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Thread: Any loans to study in Australia university?

  1. #1

    Default Any loans to study in Australia university?

    Hi, i have just received a notice from the university of adelaide to study dentistry. However, i did not managed to get a scholarship. May i know are there any loans or any way to fund for my study there? Thanks

  2. #2

    Default Re: Any loans to study in Australia university?

    Anyone? Thanks

  3. #3

    Default Re: Any loans to study in Australia university?

    I think you have to call the bank for personal loans...
    Maybe have to ... put the house as security for the loan...

  4. #4

    Default Re: Any loans to study in Australia university?

    u might need a well-paid singaporean as guarantor or your family member. at this period, they might tighten the loan credibility further. good luck.

  5. #5

    Default Re: Any loans to study in Australia university?

    did you check with the uni if they are able to give u a scholarship of any sorts?

  6. #6
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    Default Re: Any loans to study in Australia university?

    I think u should check with the counselors from IDP Australia (Shd still be at Grange road i think) as they would have some info. Study loans from banks can be an option but then it may require guarantor as mentioned. You may also want to try the Australia govt website as well as the British Govt website (for commonwealth countries) as they usually have some sort of scholarship (can be quite obscure or restricted to certain courses) that few people knows and thus not many applicant.

    Another possible area is to write in to MOH in singapore and see if they would sponsor your course in return for a bond on your return.

    Thats all i can think of at the moment. Hope it helps.

  7. #7

    Default Re: Any loans to study in Australia university?

    First of all, congrats on getting a place in Uni to study Dentistry.

    Second, beware of bank loans for University studies; the interest can be quite high if it is an "unsecured" credit line. This type of loans are similar to credit card rates, so be prepared to pay 24% per annum basis. I know what you are thinking..... it is a #*@%ing rip-off.

    Best is to see if you can get a guarantor or even loan from a relative and promise some % of interest after you return to SG when you get a job.

    There are many resources out there, will need some legwork.

    Good Luck.
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  8. #8

    Default Re: Any loans to study in Australia university?

    Work first , save then study . Dont dig a hole by getting yourself in heavy debt .

  9. #9

    Default Re: Any loans to study in Australia university?

    Quote Originally Posted by simranjits View Post
    Work first , save then study . Dont dig a hole by getting yourself in heavy debt .
    I happened to disagree with you. I think TS should try to get a loan or something to finish his or her education frist. It's good theory to work and save up but how long will it take to save up for an education. By then the TS might as well forget about an education and focus on his or her career.

  10. #10

    Default Re: Any loans to study in Australia university?

    Quote Originally Posted by Nisa View Post
    I happened to disagree with you. I think TS should try to get a loan or something to finish his or her education frist. It's good theory to work and save up but how long will it take to save up for an education. By then the TS might as well forget about an education and focus on his or her career.
    It'll be pretty hard to get a loan, it's you either suffer now or suffer later . At lot of students graduate and stuck with hefty student loans in america. You literally become slaves after you graduate. I'm not sure they even have student loans for you to study in another country in Singapore.

  11. #11

    Default Re: Any loans to study in Australia university?

    Quote Originally Posted by simranjits View Post
    It'll be pretty hard to get a loan, it's you either suffer now or suffer later . At lot of students graduate and stuck with hefty student loans in america. You literally become slaves after you graduate. I'm not sure they even have student loans for you to study in another country in Singapore.

    I did not say it will be easy to get a loan. However, alot of times, the person would work and save and maybe 8 or 10 years later, would only save up to the uni fees and some really basic needs amount. And by then he/she will be older than most of the classmates and peers when coming out to work.

    America is different from Singapore. Alot of students are given alot of scholarships and they choose not to find out more about it. I know alot of americans and overseas students were offered scholarships with no bonds. I don't think it is becoming a slave when u graduate, but it is paying off the loan and also getting into the field he/she is trained for, rather have to work in an unrelated field and going into the field u want, by early 30s, if lucky.

  12. #12

    Default Re: Any loans to study in Australia university?

    Quote Originally Posted by Nisa View Post
    I did not say it will be easy to get a loan. However, alot of times, the person would work and save and maybe 8 or 10 years later, would only save up to the uni fees and some really basic needs amount. And by then he/she will be older than most of the classmates and peers when coming out to work.

    America is different from Singapore. Alot of students are given alot of scholarships and they choose not to find out more about it. I know alot of americans and overseas students were offered scholarships with no bonds. I don't think it is becoming a slave when u graduate, but it is paying off the loan and also getting into the field he/she is trained for, rather have to work in an unrelated field and going into the field u want, by early 30s, if lucky.
    Well maybe not in this case , dentistry , if another field , he could work his way , show his worth and get sponsored by company etc. You don't need to work 8-10 yrs to save for the fee bah. Anyways i feel if you have to get loan and etc to study overseas, don't bother , study local. You'll be better off in the end.

  13. #13

    Default Re: Any loans to study in Australia university?

    Quote Originally Posted by simranjits View Post
    Well maybe not in this case , dentistry , if another field , he could work his way , show his worth and get sponsored by company etc. You don't need to work 8-10 yrs to save for the fee bah. Anyways i feel if you have to get loan and etc to study overseas, don't bother , study local. You'll be better off in the end.
    Some of us cannot get into local uni.

