May 23 2010, 06:54 PM
QUOTE(ccm123 @ May 23 2010, 05:22 PM)
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Hello, I presume you clicked this thread due to the thread title which might have caught your attention, and no it's not a prank, it's something which I MIGHT be going through, and I will really appreciate and positive and constructive comments from anyone of you.
To give you a brief insight of what is this all about, I have currently two options to go for:-
1) United Kingdom - University College London
2) Singapore - National University of Singapore
Fyi, I'm going to pursue economics in both university, where I have already secured unconditional offers from. I have applied to almost every available scholarship out there which provides overseas education funding/sponsorship, but so far the chances of securing one seems to be diminishing, and it has come to my realization that I'm in need of a back up plan, because I do not want to jeopardize the dream which I have planned and worked hard for so long already.
So, in order to finance my study in UK, I have calculated a rough estimation of 400k (at the current currency exchange rate) for my 3 years study there which ought to be pretty sufficient for my life in London, where the first 200k would come from a loan through Bank Rakyat - offering a max of 200k loan with a 7.45% interest rate p.a and a repayment of 15 years, and on my second year onwards I'll apply for JPA overseas loan which covers the 2 years remaining tuition fee which is interest free at the repayment of 20 years. The remainder of the figure might come from family/relative borrowings, which sums up to 400k.
Generally speaking, I'm more inclined towards the education in UK, and I'll base this on the following reasons;
1) UK's wage rate are much higher. If I were to study there, chances are rather high that I will work there, or rather I should say, I must work there. The weekly wage rate would be around 600GBP and above (so i've heard) which I believe is more than enough to cover the installment of the debts I owe, in terms of ringgit. I understand that if I were to come back and work here instead, I'll probably be buried alive by the debts I have incurred, so it would be a dumb idea if I chose to return.
2) Of course you may want to mention that competition are tough, especially when one is an international student who will be competing with the locals (UK citizens). But the uni I'll be attending - UCL in this case actually have a report which tabulated a 95% of their candidates were able to secured a job successfully after graduation (some even before graduation) I believe there is a certain amount of credentials from that report, judging that it's one of the highly ranked universities.
3) The experience - yes, something that I've been wanting for a change! I'm so accustomed to Malaysian's lifestyle and I really want a change be it in environment or the people around me, to learn things and explore things and the world on my own, where I believe it'll leave a great impact on me, and in everything! Plus the fact that I'm enrolled in the uni which is ranked the 4th of in the world (according to Times Higher Education) is what intrigued me to study there even more!
However, my concerns are as follows;
1) How difficult is it to secure an employment opportunity in the UK? My friend told me that the new prime minister is a conservative, and conservative do not favor migrants. Is it really that difficult for a foreigner to secure a job there, even if I graduated from their local college/uni? Especially when I'm in the field of economics?
2) Is it worth to spend 15-20 years to repay ur debts for only 3 years of education? But then again, since interest rates are fixed and if the UK currency appreciates or there's mild inflation by the time I'm working there, I repay less in real term (in terms of pounds to ringgit), so may I argue that it could be a positive investment in the long run?
3) The risk involved. Yes, economy changes very fast, and like I mentioned earlier the JPA oversea loan would only be available on my 2nd year onwards, and because they have a rather closed policy in working at things, I am afraid that such schemes might not be available by the time I reached my second year, though they are actually recommending people to opt for that schemes when a student are unable to secure an overseas scholarship.
So, what should I do? I'm still applying to any scholarships available out there, in fact I might be writing letter/emails soon to big corporation asking for sponsorship, though that could be quite unlikely, but I just want you guys to know that, I really worked hard to achieve my grades, and obtained admissions from some fairly reputable universities. In fact I'm even willing to take the risk even if it might seem to be a road with no return, call it stubborn or adamant, but it has become more than just a goal I wish to achieve, it's something that I want to achieve.
Note: I'm a self financed student, I don't think my parents financial circumstances would be able to support my tertiary education, be it locally or abroad, but all these would not deter me from laying down my goals.
Oh btw, for an education in singapore, if you guys are aware, it has lesser risk involved, and an easier plus better financial aid schemes which is not offered unlike UCL, since it's a need-blind university, but as you can see, I'm still more inclined towards the education in the UK. So... opinion and advices please
To give you a brief insight of what is this all about, I have currently two options to go for:-
1) United Kingdom - University College London
2) Singapore - National University of Singapore
Fyi, I'm going to pursue economics in both university, where I have already secured unconditional offers from. I have applied to almost every available scholarship out there which provides overseas education funding/sponsorship, but so far the chances of securing one seems to be diminishing, and it has come to my realization that I'm in need of a back up plan, because I do not want to jeopardize the dream which I have planned and worked hard for so long already.
