Advice on Overseas Education

[kefer]

Hi everyone,

I am new to this forum, but I would like to seek insights and advice on a matter that has been troubling me alot. Currently I possess offers from both NUS (Science) and Cambridge (NatSci), for deferred entry starting from next year 2014. This may seem an easy choice, but please give me a chance to explain.

I come from a middle-lower class family, and after speaking with them, they decided to support whatever decision I make with regards to this matter. I understand that they would have to scrimp and save, as well as have to undertake a mortgage loan in order to pay for my overseas education (about S$275k for 4 years MSci degree). However I am personally rather uncomfortable with this, especially since my parents would be retiring soon, and I feel I should only go to Cambridge if the future financial value (in terms of additional income) outweights the current financial cost (bank loan). Doing so, I would be able to repay the entire bank loan to them as quickly as possible for their retirement fund.

Therefore I would like to ask if pursuing a Cambridge degree is a financially-viable idea, or would be an unfair one to my parents. Since I lack much knowledge about the corporate world, I am truly looking forward to advice on this matter. Thank you in advance.

Firstly, I am not sure where a Cambridge Science degree will lead you to eventually, since you are not on any scholarships. Assuming you get fabulous results, it still does not make you a principal investigator in A*Star. As for a Science graduate in NUS, many ended up as science teachers or in administrative positions in the civil service. In my opinion, the foray into life sciences did not take off. I would not go for science in the first place unless someone is footing my school fees for the next 4 years.

I suppose that you got brilliant results for your A Levels, which is the reason why Cambridge accepted you. Why not consider an accountancy course in NTU? Even a law degree course in SMU/NUS will cost less than half of an overseas program.

Originally Posted by kefer

Hi everyone,

I am new to this forum, but I would like to seek insights and advice on a matter that has been troubling me alot. Currently I possess offers from both NUS (Science) and Cambridge (NatSci), for deferred entry starting from next year 2014. This may seem an easy choice, but please give me a chance to explain.

I come from a middle-lower class family, and after speaking with them, they decided to support whatever decision I make with regards to this matter. I understand that they would have to scrimp and save, as well as have to undertake a mortgage loan in order to pay for my overseas education (about S$275k for 4 years MSci degree). However I am personally rather uncomfortable with this, especially since my parents would be retiring soon, and I feel I should only go to Cambridge if the future financial value (in terms of additional income) outweights the current financial cost (bank loan). Doing so, I would be able to repay the entire bank loan to them as quickly as possible for their retirement fund.

Therefore I would like to ask if pursuing a Cambridge degree is a financially-viable idea, or would be an unfair one to my parents. Since I lack much knowledge about the corporate world, I am truly looking forward to advice on this matter. Thank you in advance.

What do you want to do as a career?

If you want to do research, get the Astar scholarship. If not, or you want to do something that astar doesnt fund (eg zoology), going to NUS, doing very well, then going back to cambridge for a PhD isn't a bad idea too.

A Cambridge general degree opens far more doors if you want to start work overseas in banks or the corporate world. If you want to start off in Singapore, Cambridge >> NUS but the gap is far lesser, and if you get a 1st class or similar you will be in a good position to begin.

My personal interest lies in the sciences, being the reason that I have chosen to pursue a science undergraduate degree. However with regards to my future career path, I am honestly still rather undecided between a science career (lack of experience in real research and it may not be my cup of tea) and a finance-related career (analyst/mgmt consultant).

I decided against a business degree as it is my plan to pursue a MBA some time later, and I believe a general degree (NatSci) would provide technical knowledge that may prove useful in the future. This would be in cases of providing financial services to research-driven companies, while also teaching transferrable skills like quantitative analysis and critical thinking.

I guess I should ask as well if it is easy for a science graduate to undertake a finance-related career as well. I am personally rather interested in finance due to the analytical depth and the opportunity to work with people (though less of IB and more of consultancy).

Looking forward to your thoughts!

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