<![CDATA[Would you pay for university fees of your kids?]]>

kyith:
janet88:

hubby took a loan and paid for his own uni studies.

I would prefer my kids to take a loan (if they can make it to the U) and repay when they finish their studies...this way, they have a sense of responsibility. right after their studies, they have no other commitment...so it should be possible for them to repay their loans and at the same time learn to save.

i was thinking wouldnt it be better to get the child to work for it, instead of taking a loan. i always find that this is a problem with why the USA have a spiraling tuition loan crisis: the kids do not link what they study with technical viability for working, they have no idea of debt and interest responsibility. when it hits them, they grow resentful why no one actually educate them in this aspect.

Financial literacy should start from young, as young as 4-5 years old. Get them started on the basis of savings, giving and spending - Needs and Wants.

From 6-9yrs, they can expand and learn simple business or investing like \"lemonade from lemons\" business or similar. Basic budgeting can come in.

From 10-12yrs, expand further and talk about credit cards and dangers of it. Talk about debts and the dangers if unmanaged. Spending and Budgeting needs are important.

So, as they grow up along each age band, they can also grow in financial education and knowledge.

Walk the talk by leading by examples in your daily lives in your spending, savings, giving, allowance etc.
Also, they can learn as you do the groceries, eating at food court and restaurants etc.

]]>https://forum.kiasuparents.com/topic/58427/would-you-pay-for-university-fees-of-your-kidsRSS for NodeSun, 03 May 2026 15:31:33 GMTTue, 17 Nov 2015 17:47:31 GMT60<![CDATA[Reply to Would you pay for university fees of your kids? on Fri, 13 Nov 2015 16:58:24 GMT]]>If your Cpf under education section has less money for the Tution fee, the application will be rejected. U need ask your friend check the education section has money or not.

]]>https://forum.kiasuparents.com/post/1604541https://forum.kiasuparents.com/post/1604541Fri, 13 Nov 2015 16:58:24 GMT<![CDATA[Reply to Would you pay for university fees of your kids? on Fri, 13 Nov 2015 11:55:43 GMT]]>

gardenia64:
kitty2:

My friend was telling me if the parents are beyond 50 years old,the kids cant use their CPF to pay their Uni fee,wonder is this true?Anyone has any idea?


I don't think so. Parents only can use the Cpf money on the education this amount. It is not too much. If the child studies medicine or Dential, Otis not enough. If u have three kids, how ? U can not use the ordinary account to pay for uni fee.


My friend's sister tried and was rejected! It was unbelievable ,that is why I am asking anyone has such experience?

]]>https://forum.kiasuparents.com/post/1604465https://forum.kiasuparents.com/post/1604465Fri, 13 Nov 2015 11:55:43 GMT<![CDATA[Reply to Would you pay for university fees of your kids? on Fri, 13 Nov 2015 11:22:16 GMT]]>

kitty2:
My friend was telling me if the parents are beyond 50 years old,the kids cant use their CPF to pay their Uni fee,wonder is this true?Anyone has any idea?

I don't think so. Parents only can use the Cpf money on the education this amount. It is not too much. If the child studies medicine or Dential, Otis not enough. If u have three kids, how ? U can not use the ordinary account to pay for uni fee.

]]>https://forum.kiasuparents.com/post/1604460https://forum.kiasuparents.com/post/1604460Fri, 13 Nov 2015 11:22:16 GMT<![CDATA[Reply to Would you pay for university fees of your kids? on Fri, 13 Nov 2015 01:34:43 GMT]]>My friend was telling me if the parents are beyond 50 years old,the kids cant use their CPF to pay their Uni fee,wonder is this true?Anyone has any idea?

]]>https://forum.kiasuparents.com/post/1604265https://forum.kiasuparents.com/post/1604265Fri, 13 Nov 2015 01:34:43 GMT<![CDATA[Reply to Would you pay for university fees of your kids? on Thu, 12 Nov 2015 20:45:23 GMT]]>

janet88:
hubby took a loan and paid for his own uni studies.

I would prefer my kids to take a loan (if they can make it to the U) and repay when they finish their studies...this way, they have a sense of responsibility. right after their studies, they have no other commitment...so it should be possible for them to repay their loans and at the same time learn to save.
i was thinking wouldnt it be better to get the child to work for it, instead of taking a loan. i always find that this is a problem with why the USA have a spiraling tuition loan crisis: the kids do not link what they study with technical viability for working, they have no idea of debt and interest responsibility. when it hits them, they grow resentful why no one actually educate them in this aspect.

]]>https://forum.kiasuparents.com/post/1604207https://forum.kiasuparents.com/post/1604207Thu, 12 Nov 2015 20:45:23 GMT<![CDATA[Reply to Would you pay for university fees of your kids? on Thu, 12 Nov 2015 01:17:46 GMT]]>hubby took a loan and paid for his own uni studies.

