Deadrick,
I think i can help to answer your doubt.

I was 22 yrs old four years back. I signed the short term contract with the SAF as an Army Officer(2 Years) and serve a total of 4 years in the Force. I'm 26 now and I'm currently working in HSBC and will soon be heading to UOB Kay Hian or Kim Eng Securities in future.

You are probably facing the same situation as mine (When i was 22).
1. Our family are unable to fund our future education.
2. How do i pay for my degree course? should i sign on?
3. Fear of irrelevant skills to compete in the commercial world.
4. Late start. (Later then most of my male friends)
5. I don't really want to serve long in Army, just want the money for degree.


Let's start with my experience on the signing on in SAF first

Pros:
First of all, yes, Your starting pay will be ~$2.2K for Officer. Specialist will be also above $2k as well.
You will probably earn ~$2.9K by the time you are Full lieutenant (3rd-4th year) as of what i experienced. So you will probably get ~$50K (with bonus) through out the years of proper saving and that's excluding the sign on bonus of $25k.
This amount will give you a kick start faster then most of your friends and settle your degree fee. But be careful, alot of my army colleagues went to buy themselves a car and end up spending all. So you really got to exercise proper money management.

Cons:
Outfields, outfields and outfields. Guard duties(e.g Camp/Complex Duty Officer). You will not have enough time for going to lessons. If you already on a part time degree, you will definitely miss out many lessons. My friend failed miserably and took 5 years to complete his studies in SIM.


Q1: FUNDING FOR DEGREE FEE?
If your concern is funding for a degree? There are many banks out there willing to offer you Student Loan and the rates are really good. You can start paying the loan back after you landed a job with your degree. I took RHB Student Loan. Lowest rate i can find.

Don't consider loaning from banks as a debt, they are there to help and assist you getting a degree.


Q2: SERVING IN ARMED FORCES WITH IRRELEVANT SKILLS?
As of your concern whether Armed Forces has relevant skills in commercial? Yes.
If you are an Officer/Specialist, you will gain managerial skills through out the NS period. Engaging with people, learn to work with people from staff and management level. Planning, organize and managing small or large group of people. Gain confidence and etc. I had an offer in Certis Cisco for an Inspector position after I ORDed (Although i did not accept, because i'm not heading to that career path). They are offering me $3000 - $3500 + additional monthly incentive up to 1 month pay. It was relatively a good starting pay i have to admit.


Probably you want to see the situation is this way

1. If I SIGN ON...

Pros:
Take part time course while in the Armed Forces. Probably can acquire degree faster and some accumulate some savings.

Cons:
But has possibilities that you will miss out many lessons (Depends on your Unit, Mine is okay). You will probably fail some modules due to the high commitment in the armed forces, and might need to extent your degree duration.


2. If I don't and starts to WORK NOW...

Pros:
Take part time course while taking up some admin or support roles in the related field to your degree. stack up 1 or 2 years relevant experience in the field you want to go into. Commitment probably lesser (Because job scope is very generalized). Probably have more time for the study of your degree.

Cons:
Does not have the assurance to pay up your degree when pursuing it. But if you SAVE UP properly, it is not an issue anymore.


Whether your Armed Forces experiences can consider as an experience really depends how smart you pen it down in your resume and articulate it well in your interview.

There are many articles in the internet on transition from military experience to commercial experience. This is also a good article for those who are in the Armed Forces now and going to Civilian workplace soon.

"Military to Civilian
How To Best Present Yourself to Companies"

Military to Civilian Transition - Marketing Yourself to Companies


The question is getting your degree FAST with GOOD GRADES. That would probably leads you to a better salaried job in near future.

Don't worry too much about the money, worry on getting good degree is the priority.

Hope this sharing helps. Good luck to you and your studies.