrin.gif

fenzodahl512
post Jun 4 2010, 02:39 AM


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You are one hell lucky person don't you know that? Got offers from UCL, NUS, U of Melbourne.. All are top unis..

If I were you, I'm surely don't want to be in 400k debt after graduated, but U of Melbourne seems very tempting..

Just spend one day alone with your closest friends and family members and have a deep talk about it with them.. Then follow your heart (and your brain).. You can't go wrong with either choice.. Just make sure you study hard and don't get into any sort of mess..
youngkies
post Jun 4 2010, 09:07 AM

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Too long to read.

My opinion, your first option for UK is not worth it.

UK economy, not very healthy at the moment, and the near future. Europe economy is even worst.

Weekly wage of £600 for a economy graduates is over-rated. That is more of a employee with good career pathway of 5-10 years working experience.

Being international student and at such a competitive job field, it is very hard to get a job.

Political unstable at the moment, probably unfavourable of immigrant.

My point is, not worth the risk of having such a debt without the security of having a job when you graduated.
Hikari0307
post Jun 4 2010, 10:26 AM

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UK is indeed out of the question, Uni of Melbourne is very tempting.If if I were you I would be very tempted to go to that Uni, your very lucky to have offers from so many top universities and if it would cost about the same I would choose Uni of Melbourne over NUS academically it may be about the same but Melbourne will bring you more special life experiences and you can work for 20 hours a week during your studies and unlimited hours during semester breaks under a student visa in Aussie if I'm not mistaken. Though the choice is still totally up to you.Sit and discuss this very thoroughly with your family while taking everything into account then go over everything if it's still about the same than with your brain I would suggest to go with your heart and see which interests you more.
Joey Christensen
post Jun 4 2010, 10:41 AM

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A piece of advice: Please don't mismatch between expectations and reality. Did you know, students are using credit markets, in part, to smooth their consumption over time.

An oversupply of easy, cheap money (but in your case, it's a whooping RM400,000?) could well lead you into difficulties later in life. Based on my working experience, there's plenty of young people may be entering university based on unrealistically high expectations. Sad but truth shall be told.

You might be trapped in financial woes and running up substantial debts but earning less than what you have expected. This may be further exacerbated with your own unrealistic, gung-ho thoughts.

You might think I'm rubbing in a little here but food for thought, eh?

Regards, Joey
TSccm123
post Jun 4 2010, 03:46 PM

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QUOTE(fenzodahl512 @ Jun 4 2010, 02:39 AM)
You are one hell lucky person don't you know that? Got offers from UCL, NUS, U of Melbourne.. All are top unis..

If I were you, I'm surely don't want to be in 400k debt after graduated, but U of Melbourne seems very tempting..

Just spend one day alone with your closest friends and family members and have a deep talk about it with them.. Then follow your heart (and your brain).. You can't go wrong with either choice.. Just make sure you study hard and don't get into any sort of mess..
*
Well yes, I know UK is out of the question, unless with a scholarship funding actually I should re-edit the topic since that I have decided not to spend that amount of money for the sake of achieving my dream. I'm still in the midst of discussion with my family, and generally I think they would support my decision where ever it may be.

QUOTE(Hikari0307 @ Jun 4 2010, 10:26 AM)
UK is indeed out of the question, Uni of Melbourne is very tempting.If if I were you I would be very tempted to go to that Uni, your very lucky to have offers from so many top universities and if it would cost about the same I would choose Uni of Melbourne over NUS academically it may be about the same but Melbourne will bring you more special life experiences and you can work for 20 hours a week during your studies and unlimited hours during semester breaks under a student visa in Aussie if I'm not mistaken. Though the choice is still totally up to you.Sit and discuss this very thoroughly with your family while taking everything into account then go over everything if it's still about the same than with your brain I would suggest to go with your heart and see which interests you more.
*
Thanks mate smile.gif I will consider that.


QUOTE(Joey Christensen @ Jun 4 2010, 10:41 AM)
A piece of advice: Please don't mismatch between expectations and reality. Did you know, students are using credit markets, in part, to smooth their consumption over time.

An oversupply of easy, cheap money (but in your case, it's a whooping RM400,000?) could well lead you into difficulties later in life. Based on my working experience, there's plenty of young people may be entering university based on unrealistically high expectations. Sad but truth shall be told.

You might be trapped in financial woes and running up substantial debts but earning less than what you have expected. This may be further exacerbated with your own unrealistic, gung-ho thoughts.

You might think I'm rubbing in a little here but food for thought, eh?

Regards, Joey
*
Hello, actually it has come to my realization that the point of starting this thread is due to my ignorance and irrational thoughts to achieve what I've wanted so badly, so after being "awakened" by so many people who shared their sentiment, I have agreed to ditch that absurd thinking of mine, and focus either on NUS or Melb instead.

Thanks smile.gif

hannna
post Jul 2 2010, 10:34 PM

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Not sure if you've decided but, here's a thought that hasn't been mentioned: you could do a year abroad/student exchange thing. I'm quite sure universities like University of Melbourne or NUS have links to the UK! smile.gif

To answer the initial question, yes. but then again, my circumstances probably differ from yours.

This post has been edited by hannna: Jul 2 2010, 10:36 PM

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