May 23 2010, 09:28 PM
I don't know if I'm old fashioned or outdated but here's my take.Technically, I would say it's an insane move to take 400k of debt for a piece of paper.TS stated it as investment for future.
QUOTE(ccm123 @ May 23 2010, 06:46 PM)
Call it an investment for my future, it might be a huge amount for now, but who knows 1 day it will yield something far greater than that?
Even then, he cant confirm whether in future, he can yield in something greater than that.It's a big risky "investment"The 400k as stated, is pure loan fund, excluding interest.If the interest rate is 7.45% as stated, for more than 15years(20years for JPA loan), then it's far greater than just 400k in debt.You do the maths.
TS also stated that The remainder of the figure might come from family/relative borrowings, which sums up to 400k.So, in conclusion, you owe more than three parties money for the sake of studying overseas.
TS then followed up with his reasons of why he is keen on a UK move rather than a SG move.
QUOTE(ccm123 @ May 23 2010, 06:46 PM)
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.
Firstly,mathematically, you might be able to pay the debts by working there.However, I think you should have taken everything in consideration before you make your decisions,including the future uncertainty.No one is sure of the future.Now and then, the cost of living is increasing and whether you can earn that much to repay your debt remains unknown.On paper, it sounds possible.In reality, it might not be the case.If I'm not mistaken, they just enforced a new tax rate that is much heavier than previous years, you might not be able to earn much anyway.Go and check it out yourself.Try ask google.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.
QUOTE(ccm123 @ May 23 2010, 06:46 PM)
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.
Secondly,If you are talking about just securing job, NUS grads secured their job successfully after graduation with no problem.That can't be the reason why you are going there, isn't it?QUOTE(ccm123 @ May 23 2010, 06:46 PM)
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!
No one is denying you a chance to experience the new environment in a new country.Like most have suggested, you can take your master in UK instead of spending 3 years in UK and get yourself in a huge debt.Or you can choose to do twinning(not sure if your course have it) like 2+1 ...which spend lesser time there and indirectly reduce the cost.It's common sense that the longer you are staying there, the more money you will have to spend.I don't know what happens to kids nowadays.You are not the first I met that took bank loan for the sake of studying overseas.There is this one malay saying that you guys fail to understand. "Ukur baju di badan sendiri".If you can't afford, dont go for it.You think only you will suffer.You forget though, that your parents have to suffer with you because of your unrealistic dream of experiencing new place to study.The financial burden on them, can you imagine?
I have no intention to change your mind as I can see you are all set and pretty determined to go there but let me just tell you one simple thing.
Ranked 1st university or not, new environment or not,you will be in heavy debt.That's for sure.You graduate,come out after enjoying 3 years, experiencing new stuff but you suffer for the next 15-20 years because of your debt.While your friends who grads from local uni which do not even ranked in top100 university, enjoying their life like usual...Buy new car, buy new house...and you?Just another oversea grads heavily in debt.
P.S: Meant no offense but that's reality you should know.
This post has been edited by solstice818: May 23 2010, 09:29 PM
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