Apply for the Best Overseas Exchange Trip in Singapore

Universities and polytechnics often offer exchange programmes for their students. It could be an internship in the UK, a summer exchange at Korea or spending one semester in Australia. All these are once-in-a-lifetime opportunities and they do not come cheap. Overseas exchange programme loans are here to help with your finances in order to enjoy a fulfilling and fun study trip with your friends!

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.

Going for an exchange programme?

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.

Exchange Trips / Overseas Exchange Programmes

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.

“With Student Loan Care’s help, I am finally able to do animation and designing, something that I have always wanted to do!”

I always wanted to be part of an animation company like Lucasfilm Animation involving myself in stuff like the Star Wars. But due to circumstances, I studied accountancy. In order to pursue my dreams, I decided to look for financial help online and came across Student Loan Care. With their help, I managed to get a loan to further my studies and eventually get a job that I enjoy!
Wilson Toh
3D Animator and Motion Graphics Designer

What can we offer you?

Loan tenures up to 5 years

Flexible repayment plans

Available for all student exchange programmes in Singapore

Low interest rates

Borrow up to 10x your monthly income

How can a Personal Loan help me as a fresh grad?

Fresh grad personal loans can help you foot your bills, pay for your home repairs, get new furniture, new laptops, emergency situations or anything that you need funds for. You can also get a loan to go on a holiday with your friends or simply take a solo trip to relax. If you are interested in being an entrepreneur, then perhaps you can take a personal loan to start your own business.

For some of us, we are already on study loans or in credit card debts. You can also use personal loans for debt consolidation. Both banks and financial institutions offer debt consolidation plans where they help to combine and consolidate all of the borrower’s debts and offer a lower interest rate with monthly repayments. This means that you don’t have to put in that much effort to keep track of your loans and just make one monthly repayment.

Nonetheless, we strongly encourage you to only apply for loans that you truly need and to only get an amount that you are able to repay.

“ The truth is, no one really has it all figured out. But we can always try our best to make the fullest of our lives. What we can do is to get the right tools and help to make our lives better. ”

How much can I borrow? Is there a minimum or maximum amount?

Most banks and financial institutions in Singapore offer a loan of up to 10 times that of the borrower’s monthly salary, depending on individual profiles. 

The amount loaned depends on the borrower’s salary, risk profile and credit score. The higher the credit score, more reliable your profile is, and these increases the success rate of you getting a larger loan.

For example, if you are a Singaporean or PR earning a salary of $2500 per month, you can get a loan of up to 4 times your salary, which means you can borrow up to $10,000.

Am I eligible for a Student Loan? Who qualifies for the loans?

Regardless if you are a fresh graduate, an executive, a manager or a businessman, you can get a loan if you are 21 to 65 years old and employed.

Loan requirements will be stated on financial institutions’ websites. A live chat option is usually provided to answer your queries. They will assess each applicant’s risk profile and credit score.

If you are a foreigner working in Singapore, you are also eligible for loans by both banks and licensed lenders. However, it must be noted that the loan requirements for foreigners are stricter especially with banks.

How long is the application process? Is there a lot of paperwork?

The amount of time varies for each bank and financial institution. It is convenient as most of them offer both paper and online application. 

Banks generally have a longer processing time as they require the approval of many departments. It could take days or even weeks for the loan to be approved and for the money to be disbursed.

Licensed moneylenders also conduct checks but generally take a shorter period of time and offer quicker processes. If the application is successful (with all the necessary documents submitted), they should be able to approve and transfer the money within a few hours or a few days.

Other Types of Loans Available

Education in Singapore is really expensive. You might not be able to get a good job without a diploma or degree. If you have been postponing your studies due to the high costs, stop worrying. We can help you unlock endless opportunities with our study loan. 

We all need a little break once in a while. Perhaps you have been wanting to go on holiday to Thailand, Japan or even the UK with your friends but lack the funds to do so. Student Loan Care can help you by solving your financial issues. 

Exchange programmes to various countries are offered by many education institutions and these are exciting once-in-a-lifetime opportunities! Although the programmes can be rather expensive, Student Loan Care is here to help you achieve your goals. 

While you are studying, there will be bills to pay or things that you have always wanted to buy. With all these expenses, your finances might get a little tight. Student Loan Care’s lifestyle/ living expenses loan is here to help with just that! 

“If you are not willing to learn, no one can help you. If you are determined to learn,
no one can stop you.”
- Zig Ziglar