Need a reality check: CS-related

[sadguy]

Dear Members,

I'm in desperate need of a reality check and some life advice. Currently, I'm intending to pursue a Computer Science degree in UNSW, which will cost a fortune. My Father's monthly income is in the low ten-thousands and my mum has no income, but I'll be requiring a study loan of 100k+ to be studying overseas to cover my 140k school fees, and more for misc.

A little background of myself:
- 21
- Unable to enter local CS degrees with my average A level results due to co-curricular priorities back then, big mistake on my part
- Experience in C, Python for about a year+ (self-taught while in NS)

I'm someone whose extremely passionate about CS and is constantly learning and programming on a daily basis. I'm currently waiting to matriculate locally in InfoSys. Bottomline is, I'm not getting any support from my parents as they feel that any local degree is fine and it's unecessary to pursue my dream of Computer Science. They feel that its too big a bet and that 'CS Prospects are not guranteed', and that if I want to go overseas I'll have to bear the full cost of it.

As a young adult myself, I can't disagree with that as I have no actual experience in the working world, and probably don't understand the value of money as much as the working adults on this forum.

To the people working in CS-fields: Is the ROI on my CS degree worth taking this loan to pursue my studies? I see varying salaries from 3-7k starting. I would need years to pay off this debt and its interest.

Any other life advice/salary-related advice that may help overcome my situation would be appreciated.

If you're passionate about something you should go for it. Especially since your passionate pays well. Do it or you'll regret it.

If you excel you can pay back your debt in no time.

[gurlInTech]

I just googled Information Systems undergrad degree under UNSW, sorry to say it isn’t computer science. It is more like a hybrid between Computer Science and Business. It is definitely possible to pursue a career in CS but the starting part will be a bit more challenging to convince people you are capable in it.

What sort of “Computer Science” career are you thinking about? Is it Data Scientist, Database Engineer, Software Engineer, Game Developer... or do you mean non-tech/hybrid roles like Product Manager, Business Analyst, Quality Assurance Tester?

Actually my family background is a bit similar to yours, but if you want to pay back your student loan debt you might have to forsake some “passion” for surviving. Most people from tech roles they get bulk of their income from Stocks actually. Don’t even go think about “game development” which most of my friends wanted to go into. They usually don’t get stocks and are lowly paid due to high supply in talents. Avoid non-tech companies also.

In your calculation of paying back, you will need to also subtract your taxes, living expenses, and maybe future couple expenses if you get a relationship. The higher your salary, the more taxes you have to pay also. In Singapore the max income taxes you have to pay is 22% (>320k salary a year - which is extremely rare), but there is no capital gain tax. In other countries the taxes could be much higher. There is no guarantee the salary you will get when you graduate because it depends on the market forces.

I personally feel it will be more practical and better financial sense to enter a local U and take a minor in CS. There are financial aids available. I have a friend in my clique who is from Faculty of Arts with minor in CS and he is literally tanking the CS projects and getting As for CS modules. He is now working as a Software Engineer at a bank.

But maybe you will find your million dollar paying job when you grad from UNSW. Who knows?

Remember, nobody from this forum nor your friends will be paying back your debt. When you made your decision, just go forward and don’t look back. Good luck in your studies!

[sadguy]

Originally Posted by gurlInTech

I just googled Information Systems undergrad degree under UNSW, sorry to say it isn’t computer science. It is more like a hybrid between Computer Science and Business. It is definitely possible to pursue a career in CS but the starting part will be a bit more challenging to convince people you are capable in it.

Hello!

Thank you for the reply I'm currently holding a placing for Computer Science in UNSW, but a placing for InfoSys in a local university.

At this very point in time, I have a few roles in mind that I hope to strive for - mainly SWE, ML Engineer(at some point down the road), or Quant in Finance. If I were to take on a loan, I'd definitely be trying my best to head towards a career with a higher probability of success due to my need of paying the debt off first.

It's a tough spot with my family background atm because I wouldn't say we're extremely rich but at the same time I can't get any international grants because of it.

[gurlInTech]

That’s nice. Ahh I misread a few information. My family background is definitely worse than yours. (Misread monthly income as annual income.) That’s good, I think you have a head-start in terms of financial sense. You can join the open-source community or work on your own projects to boost your portfolio (when you are free). Also study hard in school.

I’ve heard from the interviewer in one of my interviews that some interviewee requested the company to pay off his student loan. I just googled it and it sounds like there are companies doing that. You can start practising on leetcode and hackerrank asap starting from your first year to prep you for your first tech interview. It is just hard work to keep yourself ahead in this competition. The competition will just get harder in your batch of graduates.