I would prefer my kids to take a loan (if they can make it to the U) and repay when they finish their studies…this way, they have a sense of responsibility. right after their studies, they have no other commitment…so it should be possible for them to repay their loans and at the same time learn to save.

]]>https://forum.kiasuparents.com/post/1603860https://forum.kiasuparents.com/post/1603860Thu, 12 Nov 2015 01:17:46 GMT<![CDATA[Reply to Would you pay for university fees of your kids? on Thu, 12 Nov 2015 01:08:52 GMT]]>

superduper:
hophlng:

I want to contribute my 2 cents, university fees is the lowest priority for parents.


First, we don't even know if the kids can get into university (hate to prick the bubble)
Second, if he/she is super brilliant, scholarship will be chasing after him/her
Third, a lot of local bank is offering study loan at quite affordable interest rate.
Fourth, you can use CPF to pay for it if it is local university


True, if you are referring to everything local and all's well.
But, the point in question is, what if it's an overseas medical degree which requires at least 4 to 5 years of international student fees plus living expenses, would you deplete all possible finance and assets to cater to this mission, even if your current financial status is barely hand to mouth???

Hi, superduper,
U are right. Medical degree is the most expensive, it costs more than 100k local and costs 300k above overseas. As none of bank will give u study loan if u study overseas. And a lot of schoolarships local are not for medical student, faulty is only have 2 schoolars. If the child aims for medicial degree overseas, parents need prepare to sell their property. If u have more than one property in hand.

]]>https://forum.kiasuparents.com/post/1603851https://forum.kiasuparents.com/post/1603851Thu, 12 Nov 2015 01:08:52 GMT<![CDATA[Reply to Would you pay for university fees of your kids? on Wed, 11 Nov 2015 12:25:46 GMT]]>each have their own situations, but i felt that many see it as binary: save | don’t save, provide | don’t provide.


you wouldn’t know your earnings capability that well, but you can try to reach the bare minimum right?

project forward if saving 300/mth gets 84k in 20 years for a local uni education, then putting away that amount work towards it.

if you guys are having problem, put 150/mth away and borrow the other half of it. it still alleviates the stiuation

bottomline: its not a yes or no. its whether you get started and moving up the meter.

]]>https://forum.kiasuparents.com/post/1603674https://forum.kiasuparents.com/post/1603674Wed, 11 Nov 2015 12:25:46 GMT<![CDATA[Reply to Would you pay for university fees of your kids? on Wed, 11 Nov 2015 09:19:28 GMT]]>

hophlng:
I want to contribute my 2 cents, university fees is the lowest priority for parents.


First, we don't even know if the kids can get into university (hate to prick the bubble)
Second, if he/she is super brilliant, scholarship will be chasing after him/her
Third, a lot of local bank is offering study loan at quite affordable interest rate.
Fourth, you can use CPF to pay for it if it is local university

True, if you are referring to everything local and all's well.
But, the point in question is, what if it's an overseas medical degree which requires at least 4 to 5 years of international student fees plus living expenses, would you deplete all possible finance and assets to cater to this mission, even if your current financial status is barely hand to mouth???

]]>https://forum.kiasuparents.com/post/1603625https://forum.kiasuparents.com/post/1603625Wed, 11 Nov 2015 09:19:28 GMT<![CDATA[Reply to Would you pay for university fees of your kids? on Wed, 11 Nov 2015 06:52:04 GMT]]>I want to contribute my 2 cents, university fees is the lowest priority for parents.


First, we don’t even know if the kids can get into university (hate to prick the bubble)
Second, if he/she is super brilliant, scholarship will be chasing after him/her
Third, a lot of local bank is offering study loan at quite affordable interest rate.
Fourth, you can use CPF to pay for it if it is local university

]]>https://forum.kiasuparents.com/post/1603573https://forum.kiasuparents.com/post/1603573Wed, 11 Nov 2015 06:52:04 GMT<![CDATA[Reply to Would you pay for university fees of your kids? on Wed, 11 Nov 2015 03:48:36 GMT]]>

hercules:
Fanny1010:

just graduated and they feel that every month returning $400 to CPF is really expensive. :imdrowning: it is just like drowning the whole family. just imagine when 3 kids graduate and all 3 have to pay similar amount into CPF as cash, how to save for their weeding?

honestly I fail to see a new graduate having to pay $400/month for fee installment can be considered as \"expensive\". Given proper budgeting, it should be not difficult to meet such payment.

my relative graduated last year and starting pay at about $3,500. She can save about $1,800 per month (without taking into consideration of how much she is giving her parents yet as this amount is 'discretionary').

it's a matter of habits and lifestyle I believe.

