Tuition loan vs CPF

[julongmum]

jetsetter:

I'll be financially all the way to uni too. Already planned for overseas uni education, regardless of outcome of A level results. Not touching CPF. No need to repay too. Just give me monthly pocket money as token after finding a job.

You r all planned n set, happy for u :imcool:

[MrsKiasu]

julongmum:

MrsKiasu:

To share, my sis called me and told me that she is going to tell her son that she borrows money from me for his fee. And I replied, ok go ahead

My sis told his son the same thing too! Her purpose was to hope that her son cherish the chance of further studies n not think that money comes easy.

MrsKiasu, was yr sis meant the same as my sis?

Something like that and also that nephew is clouded by love

[MrsKiasu]

If everything is ok…we will finance the kids up to Uni. Most likely not overseas le so should be ok.

[floppy]

jetsetter:

I'll be financially all the way to uni too. Already planned for overseas uni education, regardless of outcome of A level results. Not touching CPF. No need to repay too. Just give me monthly pocket money as token after finding a job.

Good for you leh!

I told my kids that I can only finance one of them to university. If the elder gets to utilize the money, the 2nd would have to earn a scholarship. Otherwise, it will be enrollment into the University of life. And the 3rd can only go either on a scholarship or after the elder one makes the repayment.

No pressure. For my pre-primary kiddies.

[jetsetter]

floppy:

jetsetter:

I'll be financially all the way to uni too. Already planned for overseas uni education, regardless of outcome of A level results. Not touching CPF. No need to repay too. Just give me monthly pocket money as token after finding a job.

Good for you leh!

I told my kids that I can only finance one of them to university. If the elder gets to utilize the money, the 2nd would have to earn a scholarship. Otherwise, it will be enrollment into the University of life. And the 3rd can only go either on a scholarship or after the elder one makes the repayment.

No pressure. For my pre-primary kiddies.

Wah...Stressful for your #2!

Didn't know u hv a #3!

My dream is to become an overseas study mama...hope my kid doesn't mind my presence!

[floppy]

jetsetter:

Wah...Stressful for your #2!

Didn't know u hv a #3!

My dream is to become an overseas study mama...hope my kid doesn't mind my presence!

Number 3 still inside my wife's womb. Never too early to start
But that's the chant I've been reciting to them :evil:

My wife's dream job is also to become an overseas study mama. It's probably not that difficult to land that job, we could always pack the kid to Universiti Malaya (or one of the lesser known ones)

[Nebbermind]

Have not really thought about the loan part.


If taking a loan from bank, the repayment plan is already agreed upon at the start of the loan or at the completion of the course?

If CPF, must we return whatever due within certain year? The borrower is still yourself?

[sharonkhoo]

We told our kids we can finance local university fees. Anything over that, they will have to find their own ways. In terms of comparing with others - every family has their own considerations. It’s like pocket money issues - not every family can give the same amount.

[sharonkhoo]

jetsetter:

My dream is to become an overseas study mama...hope my kid doesn't mind my presence!

I would if I were your kid! Nothing personal against you, but think I would have minded my parents hanging around when I was in university. But I realise that many Singapore kids now like their creature comforts, and welcome their parents' presence and provision even when they are in university. If my daughter goes overseas, we have told her that we will use her as an excuse to travel, but won't want to spend time hovering over her (much to her relief!).

[lego]

My family isn't well to do.

I started earning my own pocket monies since JC by giving tuition in the evenings to pri school kids and later sec school kids during Uni. Worked part time as clerk during school holidays as well.
Friends asked if I wanted to join tours after graduating (think there's special fares for undergrad) but I couldn't - I have to get a job soon!
It doesn't affect my relationship with my parents at all, I don't feel bitter.
If anything, it taught me how to manage my monies wisely - was able to repay the fees, save enough monies to get a new flat (in an unpopular estate ) and get married a few years after graduating.