First of all...I am comparing apple to apple. They are all graduates. Regardless of which university they come from. Many come from UK universities where their parents have paid for their education in total. Many have repeated their studies after failing one year or more.

Parents drove these kids to take these degrees not because they are interested but because that is what their parents want. A child with a degree.  If my daughter wants to be a doctor and has the ability to study and get the necessary grades to achieve her dream then she will definitely find a way. But if she gets mediocre results I am not gonna spend 1 million just to put a piece of paper in her hands. That just means that is not for her. She is bound for other things in life. Simple as that.

BTW if my daughter gets accepted into Harvard, she won't need my money. She will definitely get a scholarship.

Lets address this.

1. If your kid manages to get accepted into Harvard, but were unable to secure any scholarship. Would you tell them, sorry life sucks settled with UM instead? Perhaps some might, but I'm of the opinion i shall give her the chance.

2. You are right, an ordinary degree is no longer a guaranteed career path. But without a degree, statistically is even worse, do you agree?

3. Non degree holder is thriving better then ordinary degree holder. Statistic disagree with you on this. Sure we all heard of the rags to riches story, "mr XYZ who managed to be a millionaire with just his SPM". What are the percentaged of these people making it? Did you hear of the other 99% which is currently in the B40 range cause they only have a SPM?

4. Industry is fast changing etc etc, sure everything is fast changing. Are you trying to say that those without a degree will adapt better then those with higher education? If there is any relation, i would say uneducated ones are the ones being left behind.

Infact you see fresh grads in LYN complaining that they are getting RM3k a month as starting salary, do you want your children to go thru this? Cause I know that if you have a decent education (i.e. ivy league uni) you start off at a much higher level and would be better positioned to have a fast track thru your career. Ofcourse there is no "guarantees" in life, but in general those who are better equiped with the right tools does a better job than those that starts with nothing.

Let me leave you with this. It might not be right, or morally acceptable, but today's capitalistic world is harsh

Also those who came to work for me and did not cut it, many from universities such as Manchester, Liverpool etc. The two that have stayed on permanently, one is from a local university and the other is from a twinning college. Both have one thing in common: They came from difficult family backgrounds and really wanted it.

I actually do not understand why people tend to think.

Poor kid = Street smart, innovative, go getter, hardworking, <insert any good quality>

Rich kid = Dumb, lazy, sloth, only relying on parents etc etc

I really dont see how this kind of stereotype comes about. For all we know. the rich guy might be the one with all the good qualities while the poor kid has all the bad qualities.

I personally have some very rich friends, I'm talkign private jets kinda rich. And they are not rich lazy snobs that everyone assume them to be, but maybe people tend to have that kinda perception cause they are not close to these people... and i dont blame them cause they do not easily allow people to enter their inner circle of friends..

1) As said, if the kid is indeed brilliant, no problem to spend big.
But if the kid can enroll into Harvard, it should be no problem to get some scholarship, funding required, no need to spend as big.

2) Without a degree, the kid may need to work hard and may willing to accept anything in their path, instead of mindset I have a xyz degree, I won't do this do that or tell me to do this job as degree holder, no way or too little salary as degree holder.

3) B40 may not have a degree due to no rich FAMA to support them in the first place. Even those degree holder is jobless, they won't become B40 due to rich FAMA. Nowadays you have money, you have a degree already.

4) The point is degree has nothing to do with this. We are not talking of total uneducated, we are talking using money to push the kid to get a degree instead finish school with SPM or diploma.
In fact, the jobless stat is higher with an ordinary degree than ordinary a skillman.

Fundamentally, we are not comparing total uneducated vs degree holder.
I am more towards discussion whether to support the kid to go for an ordinary degree by spending big money, or just let the kid finish their diploma or Vokansional school at cheaper version or let the kid build up their path according to their strength.

My view,
If 1M is not enough for the education cost, then might as well drop the idea. <--- so yes or no to education?

Kids need to learn how to gather education fund themselves, it is process of growing up. <--- so they cannot find funds no educaiton to them?
If the kid indeed brilliant in study, there are various scholarship and channels to fund the education nowadays, may not need as much as that.

Nowadays, getting a ordinary degree is no longer a career path guaranteed, which in return may "trap" themselves in career path. <--- so we dont need a degree?

<snip>

Have you considered that perhaps the cream of the crop didnt choose to apply for a job with you?

Anyway, it seems we have drifted quite far away form "Finance,Business,Investment" so I'll leave this as it is.

Holidays are educational. She learns a lot from visiting different countries, museums, heritage and historical sites, mixing with the locals, learning to communicate and travel. Working on her social skills. My daughter at 16 can navigate many countries on her own as we do research and learn the basic language of each country before travelling.

So in summary.