Fresh out from school is the best time to repay all loans ... as they no need to service a new house, car or expensive hobby. All boils down to budgeting and committing to pay off :rahrah:

]]>https://forum.kiasuparents.com/post/1603493https://forum.kiasuparents.com/post/1603493Wed, 11 Nov 2015 03:48:36 GMT<![CDATA[Reply to Would you pay for university fees of your kids? on Tue, 10 Nov 2015 15:33:25 GMT]]>

hercules:
superduper:

It's very tough in Singapore, with the rising costs of living and influx of foreigners to compete with locals for jobs as well, with or without a degree.


The Singapore Dream seems to be getting more elusive...


Teach children to lead a simple and humble life and we model ourselves for them (don't need the branded, the latest gadgets, the cars, the 5-room HDB, the expensive high-power-milk-powder/preschools/enrichments/tuition).

Life is really not bad in Singapore if we can feel contented with whatever we have in hands.

Bravo! I echo your sentiments!

]]>https://forum.kiasuparents.com/post/1603375https://forum.kiasuparents.com/post/1603375Tue, 10 Nov 2015 15:33:25 GMT<![CDATA[Reply to Would you pay for university fees of your kids? on Tue, 10 Nov 2015 11:01:21 GMT]]>

superduper:
It's very tough in Singapore, with the rising costs of living and influx of foreigners to compete with locals for jobs as well, with or without a degree.


The Singapore Dream seems to be getting more elusive...

Teach children to lead a simple and humble life and we model ourselves for them (don't need the branded, the latest gadgets, the cars, the 5-room HDB, the expensive high-power-milk-powder/preschools/enrichments/tuition).

Life is really not bad in Singapore if we can feel contented with whatever we have in hands.

]]>https://forum.kiasuparents.com/post/1603315https://forum.kiasuparents.com/post/1603315Tue, 10 Nov 2015 11:01:21 GMT<![CDATA[Reply to Would you pay for university fees of your kids? on Tue, 10 Nov 2015 10:42:01 GMT]]>It’s very tough in Singapore, with the rising costs of living and influx of foreigners to compete with locals for jobs as well, with or without a degree.


The Singapore Dream seems to be getting more elusive…

]]>https://forum.kiasuparents.com/post/1603302https://forum.kiasuparents.com/post/1603302Tue, 10 Nov 2015 10:42:01 GMT<![CDATA[Reply to Would you pay for university fees of your kids? on Tue, 10 Nov 2015 08:39:32 GMT]]>

superduper:
Would any average parents sell their flat and use up all their limited financial resources (potential retirement funds), in order to fund their child for a substantially expensive overseas university education in medicine plus costly overseas living expenses?


Is this a plausible or viable option?

Definitely not for me as it is a strict principle that I hold to 'spend within our means and to save for rainy days'.

If a child requires his parents to go that far to support him for studies and actually accepts such support, it speaks something about the child's character.

Why have to squeeze the parents so dry to accomplish own ambition / interest? So many roads can lead to Rome and therefore should not be fixated with only one route.

Parents who are willing to go along with this kind of arrangement have to be prepared to be whitewashed and at the end, left alone poor if the child decides not to come back and not to support financially. Don't curse and blame if this is the outcome as all are old enough to 'help' the child to chart his path. Wanna do, do it willingly regardless of outcome, then OK to offer support as a gift of love.

]]>https://forum.kiasuparents.com/post/1603267https://forum.kiasuparents.com/post/1603267Tue, 10 Nov 2015 08:39:32 GMT<![CDATA[Reply to Would you pay for university fees of your kids? on Tue, 10 Nov 2015 08:37:42 GMT]]>Yesterday I overheard two parents discussing whether they would pay for their children’s overseas education.


One mummuy replied with a firm no. She said since very young, she had told her children that they would have to work very hard to get into NUS/NTU which she would pay for. Nothing wrong with local Uni and in fact, local Unis are very good. For overseas Uni, they would have to find their own way. That mum continued that she had a friend who spent a bomb on overseas Uni for her child but 2-3 years later, the child had a change in interest and wanted to pursue another course of study.

]]>https://forum.kiasuparents.com/post/1603266https://forum.kiasuparents.com/post/1603266Tue, 10 Nov 2015 08:37:42 GMT<![CDATA[Reply to Would you pay for university fees of your kids? on Tue, 10 Nov 2015 07:56:47 GMT]]>Would any average parents sell their flat and use up all their limited financial resources (potential retirement funds), in order to fund their child for a substantially expensive overseas university education in medicine plus costly overseas living expenses?


Is this a plausible or viable option?