Same advice, when you make a decision, just go forward and don’t look back. All the best!

You can take computer science degrees in local private unis to save costs.

Going to UNSW only makes sense if you intend to work in AU post graduation.

[sinkingfeeling]

Originally Posted by sadguy

Dear Members,

I'm in desperate need of a reality check and some life advice. Currently, I'm intending to pursue a Computer Science degree in UNSW, which will cost a fortune. My Father's monthly income is in the low ten-thousands and my mum has no income, but I'll be requiring a study loan of 100k+ to be studying overseas to cover my 140k school fees, and more for misc.

A little background of myself:
- 21
- Unable to enter local CS degrees with my average A level results due to co-curricular priorities back then, big mistake on my part
- Experience in C, Python for about a year+ (self-taught while in NS)

I'm someone whose extremely passionate about CS and is constantly learning and programming on a daily basis. I'm currently waiting to matriculate locally in InfoSys. Bottomline is, I'm not getting any support from my parents as they feel that any local degree is fine and it's unecessary to pursue my dream of Computer Science. They feel that its too big a bet and that 'CS Prospects are not guranteed', and that if I want to go overseas I'll have to bear the full cost of it.

As a young adult myself, I can't disagree with that as I have no actual experience in the working world, and probably don't understand the value of money as much as the working adults on this forum.

To the people working in CS-fields: Is the ROI on my CS degree worth taking this loan to pursue my studies? I see varying salaries from 3-7k starting. I would need years to pay off this debt and its interest.

Any other life advice/salary-related advice that may help overcome my situation would be appreciated.

Need to be realistic

If I am not wrong, Ben Leong already said tech industry in SG oversaturated . Not to mention cheaper better faster

Just accept your lot in life

Originally Posted by gurlInTech

That’s nice. Ahh I misread a few information. My family background is definitely worse than yours. (Misread monthly income as annual income.) That’s good, I think you have a head-start in terms of financial sense. You can join the open-source community or work on your own projects to boost your portfolio (when you are free). Also study hard in school.

I’ve heard from the interviewer in one of my interviews that some interviewee requested the company to pay off his student loan. I just googled it and it sounds like there are companies doing that. You can start practising on leetcode and hackerrank asap starting from your first year to prep you for your first tech interview. It is just hard work to keep yourself ahead in this competition. The competition will just get harder in your batch of graduates.

Same advice, when you make a decision, just go forward and don’t look back. All the best!

this!!!!!!!!!!

Originally Posted by sadguy

Dear Members,

I'm in desperate need of a reality check and some life advice. Currently, I'm intending to pursue a Computer Science degree in UNSW, which will cost a fortune. My Father's monthly income is in the low ten-thousands and my mum has no income, but I'll be requiring a study loan of 100k+ to be studying overseas to cover my 140k school fees, and more for misc.

A little background of myself:
- 21
- Unable to enter local CS degrees with my average A level results due to co-curricular priorities back then, big mistake on my part
- Experience in C, Python for about a year+ (self-taught while in NS)

I'm someone whose extremely passionate about CS and is constantly learning and programming on a daily basis. I'm currently waiting to matriculate locally in InfoSys. Bottomline is, I'm not getting any support from my parents as they feel that any local degree is fine and it's unecessary to pursue my dream of Computer Science. They feel that its too big a bet and that 'CS Prospects are not guranteed', and that if I want to go overseas I'll have to bear the full cost of it.

As a young adult myself, I can't disagree with that as I have no actual experience in the working world, and probably don't understand the value of money as much as the working adults on this forum.

To the people working in CS-fields: Is the ROI on my CS degree worth taking this loan to pursue my studies? I see varying salaries from 3-7k starting. I would need years to pay off this debt and its interest.

Any other life advice/salary-related advice that may help overcome my situation would be appreciated.

See how much u like to gamble. Overseas uni not that useful if it's not ivy league or top tier schools.

Best option u go local and try switch major to computer science right after first year.

[gurlInTech]

Originally Posted by sinkingfeeling

Need to be realistic

If I am not wrong, Ben Leong already said tech industry in SG oversaturated . Not to mention cheaper better faster

Just accept your lot in life

Yea its possible that market forces might drive the average salary down due to the surge in number of people pursuing tech. Ben Leong also said that the best will still be paid really well. To reach there takes a lot of effort and some luck bah. You can read his article https://www.techinasia.com/talk/engineers-strike

Everyone has their own set of problems and worries, and my biggest worry is that I might lose my job someday