What Are Lifestyle/Living Expenses Loan?

While you are pursuing your degree or diploma, not only do you have to cater for the expensive school fees, you also have to consider food expenses, transportation costs, your wants and rental fees if you are not living with your family. These are the essential costs that you need to take note of.

Schools will always offer overseas exchange programmes to introduce more learning opportunities for their students. It could be an exchange at the world-renowned Korea University, a not-to-be-missed internship at the UK or to spend a semester at an affiliated overseas university. It is always tempting to go on the summer abroad programmes or exchange trips. After all, it is a once-in-a-lifetime experience.

When going for an exchange programme, you should factor in the costs for the following.

1. Visa Application Fees (if required)

2. Airfare

3. Overseas Travel Insurance

4. Accommodation Costs

5. Food

6. Books

7. Transport

8. Personal Expenses (shopping, entertainment, travel, gifts, etc.)

We gathered cost information from several university students who went for their exchange trip between 2017 to 2018. Below are cost examples of exchange trips/ overseas exchange programmes. The programme fee for each school or course differs.

RegionDurationAverage Cost
AsiaDuration: 3 – 6 monthsAverage Cost: $8,000 onwards
OceaniaDuration: 3 – 6 monthsAverage Cost: $12,000 onwards
CanadaDuration: 5 monthsAverage Cost: $15,000 to $20,000
United KingdomDuration: 6 monthsAverage Cost: $16,000 to $17,000
Prague, Czech RepublicDuration: 5 monthsAverage Cost: $15,000

For shorter trips ranging from 6 weeks to 15 weeks, expenses are estimated to be from $4,000 to $12,000 depending on the programme, country and exchange rate. Most of them have agreed that they spent most of their money on transportation and travelling around the countries. The next biggest cost would be accommodation.

One needs to prepare a quite a large sum of money for an exchange trip. But having a high cost does not mean that one should pass up on such a rare opportunity.

Student Loan Care offers exchange trip/ overseas exchange programmes for students in Singapore. Be it an exchange to Korea, Japan, Australia, England or any other country, we are here to help.

What We Can Do For You

What we offer:

Flexible repayment

You can choose a monthly repayment amount that will not strain your finances. It is important that you are comfortable with the repayment amount.

Lower interest rates

We provide lower interest rates as compared to other financial institutions. This means that you will pay a lower total cost if you choose to get a loan from us.

Friendly loan advisors

We understand how scary it can be to get a loan and to deal with all these financial matters. It is a serious long-term commitment. Don’t worry as our knowledgeable and patient advisors will be happy to address all your questions.

Flexible loan tenure

You can choose the amount of time you wish to take to repay your loan. You can choose to repay your loan within a year, four years or more. We are able to work out a personalised time frame so that you can focus on what is important to you: your studies.

Borrow up to 10x your income

We are able to provide loans up to 10 times your income, depending on individual’s profile. This is less restrictive as compared to other institutions and this means that you can get a larger loan for your education. We are here to listen to your story and provide you with as much help as possible.

Short processing time and fast approval

We understand that time is precious and you might urgently need cash for your education. Once you have submitted your details, we will contact you within 24 hours so that you can get the cash as quickly as possible. This means that you don’t have wait for days or weeks to get money for your school fees.