]]>https://forum.kiasuparents.com/post/1603258https://forum.kiasuparents.com/post/1603258Tue, 10 Nov 2015 07:56:47 GMT<![CDATA[Reply to Would you pay for university fees of your kids? on Tue, 10 Nov 2015 02:59:10 GMT]]>

Fanny1010:
just graduated and they feel that every month returning $400 to CPF is really expensive. :imdrowning: it is just like drowning the whole family. just imagine when 3 kids graduate and all 3 have to pay similar amount into CPF as cash, how to save for their weeding?
honestly I fail to see a new graduate having to pay $400/month for fee installment can be considered as \"expensive\". Given proper budgeting, it should be not difficult to meet such payment.

my relative graduated last year and starting pay at about $3,500. She can save about $1,800 per month (without taking into consideration of how much she is giving her parents yet as this amount is 'discretionary').

it's a matter of habits and lifestyle I believe.

]]>https://forum.kiasuparents.com/post/1603206https://forum.kiasuparents.com/post/1603206Tue, 10 Nov 2015 02:59:10 GMT<![CDATA[Reply to Would you pay for university fees of your kids? on Tue, 10 Nov 2015 02:16:53 GMT]]>i have called in to CPF hotline to ask about this before cos one of my relatives just graduated and they feel that every month returning $400 to CPF is really expensive. :imdrowning: it is just like drowning the whole family. just imagine when 3 kids graduate and all 3 have to pay similar amount into CPF as cash, how to save for their weeding?


the hotline staff at CPF told me that in order for the waiver to kick in and payment to stop, the parent must be 55 years old and above before they can fill in a form to apply.

]]>https://forum.kiasuparents.com/post/1603192https://forum.kiasuparents.com/post/1603192Tue, 10 Nov 2015 02:16:53 GMT<![CDATA[Reply to Would you pay for university fees of your kids? on Wed, 07 Oct 2015 02:07:32 GMT]]>

kc007:
zbear:

[quote=\"kc007\"]Wow this is scary stuff..I guess I would prepare myself to pay it for them..however if eventually I want them to take a partial loan..what are the various university loan options they can take? Other than using the parent's CPF cause my wife & I kindda use almost all our CPF for property.



You can take out bank loans - go for the local banks. I am told interest kicks in only after graduation so it's interest free during the Uni years. This allows you to save some money during that period.

Can the kid take the bank loan themselves? When they go to uni, I will be close to retirement & don't wish to take any loans. haa[/quote]Yes, they can. Interest start kicking in when one graduates.

]]>https://forum.kiasuparents.com/post/1589783https://forum.kiasuparents.com/post/1589783Wed, 07 Oct 2015 02:07:32 GMT<![CDATA[Reply to Would you pay for university fees of your kids? on Wed, 07 Oct 2015 02:04:54 GMT]]>

zbear:
starlight1968sg:

[quote=\"dasalo\"]Have you heard that you can write in to waive the CPF pay back by children who takes the loan?


My friend did just that and I don't know if it's because it coincide with her husband's being 55yrs old, CPF withdrawal age?

Yes, one of my colleagues did that.
He used his CPF to pay for his daughter's NUS fees. Upon graduation, she has to return but he wrote in to waive etc. There could be some conditions to be met like his age etc.


Does this mean that you don't need to pay the interest on the loan?[/quote]Nope, nothing. Should find out more if really interested in this scheme.

]]>https://forum.kiasuparents.com/post/1589779https://forum.kiasuparents.com/post/1589779Wed, 07 Oct 2015 02:04:54 GMT<![CDATA[Reply to Would you pay for university fees of your kids? on Tue, 06 Oct 2015 14:35:32 GMT]]>Please takes note bank loan is only for Nus, ntu and smu student to apply. And loan is 90% of Tution fee. During the uni, it is free interest.

]]>https://forum.kiasuparents.com/post/1589605https://forum.kiasuparents.com/post/1589605Tue, 06 Oct 2015 14:35:32 GMT<![CDATA[Reply to Would you pay for university fees of your kids? on Tue, 06 Oct 2015 14:23:40 GMT]]>

zbear:
kc007:

Wow this is scary stuff..I guess I would prepare myself to pay it for them..however if eventually I want them to take a partial loan..what are the various university loan options they can take? Other than using the parent's CPF cause my wife & I kindda use almost all our CPF for property.



You can take out bank loans - go for the local banks. I am told interest kicks in only after graduation so it's interest free during the Uni years. This allows you to save some money during that period.

Can the kid take the bank loan themselves? When they go to uni, I will be close to retirement & don't wish to take any loans. haa

]]>https://forum.kiasuparents.com/post/1589603https://forum.kiasuparents.com/post/1589603Tue, 06 Oct 2015 14:23:40 GMT