~ study loan ~

[snowangel]

hi everyone, at least i found out how to function this website...sigh~

erm.... im a STPM student... and b'cuz of these years matriculation students are increasing greatly, im one of those who are afraid that v can't enter our course in local u....

i understand that entering local University isn't a tough task... but getting ur 'dream' course is one of the tough one...

so, in the sake of my future ( ha~ ), my frens n i decided to search for overseas university, which we know our parents can't afford...

ahemm, here comes the PROBLEM... we are searching for study loan, and found that their interest are as HIGH as 1.5%. wOw~ that's too much...

we udnerstand very well that with a scholarship, everone problem won't exist... but we are just making the worst plan...

so anyone out there know anything about study loan? with interest which doesn't stand as high as 1.5%~

[bunny]

Do consider NUS... it is ranked quite high internationally and I think almost every student automatically get considered for an INTEREST FREE study loan during the duration of your study.

I'm not rich myself and before getting a scholarship that was my original plan to go NUS because my parents could not afford to send me overseas. In NUS, I think at least u stand a fair chance of getting your preferred course.. unless of course u wanna do medicine or law then you have to be one of the best.

p/s: the only condition is that you have to work in Singapore for 3-4 years after graduation. You may think of it as the time for you to pay off your loan.

[friendly]

What is NUS in full?

[deaf-knee]

national university of singapore I think

[chenchow]

In terms of interest rate for loan, I personally think that most loans that are available out there, actually has an interest rate from at least 6% or rather at least 8%. While pointing this out does not solve this problem, I woudl say that unless the banks are contributing back as a social service, the administrative cost of the loan, plus inflation itself would cost about 3-4% already, and we are not even considering the opportunity costs. In fact, loan that is at 1.5% is hardly in existence, because even PTPTN which is often considered as a low interest rate loan, it is at 3%.

Yeah, for most study loan (check first), the period of study is interest free. PTPTN and the study loan offered by NUS is in such method. However, interest fee would be imposed, although may be at a low level, upon your graduation.

[pandaboy]

There's a thread about education loan already....I know cos I'm the one who started the thread...

Here:

http://www.recom.org/modules.php?nam...education+loan

I just wonder why no one seems to talk much about JPA loans. Anyway, I'll copy and paste your message to that thread.

Hence, this thread is locked.

[Thirdshifter]

My advice, Student loans should be your last resort.