1. If your daughter is unable to get the funds,, then her dream of being a doctor will be crushed, despite she having the academic capability.

2. If she gets accepted to Harvard, but without a scholarship, she can forget about it and find a local Uni instead.

Well, if your choice is tough love, then so be it, to each their own.

I would liek to say i will not be subscribing to your method. If my children is in the above 2 scenario, they WILL be a doctor/harvard graduate.

ps : As to your claim of "definitely will", well... i'm glad you can definitely predict the future.

Eh just like not all poor kids are hardworking, not all rich kids are lazy but rich kids did not make their money. Their parents or family did. My maternal side  I have rich cousins....no private jets but they take 1st Class. My uncle probably earns RM500K a month. They are all working with my uncle in his company and have degrees from UK universities paid for by my uncle. My cousins have to work for my uncle because they can't earn as much as him and of course they need to inherit the business. Are they lazy...not more than others but they definitely don't have to work too hard for their money. Also my uncle has to constantly hire outside help including yours truly because my cousins aren't capable enough to run the company yet.

My daughter does not have that inheritance like my cousins. So she has to work hard. If she wants more then she will work hard and achieve her dreams.

But our differing views stem form the initial fact that i am of the opinion that I've prepared a fund for my child's education if and when she needs it.

While you are of the views that if your child cannot pay for her own education, she will be thrown to the dogs and thats that.

So, if both our daughter is academically proficient enough to get accepted to Harvard, and they both managed to get scholarship, then they both end up there.

While if both of them failed ot get a scholarship (no matter the reason), only mine will manage to go cause her parents is ready to supoort her, while yours will have to find a spot in the local U.

Is this correct?

ps : Pls dont start with "poor will work harder, rich will be lazy" that is the kind of assumption with no basis whatsoever.

1. If she has the academic ability she will get the funds. No academic ability but dream to be doctor, won't get funds from me

2. If can get into Harvard, sure will get funds (you should know this lar. I also got offer from Kings College, full ride)

3. Good luck to you lar...your son/daughter get 2 As want to be doctor and get into Harvard (which is totally impossible as to get into Harvard a perfect score is a given) then you pay lar 1 million. If fail first year because cannot pass then you pay another 1 million lor. Maybe can enter Pseudo-Harvard or Paper Mill University...then you can pay another 1 million

But our differing views stem form the initial fact that i am of the opinion that I've prepared a fund for my child's education if and when she needs it.

While you are of the views that if your child cannot pay for her own education, she will be thrown to the dogs and thats that.

So, if both our daughter is academically proficient enough to get accepted to Harvard, and they both managed to get scholarship, then they both end up there.

While if both of them failed ot get a scholarship (no matter the reason), only mine will manage to go cause her parents is ready to supoort her, while yours will have to find a spot in the local U.

Is this correct?

ps : Pls dont start with "poor will work harder, rich will be lazy" that is the kind of assumption with no basis whatsoever.

You also never read properly. Fail to get scholarship means not good enough lar. Haiyo....do something else lar. I still subsidise 30% mah.

1. Again there is no basis "she has academic ability she will get the funds". Atleast you clarified no funds no education.

2. See above. Grats on your scholarship, alrdy mention 20% of those in harvard gets full scholarship, if your daughter is in the other 80%, well, local Malaysian U is quite good as well.

3. Again groundless assumption. I'm sure there are better ways to "try" to put your points across without assuming stupidity in others.

Fail to get scholarship means not good enuf?

SO I suppose more then half of all those in Harvard, Oxford, MIT, Cambridge etc etc are not good enough.

Ok, I'm sure you are the foremost authority in this subject, being a king's scholar and all. 

Maybe not but we are not talking the cream of the crop here. We are talking about paying for a degree despite the child not being able to get his/her own scholarship.

1. If she has academic ability why no funds??? If she gets straight As she will get funds. I did. If get mediocre results then why I want to pay 1 million to send her overseas?

2. Sorry you don't know much about Harvard right? Every Malaysian that got into Harvard had a scholarship..

3. What to do? You only choose to read what you want and make assumptions. Sometimes we have to assume stupidity when it is staring at you in the face

There's nothing wrong with your plans and actions for your daughter. Certainly nothing wrong with your opinions against those Fresh Grad you hire. There are elements of truth in this (and your opinion is formed based on what you experience). I have friends who came back from UK (some working hard, some not as hard) so it depends. There are definitely those that are incapable and lazy due to their family bg (vice versa there are those who aren't).

Pay no attention to some ppl who criticize your actions, very hypocritical and narcissistic - blowing their own horn but only empty noise comes out. 

However if whoever who wants to support their kids go ahead, everyone has their own choice. If you are incapable, don't force the issue though.

Clearly you don't know anything about academic admissions. You better get to know more. If your kid scores straight As you can save your 1 million.