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Old 04-25-2008, 11:31 AM   #1
newbie
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Question taking a study loan to go overseas...

I didnt get shortlisted for any of the scholarships and i really want to go overseas to study... i believe the investments will be worthwhile. My folks however are not super supportive and am thinking of taking up a study loan.

I went to a few bank websites and found out that they provide mostly local study loans. Does anyone have any idea on where I can get an overseas study loan? and what kind of guarantor would I need?
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Old 04-25-2008, 08:45 PM   #2
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unfortunately sutdy loans will not help much. most are for local universities. the overseas one offered by Citibank has a limit of $150,000 or 6x the borrower's monthly salary, whichever is lower. but I believe OCBC does have study loans for certain overseas universities, including Monash. you might want to check it out.
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Old 01-25-2009, 12:06 AM   #3
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Quote:
Originally Posted by LockT31W View Post
unfortunately sutdy loans will not help much. most are for local universities. the overseas one offered by Citibank has a limit of $150,000 or 6x the borrower's monthly salary, whichever is lower. but I believe OCBC does have study loans for certain overseas universities, including Monash. you might want to check it out.
Dear newbie,
I'm afraid OCBC education loans are not of much help either to study overseas. I went to check up their website:

The OCBC Education Loan:
Easy access with a monthly income of as little as S$1,000 with a joint application.
Highest loan quantum of up to 8 times your monthly income or S$150,000 (whichever is lower).

So, I don't think a loan alone will cover all the costs of studying overseas. However, loans are available for local universities offered by OCBC and Citibank. You can visit this link to find out more : http://www.ocbc.com/personal-banking..._Edu_Loan.shtm
Hope this is useful to you
Good luck in all your endeavours
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Old 02-07-2009, 09:47 AM   #4
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Quote:
Originally Posted by newbie View Post
I didnt get shortlisted for any of the scholarships and i really want to go overseas to study... i believe the investments will be worthwhile. My folks however are not super supportive and am thinking of taking up a study loan.

I went to a few bank websites and found out that they provide mostly local study loans. Does anyone have any idea on where I can get an overseas study loan? and what kind of guarantor would I need?
Check out RHB Bank. Bear in mind the loan is only for tuition fees, ie you'll have to manage the living expenses yourself. Message me if you need more info or help
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Old 02-10-2009, 09:34 AM   #5
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Did TS left SG already? no update...

anyway, I believe u are going UK/Aussie for Law.

have U work out the numbers?
if your folks are supportive, where are U planning on mastering this loan amount for fees? cost of living in UK and OZ isn' that low to begin with.
if U gotta work part time, will part time job jeopardise your grades?
U do know U need to meet certain critieria to sit for bar.

1. Can U juggle study and work?
2. Can U take the stress of knowing U die die need to perform, cause U owe the bank alot of money?
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Old 03-07-2009, 11:15 PM   #6
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I d just like to ad that juggling school and work can be a pretty interesting experience as many of my friends have done or are doing while at university. You will learn how to be independent.
The stress of knowing you die die have to perform can actually be a good motivator for a lot of students. In any case, you have to take it positively.
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Old 03-30-2009, 12:19 PM   #7
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So other than RHB, there is no way for out for ppl like TS to finance his studies overseas?
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Old 04-07-2009, 01:53 PM   #8
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You can borrow from your parents' CPF, it's considered a loan as under the law you have to pay it back with interest when you return.
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Old 04-07-2009, 02:34 PM   #9
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Unless the parents' CPF have a few hundred thousand inside, this isnt a very viable option either.
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Old 04-07-2009, 05:22 PM   #10
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Quote:
Originally Posted by yingzhen View Post
You can borrow from your parents' CPF, it's considered a loan as under the law you have to pay it back with interest when you return.
for OVERSEAS education?
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