Financial issues for Chinese student

[CyrusL]

Hi,

I did my undergrad. in Singapore and now I wanna apply for a med school in Australia.

Anyone here from China can help me with the problem with loans?

Thanks.

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[Raigon]

I'm actually from Taiwan, but close enough. China will swallow us up soon one day anyway.

You don't have banks that hand out student loans in Singapore? Because most of the Asian students attending Australian medical schools come from Singapore. If that many people could get the money to attend the schools, then I'm sure Singapore hands out student loans at least. You might want to check that out if you haven't already. You should know better than me though, because you're actually from Singapore.

If not, you can try working hard to get scholarships, because I know some schools like the University of Sydney have merit scholarships. If not, then Australia has some private banks that hands out student loans for higher interests. Or you could try to get Australia permanent residence before application by living in Australia and you can apply for one of the Common Wealth Supported Places, which makes the tuition really really cheap.

 

[shan564]

Even the merit scholarships at USyd aren't enough to make a big dent. I don't know of any students in our program from China, unless they are either Australian PRs or they lived in Singapore for several years before coming to Australia.

 

[CUHKJLM]

I am a year one medical student in USyd, and I am from Hong Kong. There are two students from Hong Kong, one from mainland China and eight from Singapore in my year. You can refer to the university's website for the statistic.

http://sydney.edu.au/medicine/futurestudent/med/profiles/class2010.php

I cannot get any loan from any local banks and Hong Kong Government, though I really hope I can. I personally know all of the Singaporean international students, and none of them can get any loan from any Singaporean banks or government. I have not known the Chinese student yet, but as far as I know, there is no loan from the PRC banks or government for students studying overseas. Hope it helps.

 

[Raigon]

I am a year one medical student in USyd, and I am from Hong Kong. There are two students from Hong Kong, one from mainland China and eight from Singapore in my year. You can refer to the university's website for the statistic.

http://sydney.edu.au/medicine/futurestudent/med/profiles/class2010.php

I cannot get any loan from any local banks and Hong Kong Government, though I really hope I can. I personally know all of the Singaporean international students, and none of them can get any loan from any Singaporean banks or government. I have not known the Chinese student yet, but as far as I know, there is no loan from the PRC banks or government for students studying overseas. Hope it helps.

Wait, if they can't get any loans, how do they pay off tuition fees (58k AUD) and living expenses (12k AUD)? I know that there are a lot of Singapore students studying medicine in Australia and they can't ALL be rich and have 300k ready to burn in medical school. And I'm sure many are fresh out of college and couldn't have worked that long to obtain 300k to pay. And I don't think scholarships can account for all of them.

So where do all the Singapore students get their money, if not loans? =/ That's what I'm confused about, because as I said, there are a lot of Singapore students and they can't all have enough money to cover all or most of the 4 medical school years.

 

[cosycatus]

Wait, if they can't get any loans, how do they pay off tuition fees (58k AUD) and living expenses (12k AUD)? I know that there are a lot of Singapore students studying medicine in Australia and they can't ALL be rich and have 300k ready to burn in medical school. And I'm sure many are fresh out of college and couldn't have worked that long to obtain 300k to pay. And I don't think scholarships can account for all of them.

So where do all the Singapore students get their money, if not loans? =/ That's what I'm confused about, because as I said, there are a lot of Singapore students and they can't all have enough money to cover all or most of the 4 medical school years.

you will be suprised how well to do some singaporean are and to what extent some of them are willingly to give up to support their children dreams. There are 2 bank loans avaliable contrary to what people has posted....but none of them can loan u the full amt need for tuition fees.

 

[CUHKJLM]

Than you cosycatus for correcting me. Sincerely, I have not done any research on this and just got the information from my Singaporean friends. It should be more appropriate for me to say "none of the Singaporean international medical students in USyd in my year that I know have got any loan".

Just want to post another related statistics you may want to know: http://www.medfac.usyd.edu.au/news/news/2010/Feb/100209.php

The oldest international student in our class is 38, and he is from Singapore. In fact, some of the Singaporean students are in their late 20s and they have worked for a while before coming to study medicine. So, it should be true that not all Singaporean medical students in Australia are super rich. In contrast, they have sacrificed quite a lot for coming here, which I think is quite admirable.

 

[Raigon]

...In contrast, they have sacrificed quite a lot for coming here, which I think is quite admirable.

Agreed. I've always heard from my teachers and professors in Taiwan how we should all learn from Singapore. Their students work harder, devote themselves more solidly to their dreams, and are willing to make much more sacrifices than us Taiwanese pampered brats. (Plus, they've been completing outscoring us in the World Math Olympiads =P)

Too bad my parents don't have a job anymore. (My dad's probably going to retire, he's over 55 years old and not sure if he can find another job as an engineer consultant). I'll have to rely on loans. But I admire most Singapore students and I want to learn from them. Can't rely on my parents (don't want to take money from their retirement funds), so rely on myself.

Like in Singapore, US loans (so my US citizenship FINALLY DOES come in handy) can cover part of my loans, but not all of it (unless I go for private loans and bury myself in debt hell).