    2ndly... how much can a person save a year? 1K a month? (that's the max i think anyone can save, i presume is an A level cert?) 1K * 12 mths = 12K. I think it's about 50 K a year for everything. so... 50 / 12 = about 4 years of saving. Dentistry is about 4 years. so 4 years of saving * 4 years = 16years? Good luck with the idea of saving up before going for studies.

  14. #14

    Default Re: Any loans to study in Australia university?

    Quote Originally Posted by Nisa View Post
    Some of us cannot get into local uni.

    2ndly... how much can a person save a year? 1K a month? (that's the max i think anyone can save, i presume is an A level cert?) 1K * 12 mths = 12K. I think it's about 50 K a year for everything. so... 50 / 12 = about 4 years of saving. Dentistry is about 4 years. so 4 years of saving * 4 years = 16years? Good luck with the idea of saving up before going for studies.
    Well you can save enough for yr 1 , go in , study and work there part time i guess. There are many avenues for higher education here , not only nus/ntu/smu , still got sim , jcu , unisim among others. But yeah dentistry is a bit niche. But for the popular fields , business , comp sci etc, there's so many choices that there's no real need to go abroad to study unless you WANT to.

  15. #15
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    Default Re: Any loans to study in Australia university?

    What I did the last time is I check with HSBC bank and uni and work with both of them finally I secure the loan and I go.

    Then I go study online again they want to make sure that I have the funding to study(due to I am overseas) and I proof from the tax return that I could.



    HTH

  16. #16

    Default Re: Any loans to study in Australia university?

    Quote Originally Posted by simranjits View Post
    Well you can save enough for yr 1 , go in , study and work there part time i guess. There are many avenues for higher education here , not only nus/ntu/smu , still got sim , jcu , unisim among others. But yeah dentistry is a bit niche. But for the popular fields , business , comp sci etc, there's so many choices that there's no real need to go abroad to study unless you WANT to.
    Let's look at the TS's major... DENTISTRY!!! *rolleyes*

    one year is still about 50 K, according to my calculation.. it's still going to take him/her to save up for 4 years!

  17. #17

    Default Re: Any loans to study in Australia university?

    Quote Originally Posted by Nisa View Post
    Let's look at the TS's major... DENTISTRY!!! *rolleyes*

    one year is still about 50 K, according to my calculation.. it's still going to take him/her to save up for 4 years!
    Well if can't afford then don't go , retake 'a's and qualify locally lo? Its not a dead end. But i think Ts should be quite well off bah ,got shop in singapore etc , he does the b+w mass orders.

  18. #18

    Default Re: Any loans to study in Australia university?

    Quote Originally Posted by simranjits View Post
    Well if can't afford then don't go , retake 'a's and qualify locally lo? Its not a dead end. But i think Ts should be quite well off bah ,got shop in singapore etc , he does the b+w mass orders.
    Hi bro. I can no longer retake my A levels as it belongs to the old syllabus. Actually it is already quite hard to get into dentistry even for australia university. I personally don't wish to try again as chances are slim.

    The shop is my mum's one. And it is a new shop so she still need a substantial amount as cashflow.

  19. #19

    Default Re: Any loans to study in Australia university?

    Quote Originally Posted by longkangman View Post
    What I did the last time is I check with HSBC bank and uni and work with both of them finally I secure the loan and I go.

    Then I go study online again they want to make sure that I have the funding to study(due to I am overseas) and I proof from the tax return that I could.



    HTH
    Hi, may I know how do you approach them? The interest of the loan?

    Thanks

  20. #20

    Default Re: Any loans to study in Australia university?

    aiyo....if u get into dentistry, work in auzzie. Dental surgeons are the highest paid folks there, even better than nerosurgeons. Average salary is $440 k/yr. You dun get anywhere near this $$ in singapore.
    Anyway,it's NOT that hard to re-apply again...

    1. Maybe u can provide information on HOW much cash you have first? If it's zero dollars, i really think you will have a problem getting a 200K loan without collateral of any sorts. Drop the idea of borrowing everything from bank cos it can't be done.

    2. If somehow u need 50K-100K it's possible to get a loan from banks...educational loans are still considered relatatively risk free loans to banks, esp for dentistry/medical related studies ( ever heard of poor doctors?).
    Only 2 banks in singapore lend $$ for overseas studies, Cititbank and RHB. Max amount is 50K from each bank. You need gaurantor with montly salary X 8 = 50K. Interest will kill u at 6% for citibank and 4.88% for RHB.
    Go do your maths how much u have to repay.( Note that, if u borrow from year 1, u start paying interest from there...100K at 6%, = 24 K interest for 4 years of studying. Which means, you got to borrow more to start with..Anyway, if u borrow 100K , repayment is $4000 per month if u want to finish in 5 years)

    3. Working in auzzie to earn school fees is really out of the question. International student allow to work 20 hours per week. ( and yes, they will REALLY kik you out of the country if caught and YES , they do check b/c entreprenurial asian students do tend to go there to work instead of studying...). Assuming fees at 40K a years, u need 40000 / (20 hours per week ) /52 weeks = $38 /hour partime job. Kinda hard to find if u ask me. Realistic $8/hr just let u pay for rent + some food. And dentistry is a labwork intensive course, from year 2 onwards, u spend so many hours fiddling with wires and some cavder's jaw....i dun think you have time to work.

    4. Oh yea, now's a good time with the fantastic exchange rates.

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