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Hi may I know how many years did you take to reach 120k?

Hi. I am in a similar position trying to break my bond. The contract states that the 10% pa interest accrues on the total amount of monies which have been paid or expended by the sponsoring organization on account of the scholar. Anyone knows if this only includes the 30k grant or the organisation will include all kinds of other cost (say randomly inflated by 10k for "expenses")?

I know I should ask the company but I am afraid I cannot pay the extra cost and I will be blacklisted for asking.

Have you started serving or still an undergrad? Could you give an example of these expenses so we can differentiate and establish a base amount? For e.g. living allowance, hostel allowance, computer allowance, exchange allowance? Or all these allowances all included within the $30K?

For me it is just one lump sum 30k. However, I am just concerned that extra cost such as legal fees or something unrelated to the 30k may be added to the penalty.

I am still an undergrad. Just finished 2nd year of a 4 year course.

Your language is atrocious. Is this the standard of a FCH holder from NTU?

I got what you mean, I think it’s just an accrual that compounds every year since you haven’t shared any additional expenses beyond the 30K.

Have you checked what you will be doing on your bond? And what is your major?
Personally, I’m for you finishing your bond; bear in mind that you can’t use your scholarship title if you break it, it can’t be shown on your cv etc.

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Although there have been people who defy odds and manage to succeed regardless, you will find that it is much easier to start with a good profile and then move afterwards to another good company than to start with a relatively unknown companies to HRs screening your resumes - I would like to stress that SMEs are not necessarily bad - it's just that I wouldn't count on a move to a high paying job at a MNC as a statistically sound move after 2 years - after two years your class of honours and GPA literally means nothing - it's all about skills, competencies and knowledge displayed at the interview AFTER you get past the screening process, and people from SMEs tend to struggle at that.

But who cares what I think? Maybe you could eventually work at a startup that manages to IPO within 2 years and you would be laughing away at all other posters here. Ultimately it is about YOU. The 30k scholarship means nothing if you don't need the money right away - and you will find that job negotiation in pay are often also dependent on your current pay (not so much for graduate jobs but subsquent jobs after) so switching after 2 years from a low salary pay is already kind of messed up.

From the point of view of a HR recruiter, they will most definitely shortlist a candidate with a superior job pedigree (given candidates have relevant skills for the role) - academic results mean almost nothing 2 years into the role. The major point of getting good grades is to help you get into graduate school, or to help u land a good starting job.

True, at the end of the day, it’s a choice of integrity and employability
If you signed it, it’s my belief you should serve it

But of course as the above poster said, if it hinders yours future prospects, you should think about it

Also, it depends on your fresh grad employability
Are you in a discipline/major with great employability? Professional degree, com science?

Finally, practical advice: go and do an internship with your company this summer
See how it’s like before delivering a final verdict

Haha haha. I think u jumping the gun. 2nd year only cfm fch?

No guarantee eh.

Anyway if you wanna break just break now. Probaly pay back less than 40k. Inclusive of the all fees. This fee will going increase as years go by. Either now or never.

So your net loss is less than 10k

Also the 10k compensation is a good lesson. Don't anyhow sign up for things you didn't research properly. Next time when buy hse or do investment or buy bit coin or hyflux perpetual shares or you are starting a company, or get married. Assess risk before jumping into it.