So, in order to finance my study in UK, I have calculated a rough estimation of 400k (at the current currency exchange rate) for my 3 years study there which ought to be pretty sufficient for my life in London, where the first 200k would come from a loan through Bank Rakyat - offering a max of 200k loan with a 7.45% interest rate p.a and a repayment of 15 years, and on my second year onwards I'll apply for JPA overseas loan which covers the 2 years remaining tuition fee which is interest free at the repayment of 20 years. The remainder of the figure might come from family/relative borrowings, which sums up to 400k.
Generally speaking, I'm more inclined towards the education in UK, and I'll base this on the following reasons;
1) UK's wage rate are much higher. If I were to study there, chances are rather high that I will work there, or rather I should say, I must work there. The weekly wage rate would be around 600GBP and above (so i've heard) which I believe is more than enough to cover the installment of the debts I owe, in terms of ringgit. I understand that if I were to come back and work here instead, I'll probably be buried alive by the debts I have incurred, so it would be a dumb idea if I chose to return.
2) Of course you may want to mention that competition are tough, especially when one is an international student who will be competing with the locals (UK citizens). But the uni I'll be attending - UCL in this case actually have a report which tabulated a 95% of their candidates were able to secured a job successfully after graduation (some even before graduation) I believe there is a certain amount of credentials from that report, judging that it's one of the highly ranked universities.
3) The experience - yes, something that I've been wanting for a change! I'm so accustomed to Malaysian's lifestyle and I really want a change be it in environment or the people around me, to learn things and explore things and the world on my own, where I believe it'll leave a great impact on me, and in everything! Plus the fact that I'm enrolled in the uni which is ranked the 4th of in the world (according to Times Higher Education) is what intrigued me to study there even more!
However, my concerns are as follows;
1) How difficult is it to secure an employment opportunity in the UK? My friend told me that the new prime minister is a conservative, and conservative do not favor migrants. Is it really that difficult for a foreigner to secure a job there, even if I graduated from their local college/uni? Especially when I'm in the field of economics?
2) Is it worth to spend 15-20 years to repay ur debts for only 3 years of education? But then again, since interest rates are fixed and if the UK currency appreciates or there's mild inflation by the time I'm working there, I repay less in real term (in terms of pounds to ringgit), so may I argue that it could be a positive investment in the long run?
3) The risk involved. Yes, economy changes very fast, and like I mentioned earlier the JPA oversea loan would only be available on my 2nd year onwards, and because they have a rather closed policy in working at things, I am afraid that such schemes might not be available by the time I reached my second year, though they are actually recommending people to opt for that schemes when a student are unable to secure an overseas scholarship.
So, what should I do? I'm still applying to any scholarships available out there, in fact I might be writing letter/emails soon to big corporation asking for sponsorship, though that could be quite unlikely, but I just want you guys to know that, I really worked hard to achieve my grades, and obtained admissions from some fairly reputable universities. In fact I'm even willing to take the risk even if it might seem to be a road with no return, call it stubborn or adamant, but it has become more than just a goal I wish to achieve, it's something that I want to achieve.
Note: I'm a self financed student, I don't think my parents financial circumstances would be able to support my tertiary education, be it locally or abroad, but all these would not deter me from laying down my goals.
Oh btw, for an education in singapore, if you guys are aware, it has lesser risk involved, and an easier plus better financial aid schemes which is not offered unlike UCL, since it's a need-blind university, but as you can see, I'm still more inclined towards the education in the UK. So... opinion and advices please
It is VERY SIMPLE. It is NOT worth the money to spend 400K in an undergraduate degree. Especially, economy degree. You will NEVER earn enough to pay back. Go to NUS.
A) If you are GOOD, you can get scholarship to study your master or Phd. Then, you can go to UK.
B) If you are NO GOOD, you have not spend 400K.
There are MASSIVE lay off in financial sector. And, that area probably will be in bad shape for many many years. So, getting job with economy degree is NOT EASY any where in the world. UK has massive unemployment NOW too.
Dreamer
Quote
Thing is right now till then, work on your salesman skill and how to live like a wealthy man- junior analyst jobs are glorified salesman (who earn more than any fella here replying to this thread).
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