Going overseas for further studies

Hi Mr Tan,
I am 20 years old and looking to enrol at a local university. However, I couldn't get into the course I prefer. I am now looking to study in Australia.

1) Based on my calculation, I will probably accumulate a personal debt of A$60,000at the age of 24. Assuming that I can get a job and pay S$1,400 toward clearing the debt, I'll be 28 yrs old by that time.

2) If I stay in Singapore to study the course (Maths and Economics) that I am not too keen on. I'll be about 26 yrs old, debt-free.

Which is better?

REPLY
I usually discourage students from incurring a large debt for overseas studies. I know of many students who are not able to get a good paying job after they get an overseas degree. It will take a long time for them to repay the loan.

If you have a place in a local university, the cost is lower, but you have to like the course that you are taking. I find Mathmatics and Economics to be a good course, but perhaps it appeals to some students and not to others. You may be able to find another course that you like from a local university?

I believe that a hard working, well educated student with a good attitude can do well in the job market without an university degree. I suggest that you consider working as well.

Accountability in Hong Kong

I have posted several media articles about the process in Hong Kong involving the legislative council and the Monetary Authority.

The elected Lego members (equivalent to our Members of Parliament) have summoned the top officials of the Monetary Authority for questioning regarding their role in approving the credit linked notes for sale to the general public, and the steps that they have taken to rectify matters after these products went bust.

This is the process of holding people accountable to do the job that they are expected to do. It is very educational. It is good for society and will encourage officials to learn from mistakes. It will lead to better governance.

Tan Kin Lian

Puzzle: Send More Money

A young man who is backpacking overseas sends his father the following telegram from Timbuktu:

  SEND
+ MORE
------
 MONEY

The father looked at the telegram and, with a bit of logic, he figured out the exact amount of money that his son needed! How much money did the son request? Each letter in MONEY represents a different digit.

Give your answer here. The correct answer will be displayed after you submitted your entry.

Here is the explanation on how to solve this puzzle.