You are on: Why invest in education tab
Your salary is a major contributor to your standard of living. You want your salary to be enough to:
Furthering your education (degrees, certification courses etc.) makes you more attractive to the job market or to your current employer and increases your chances of earning a higher income.
You are on: Things to consider tab
Are you going to further your studies locally or abroad? Things to consider are:
You are on: Funding tab
Option 1 – Existing Savings: If you have enough cash set aside, you can use your savings. However, for most of us, that may mean using all your savings to use for only one life goal.
Option 2 – Set up a Savings Plan: If you have the time, you can set up a savings plan specifically for this goal.
Option 3 – Loan: Most of us would need a loan when we’re ready to further our studies. There are loan options for all your education expenses. Just ask one of our representatives today.
Option 4 – Part Loan/Part Savings: Many people choose to use some of their savings to reduce their borrowings
Before considering these options, you should explore:
You are on: Saving tab
The best way to save towards a specific goal is through Automatic Savings. Follow these simple steps:
You should set up a saving plan for this as early as possible to avoid having to go into heavy debt between 40 to 50 years of age, as happens to many parents. By the time your child reaches 18 – 20 years old, he/she can have significant cash holdings which can be used for education. Even if he/she does not choose to pursue further education, the funds could be used to buy land or anything else you and your child decide at the time. However, to make this a reality, you have to start immediately. Ask for automatic savings plan to high-interest yielding account and other investment options.
You can borrow for all your education needs including: Tuition fees; Books; Boarding; Computer purchase. Account for everyday transactions; set up a basic chequing account as your main transaction account get an ATM debit card to easily access your funds; and more…
You are on: Tracking Expenses & Financing Studies Abroad tab
If you are studying abroad or renting close to your school of choice you should consider methods to simplify the rent paying process and track your other school expenses such as loans or fee payments. You should:
A computer is a must-have resource for completing assignments, doing online research and taking notes…for those who can type fast enough.
If you choose to invest in a computer for studies, you should know that it costs very little to insure it for its replacement value. That way, if your computer is lost, stolen or damaged, you can quickly buy a new one. Ask about our computer insurance coverage and computer loans.
A three-year degree could cost over USD$100,000 depending on the duration of the course, the University and even the level of comfort away from home. Government assistance and private scholarships are sometimes available but, financing may have to be sought privately from; parents, guardians or other sponsor. Distance learning programs are becoming increasingly popular. This is a cost effective alternative to studying abroad.
If you take this route, you may wish to consider getting a credit card so you can pay your tuition and other expenses online. There are several options available for sending funds abroad ranging from bank drafts, bank to bank wire transfers and remittance money transfers. Discuss your options with us so we can work out the best plan for you to send money safely, quickly and conveniently.