Money is not the biggest factor in obtaining an overseas
education. There are a lot of scholarships (non-govt, private
ones), bursaries and loans that exists for deserving students. You
just have to find one. If you don't have the ability to raise
enough money for an overseas education, then it's probably not a
good idea to have one. As you will probably get stuck with a huge
debt that you will not be able to repay in the future.
I know ppl who came from poor family backgrounds (i.e with
families staying in 1-2 room HDB flats) and managed to go for
undergraduate studies in US Ivy league schools for education
without a govt scholarship or a full private scholarship. They get
bursaries, apply for subsidised tuition with supplemented income
from part time work during studies (20 hours a week).
So from personal examples, I think it's "affordable" for most
people to go overseas university if they really wanted too. But the
issue, is whether one will work themselves to the bone for such an
education. That's when people say they can't afford an overseas
education because they're not from a rich family etc etc.
are you that sure that money is not the biggest factor?
yes, i agree that you do not need to go overseas to see what the
world is like. NUS offers enough exchange progms and attachments to
serve that purpose. however, you must see that the issue with most
students about overseas education are as follows:
group1) students whose grades are too sucky to enter local uni,
so have to go australia or canada. else, they are simply too rich,
to go for 2nd tier overseas uni.
Group 2) deserving students who have the grades to make it to
top unis like cambridge, oxford and Ivy. but they don't have the
money to study overseas.
The latter is the group which deserve more attention, since they
are in part, "restraint" by the local "poverty trap".
if you simply want to have a uni education in the west, to see
the world, UNSW will do.
but for oxbridge and ivy, these degrees, not only do they allow
the student to see the world from a different perspective, the
degrees offered by these unis also carry a lot more weight as
compared to an NUS/ SMU degree. you are almost gurranteed
employment, with lucrative job offers if you are one of these
graduates from these schools. that is the push factor for you.
yes, there are many scholarship out there, but theres thrice as
many applicants for these scholarships out there as well. what's
the possibility of you getting the scholarship which would sponsor
100% of your tuition fee? very small.
talkng about bursaries, yes, they help, but still, they are not
enough if you come from a low-income family.
Cost of overseas education ( leaving out australia)
UK: SGD$80,000 per annum
US: SGD$60,000 per annum
average duration of course is around 4 yrs. so in the
course of your studies, you will need AT LEAST $250k just to
cover your cost of living and this excludes extra cost i.e.
summer school, exchange programme, incurred during the course
of study. if you are from a low income family, i am sure that
banks are not willing to loan out this big a sum of money,
which they are not sure you would even be able to repay.
with 300k, i can probably buy a very very nice 5 room flat on my
own.
of course, it is a matter of how much you want to go
overseas for uni. that is, whether you are willing to spend the
first 10-15 years of your working life trying to repay the loan for
ur oversea uni education. it also means that while other people
have completed their masters and have bought big car, big house,
you will still be there struggling to repay ur loans, with
interests.
well, if your family is very well off and can afford to pay the
tuition fee without having to apply for bank loan, good for you.
meanwhile, us poor blokes can only stay in singapore and rot.
