Tertiary Education
I studied in university by taking a loan from the state government. Initially, I thought that I need to repay the loan later once I started working, so I went to the state government office and pay the personnel with RM1000. The lady was puzzled, and she didn’t know what to do with my money. I can’t remember if I was issued a receipt but she took my money. That is for sure!
Little that I know, I was not required to repay the loan because I graduated with first class honors and my loan was waived. My friends were laughing at me when they found out about this. Most of them didn’t not pay for the loans too.
Thus, I make it a point to save up as much as possible for my kids’ tertiary education. If they are planning to be a doctor, the school fee is as much as RM200K each!!! That is a lot of money! Of course, they can get Private Education Loans if they are going to private colleges, but I wonder if the loans will be waived if they score with flying colors? Most of the loans in private agencies have to be repaid in full besides their interest rates.
So, I better save up more for them, and if it’s still not enough, then hopefully they can get some scholarships. If not, they will have to get the study loan and repay it later when they are financially capable.
