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23-04-2017, 03:43 PM
Is university still a good investment?
by Goh Eng Yeow
PUBLISHED 23 April 2017
A top-notch education is frequently viewed as the passport to a well-paid job. Yet putting your child through college these days is no walk in the park.
Former US Federal Reserve chairman Ben Bernanke once said an ex-colleague had likened the experience of putting his three children through Princeton University to buying a new Cadillac car every year and then driving it over a cliff. Still, painful though it may be financially, his ex-colleague said he would have no hesitation in doing it all over again if he had to, Mr Bernanke added.
I had similar feelings when my nephew asked me for a $60,000 loan to do his MBA at Singapore Management University. He had graduated with a social science degree and felt he needed some financial grounding to get ahead in life.
Since he was already working, his first option should have been to apply to a bank for a loan. But the catch is that even if the loan application had been successful, he would have been saddled with a big debt to repay.
He also hasn't fully paid off the loan he had taken out to fund his undergraduate studies.
More details in http://www.straitstimes.com/business/is-...investment
by Goh Eng Yeow
PUBLISHED 23 April 2017
A top-notch education is frequently viewed as the passport to a well-paid job. Yet putting your child through college these days is no walk in the park.
Former US Federal Reserve chairman Ben Bernanke once said an ex-colleague had likened the experience of putting his three children through Princeton University to buying a new Cadillac car every year and then driving it over a cliff. Still, painful though it may be financially, his ex-colleague said he would have no hesitation in doing it all over again if he had to, Mr Bernanke added.
I had similar feelings when my nephew asked me for a $60,000 loan to do his MBA at Singapore Management University. He had graduated with a social science degree and felt he needed some financial grounding to get ahead in life.
Since he was already working, his first option should have been to apply to a bank for a loan. But the catch is that even if the loan application had been successful, he would have been saddled with a big debt to repay.
He also hasn't fully paid off the loan he had taken out to fund his undergraduate studies.
More details in http://www.straitstimes.com/business/is-...investment
Specuvestor: Asset - Business - Structure.