Study Loan

[Beta_Tester]

I am trying to stretch my Dollar. I need about 100-120K of loan for the study loan.

I don't intend to use cash reserves to pay all for now. Planning to get a house or just in case for a rainy day. I may in event the good bonuses come back, pay a lump sum back or refinance (if possible).

What are good rates that I should be looking at? I'm trying to get more information from the school in house loan facility. Then compare. Any tips to look out for?

I do not have any loan liabilities or any outstanding what not. Working full time.

Thanks.

 

[reddevil0728]

I am trying to stretch my Dollar. I need about 100-120K of loan for the study loan.

I don't intend to use cash reserves to pay all for now. Planning to get a house or just in case for a rainy day. I may in event the good bonuses come back, pay a lump sum back or refinance (if possible).

What are good rates that I should be looking at? I'm trying to get more information from the school in house loan facility. Then compare. Any tips to look out for?

I do not have any loan liabilities or any outstanding what not. Working full time.

Thanks.

Just compare the interest rate across first?

don’t know what you meant by tips?

just look for the lowest interest rate?

 

[BBCWatcher]

I’m assuming a local university. If you can tolerate the fast repayment period then TCC Credit Co-operative offers a really low rate (2.2%).

 

[Prof. Utonium]

INSEAD not your co sponsoring since they are sending you?

Just the usual EIR, processing fee, flexibility in payment options. TCC should be the cheapest loan compared to the other banks.

 

[dork32]

I am trying to stretch my Dollar. I need about 100-120K of loan for the study loan.

I don't intend to use cash reserves to pay all for now. Planning to get a house or just in case for a rainy day. I may in event the good bonuses come back, pay a lump sum back or refinance (if possible).

What are good rates that I should be looking at? I'm trying to get more information from the school in house loan facility. Then compare. Any tips to look out for?

I do not have any loan liabilities or any outstanding what not. Working full time.

Thanks.

what you are write does not make much sense.

study loan is unsecured. normal 4++%.
housing loan is secured. normal 1++%
you want to take study loan so that you can take less housing loan.

if you are going to local uni and poly then the moe loan is the best. its interest is 0% until you graduated.

 

[Beta_Tester]

INSEAD not your co sponsoring since they are sending you?

Just the usual EIR, processing fee, flexibility in payment options. TCC should be the cheapest loan compared to the other banks.

Theres a cap. So still have to take the loan. Anything more, they will probably give after i fulfil some projects to be paid as bonus.

 

[Beta_Tester]

what you are write does not make much sense.

study loan is unsecured. normal 4++%.
housing loan is secured. normal 1++%
you want to take study loan so that you can take less housing loan.

if you are going to local uni and poly then the moe loan is the best. its interest is 0% until you graduated.

Nope not local uni or poly.

I am just trying to stretch the dollar.

No loans are needed if I pay all using the cash savings. But you know for a rainy day just in case or for whatever reasons i need it. I dont intent to spend it all at one go.

 

[Beta_Tester]

Just compare the interest rate across first?

don’t know what you meant by tips?

just look for the lowest interest rate?

Tip as in, i am hoping people have went through this situation can share more.

 

[Beta_Tester]

I’m assuming a local university. If you can tolerate the fast repayment period then TCC Credit Co-operative offers a really low rate (2.2%).

Probably calling them up to understand more, saw the contact on the school website. Thanks.

 

[dork32]

Nope not local uni or poly.

I am just trying to stretch the dollar.

No loans are needed if I pay all using the cash savings. But you know for a rainy day just in case or for whatever reasons i need it. I dont intent to spend it all at one go.

you got the wrong understanding of stretching the dollar. it means increasing the value of your money.

taking a high interest loan, when your cash is earning pittance in the savings account, does not increase the value of your money.

yes i do agree that keeping spare cash for rainy days is a good idea.

 

[BBCWatcher]

I agree with Dork32, but I'll expand on one point. If the "Bank of Mom," "Bank of Dad," or "Bank of Aunt" (as examples) provides reliable "backstop" financial service, then you don't need much spare cash at all and shouldn't incur debt financing costs to keep more cash on hand.