I dont think this is true.
I believe SIM provides overseas exchange opportunities too.
Good professors? It is highly subjective.
Internships whether local uni or private uni are sourced by yourselves. Sure enough that local uni gives you chances to network more, but ultimately you still have to source for internship yourself.
Other than the 'prestige' of local uni student and probably 'uni life', i dont see much that private schools cant offer?
private schools just dont offer the same job opportunities as a local degree. Sure, local degree doesnt guarantee you a good job, but at least they give you the chance to take a shot at most good jobs.
Private degree grads don't even have a chance to have a shot at those good jobs. Your CV just get automatically sieve out by the HR systems. Sure you will save years of your life, but is it worth it? You path is going to be much more difficult and tedious than your average local uni grad.
Definition of good jobs are graduate schemes, management trainees and govt sector.
Cons of going private
1) More popular statboard like MAS,EDB, etc... do not consider private uni grads.
2) Top investment banking jobs (think grad scheme) do not consider private grads. Even top accounting firms take in few if any private degree grads
3) Top MNCs graduate schemes in SG do not consider private grads
4) When you graduate from your private degree, you will lose out to overseas and local grads
Although SMU is gonna take you more time, you will be better off in SMU. Sure people will tell you that you can do part time studies and work full time gaining experience. With 2 years experience your salary definitely better than a freshie from local and overseas.. This might be true but I haven't seen many people around me achieving it. End of the day, uni is to help you open more doors, and you want to open as many as possible.
Go to local, you wont regret it. Even if you dont get into any of the grad schemes, you still have a better chance to join govt sector or top MNCs than private grads.
Good luck bro