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Re: Do you know how to finance University?

Posted: Wed Jan 29, 2020 1:53 pm
by CalvinS
I think parents should know how to manage money and they should learn how to save money for the fees in school. For the children, you should be brave enough to take scholarship exams it can be a big help for you and your parents.

Re: Do you know how to finance University?

Posted: Tue Feb 04, 2020 7:06 pm
by JassyT
Good day everyone. Does any of you here know how to finance a University? My sister is finding ansewers as to how can she finance university. Aside from taking scholarship exams? Thank you for helping!

Re: Do you know how to finance University?

Posted: Wed Feb 05, 2020 8:02 am
by slmkhoo
JassyT wrote:
Tue Feb 04, 2020 7:06 pm
Good day everyone. Does any of you here know how to finance a University? My sister is finding ansewers as to how can she finance university. Aside from taking scholarship exams? Thank you for helping!
Your question is too vague. Which universities? Which countries? What courses? What are her results like? What sort of work is she looking to do eventually? Is she willing to serve a bond?

Re: Do you know how to finance University?

Posted: Fri Feb 07, 2020 4:58 pm
by ingwei79
JassyT wrote:
Tue Feb 04, 2020 7:06 pm
Good day everyone. Does any of you here know how to finance a University? My sister is finding ansewers as to how can she finance university. Aside from taking scholarship exams? Thank you for helping!
Just get the kids to borrow student loan from banks. For parents, you'll likely be the guarantors but the kids will manage and pay back themselves. You do need to save up a bit as emergency cash or to bridge over the loan if it is delayed or not enough. Based on personal experience, something like SGD10K saving should be enough for local university and around 50-100K depending on what kind of foreign university. I assume the kids will be getting bank loans, thrifty, use own personal savings since young and work part time.

There is really no need to sell everything you have or getting scholarships or even using CPF savings. They borrow money themselves and payback themselves. They are fully responsible for the course they choose that can result in good earning to help them payback once graduate. Once they step out of secondary school or JCs, your obligation as parents is to help them get married and startup family. Tertiary education and work-career should be the kid full responsibility. Parents who too doted on them will just raise a self-entitled brat and risk the child end up single forever or married too late till unable to bear child.

Re: Do you know how to finance University?

Posted: Sat Feb 08, 2020 11:16 am
by cse1217
There are a few ways.

There are some insurance saving policies which you can buy when the kid is young and when they reach 21 years old, the amount of money can be taken out to finance University.

Another way is to get your child to work and study at the same time. Can take up part time jobs or tutoring job which trains your kid to be financially independent.

Taking the school loan which is interest free until the student finish university and have to start paying when the kid graduate.

Applying for bursary could to lessen the load

Using CPF is also possible.

Re: Do you know how to finance University?

Posted: Wed Apr 07, 2021 8:55 pm
by Zeal mummy
Really depends on where you want to study and which school. Student loans are common and in sg, u have the option of using parents cpf.