What are some strategies to fund my postgraduate course (i.e. MBA) in Singapore (one of the main 3 universities) as a foreigner on Employment Pass? - Seedly
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Anonymous

Asked on 12 May 2018

What are some strategies to fund my postgraduate course (i.e. MBA) in Singapore (one of the main 3 universities) as a foreigner on Employment Pass?

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Pascal S
Pascal S
Level 6. Master
Answered on 16 May 2018

I like this question and it resonates with me since I aspire to get my MBA too (at SMU in my case).

As usual, there are too many variables in play and we would thus assume that you have been working for at least 2 years (which is the minimum requirement for MBA in most public universities here, that you have some cash savings, and that you are looking to work in Singapore post-graduation.

Finally, we should assume that you are seeking a strategy to pay for your tuition fee.

I can't personally share my full strategy in public, hence, I will share two scenarios as illustrations:

Scenario A

Take smart debt to leverage your tuition fee payment. You can borrow from,

  • friends and family (and fools)

  • banks (Citi bank and HSBC have personal loans for foreigners)

  • P2P Lending Platforms (though I don't know any in Singapore offering loans to students)

This is the simplest way to get started.

However, unless you are a high-income earner (which then would raise eyebrows as per why you would need a loan in the first place), you can only get a loan that is commensurate with your monthly income. But you get the point, and do compare loan options from a financial comparison website).

Also, you might need to use a portion of your cash savings given the maximum amount you could borrow.

Scenario B

Sell your future earnings** to an investor or a group of investors. It sounds somewhat similar to Scenario A **but it is not,

  1. Borrow from an investor or a group of investors (which could as well be an institution)

  2. Get a fair contract which protects both parties' downsides

  3. Go study, graduate and start paying a % of your monthly/annual income to your investor(s)

Some terms but not limited to:

  • A % only of your recurring income

  • Capped to a fixed duration, say 10 years

  • In the event of unemployment or inability to work due to health, recurring repayment goes on hiatus

Hope it clarifies

Pascal

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Gabriel Tham
Gabriel Tham
Level 9. God of Wisdom
Answered on 14 May 2018

There are a few possible ways:

  1. Get your company to sponsor you. If you are a top performing high level executive, you can try asking if your company would sponsor you the MBA.

  2. Try applying for the various post-grad scholarships. There are numerous scholarships for prospective post-grad students.

  3. Applying for financial assistance. This is only if you really cannot afford the fees, you can try to apply for financial assistance at the university.

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