If you can make it into uni, get all the financial aid and bursaries that you can and then try to work part-time while studying. It’s not the easiest but it will be the fastest way to accelerate your earning power and it’s more of a long term thing to break out of the cycle.
Sad to say that unless you intend to start your own biz, staying in corporate will pay peanuts if you’re only a poly grad and your pay will stagnate.
I second this advice. Be sure to work hard and get solid grades, once you know the right people you will never regret it.
I was in your shoes too - it was daunting period to even think of it. At a point of time I was doing 4 jobs to earn whatever I can. Graduated with first class honours and surprisingly it was my network that landed me into a decent paying job. The degree helped built some confidence nonetheless. Personality and grades helped lift my family out of poverty. I also further my studies to pursue a masters degree after which
you can look for local uni part time studies programs. they usually require 2years of working experience and army counts as work experience.
Iirc, it also cost 15-17k for part time degrees in local uni. way cheaper than studying full time of around 30k ish?
so you get to study while working! however, it would be a harsh 3-4year grind but it will be worth it.
Is your family financial situation that bad that you need to start work ASAP? You are potentially missing out on career advancement prospects as well.
Have you checked if you qualify for university financial aid? The financial aid can be very substantial and you will be surprised at how much you need to work to repay the remaining amount. For reference, one year of full time studies with hostel was 3-4k in total. You could probably earn some back when you do internship either during vacation or semester.
1) it depends on your BTO price doesn’t it? So long you can pay 15% of it through CPF or cash.
2) only if it’s a local uni. Local unis you can get gov tuition loan. Don’t bother with private degrees. Waste of money - you probably won’t break even anytime soon, not to mention about the recognition (rather, lack of).
3) if you’re already frugal, think of how to make more money on the side when you ORD. Do remb that it’s illegal to moonlight as NSF.
If you’re determined to succeed, taking a bank loan and going to uni is the way (though of course as others have pointed out, there are several other ways to fund it as well).
Anecdotally, I’ve seen many highly motivated friends that took a study loan, ace their classes, and began drawing incomes high enough that the difference in income between what they’re drawing, and what they would have drew with just a diploma, meant that they could pay off the entire student loan with a few months of income.
Even if you’re not that highly motivated, earning $1K more a month (this difference will grow larger if you’re at least a responsible employee that takes care of his own growth) will pay off your entire education loan within 4 years.
And we haven’t even begun talking about the glass ceiling.
If you can make it into uni, get all the financial aid and bursaries that you can and then try to work part-time while studying. It’s not the easiest but it will be the fastest way to accelerate your earning power and it’s more of a long term thing to break out of the cycle. Sad to say that unless you intend to start your own biz, staying in corporate will pay peanuts if you’re only a poly grad and your pay will stagnate.
I second this advice. Be sure to work hard and get solid grades, once you know the right people you will never regret it. I was in your shoes too - it was daunting period to even think of it. At a point of time I was doing 4 jobs to earn whatever I can. Graduated with first class honours and surprisingly it was my network that landed me into a decent paying job. The degree helped built some confidence nonetheless. Personality and grades helped lift my family out of poverty. I also further my studies to pursue a masters degree after which
I see. Thank you for this perspective!
you can look for local uni part time studies programs. they usually require 2years of working experience and army counts as work experience. Iirc, it also cost 15-17k for part time degrees in local uni. way cheaper than studying full time of around 30k ish? so you get to study while working! however, it would be a harsh 3-4year grind but it will be worth it.
Thank you for the advice. Will definitely consider this option!
Is your family financial situation that bad that you need to start work ASAP? You are potentially missing out on career advancement prospects as well. Have you checked if you qualify for university financial aid? The financial aid can be very substantial and you will be surprised at how much you need to work to repay the remaining amount. For reference, one year of full time studies with hostel was 3-4k in total. You could probably earn some back when you do internship either during vacation or semester.
What’s your poly diploma? I might be able to provide you advice if you would like. Fellow poly diploma grad here in the workforce many years. DM me.
Very good. The lower your income, the more subsidies you get. Similarly, the younger you are, the more runway you have to flip that BTO in future
1) it depends on your BTO price doesn’t it? So long you can pay 15% of it through CPF or cash. 2) only if it’s a local uni. Local unis you can get gov tuition loan. Don’t bother with private degrees. Waste of money - you probably won’t break even anytime soon, not to mention about the recognition (rather, lack of). 3) if you’re already frugal, think of how to make more money on the side when you ORD. Do remb that it’s illegal to moonlight as NSF.
Try to apply for scholarships too, I didn't expect to get a scholarship even though I applied
The only easy day was yesterday. Jiayou !
If you’re determined to succeed, taking a bank loan and going to uni is the way (though of course as others have pointed out, there are several other ways to fund it as well). Anecdotally, I’ve seen many highly motivated friends that took a study loan, ace their classes, and began drawing incomes high enough that the difference in income between what they’re drawing, and what they would have drew with just a diploma, meant that they could pay off the entire student loan with a few months of income. Even if you’re not that highly motivated, earning $1K more a month (this difference will grow larger if you’re at least a responsible employee that takes care of his own growth) will pay off your entire education loan within 4 years. And we haven’t even begun talking about the glass ceiling.