I manage to save up $25k and will be taking my degree, should i: 1. use it to pay tuition fees? 2. take up student loan (with interest that adds up) and invest this money instead (like REITs/ETFs etc)?

Hi Anon,

Great Question!

It is heartening to hear that you are taking charge of your destiny early, and my quick answer is: both ways work.

The two important things to take away:

1) Be disciplined with your money

Make sure that you know where your money goes, and stick strictly to your budgeting.

It is a good habit to track your income and expenses, and always spend within your means.

2) Learn how to save, protect and then grow your money

Like other responses, either way you choose, you will have to learn how to protect and grow your wealth.

Find a mentor to show you the way to invest your money.

Even though you may not have much capital now, there are still options for you to choose from: unit trusts, stocks are a couple of them.

There are also lots of resources online to help you get started! :)

Hope that this helps, if you have further queries, you may reach out to me [email protected]

I just graduated not too long ago so my plan for my tuition fees may offer you some ideas to ponder:

1) I took on the university tuition fee loan as it is interest free until I graduate. With that, I saved up the cash in a "high interest account" like CIMB FastSaver but you should put your cash in Standard Chartered Jumpstart Account as it offers 2% annual interest. Some of these cash will eventually be used to pay for the loan and these savings also offers you options to take on overseas exchange during your university time.
2) My grades are decent so every year I always apply for scholarships/bursaries as long as I meet most of the criteria. Sometimes I will get several thousands which can reduce my tuition fee loan. These applications also offer the opportunity to work on business writing which will be useful in writing cover letters during the job hunting period. Some of these scholarships also offer internship opportunities or even a job role after graduation so no harm trying.
3) I also work part time in school so I also saved up quite a sum from there and with the help from these income sources, I cleared my tuition fees when I graduate while having a decent savings left and funded my own exchange in Vancouver.