Yes, the answer is no....
I don't even have a degree when I started working in Singapore.... I remember my starting pay was just $1300 as a PC technician.
After that go study part-time, gotten my IT degree only at 36yo..... Then after that go study masters in business management. Completed it at 42yo... Now, 44yo. Next year, going for study phd.... its jsut for personal goal. No doubt I am slower than many pple and even many many singaporeans/malaysians, by my salary is still pretty decent for my age, after including bonus, I get around $7800 a month. Now assistant maanger managing IT-dept in my company.
I saw a thread about parents sending kids oversea to study blah blah...Do you really need it? NOPE..... IF you intend to let your kids work in SG, then degree is not necessary. Can start working first. Then study part-time later. The best thing is that you can even get company to sponsor your studies (I didn't).
My colleague (Malaysian Work-permit), is doing his diploma at SIM now. ITs fully sponsor by my company. Just that he will be bonded for 6-months (meaning cannot quit within 6-months after completing studies). So, if you are good, there are many companies who are willing to sponsor your studies and groom you. Even help you apply for PR (if you wish to stay in SG for long term).
So, don't need to worry at all......