Further Studies?

I never really got the chance to go overseas to further my studies.  I basically completed everything here locally via distant learning.  One main reason why I decided not to go overseas was that I didn’t want to burden my parents.  No doubt that they could send me over, but I just didn’t want to burden them too much.  Besides, at least I won’t have to miss my favorite food which was Kolo Mee and my parent’s won’t have any problems with the currency exchange for me to spend.

Anyway, I’ve already pretty much got that mentality when I was 16 years old.  As most of us would pretty much think of our future pathway provided by what stream we would end up in.  Let’s just say that, if I were to complete form 5 and have gone to New Zealand (which was most likely the place where I would be heading).  Then there would be 3 of us there, and I kept on thinking that maybe just maybe it might be too burdensome for my parents.  So I’ve pretty much decided on probably doing it locally while taking a part time job, as I thought it was possible to do so after hearing from so many people who managed to complete their studies while having a part time job.

Unfortunately for me, I wasn’t in those group of categories whereby my work began to demand too much from me.  So instead of taking 4-5 subject a semester, I ended up taking 1-2 which wasn’t really a good strategy, thus causing my delay in completing my studies early.  That time I didn’t want to let go of the job was due to the fact that I’ve already been making quite a comfortable living for myself.  But as I noticed my other friends who were in the same batch as I was already completing their studies got me realized that I’ve been way behind.  So I decided to let go everything, and went to Kuching to pretty much concentrate on finishing my studies soon.  No doubt things turned out ok in the end, but it could have been a little bit faster if I didn’t pretty much tried to “act smart” in the first place.

Education seems to be very important nowadays at this time and age.  Unlike last time, without a degree you would end up being a timber tycoon or pretty much some successful person who’s pretty much reaping the benefits he sowed previously.  But now, without a certification it’s kinda hard for one to pretty much get a job that pays well.  But the problem with education now is that unless you can get a scholarship or being accepted to local university, education is going to be extremely expensive.

As for me, I wouldn’t want Esther to go through life and think that she will burden us in the future.  So what do I do to ensure that Esther would have a secure future even if something might happen to me?  A friend of mine came up to me and introduced me to this scholarship program which is how they say “FREE”.  Free in the sense you get back what you put in, plus the interests which I will be getting in the next 19 years.  This is something which I found much better compared to education plan that was being given by the insurance company.  Anyway, I don’t think I can tell you more as I wouldn’t want to get into trouble with these parties.  Just to give you a rough idea on how they work is that, basically my payments are being hold by a Trustee so I can be sure that my money will not be gone just like that.  And let say few years down the road, something could happen to me. I can rest assure that Esther will still be able to continue her studies without any problems.

Anyway, here’s a copy and paste which I got from their website on what will I be getting back in 19 years time when Esther will step foot into college.

REGULAR CONTRIBUTION

I’m currently taking the 5 years contribution as I find that you can get more interests out from it.  No doubt that you might need to fork out a little bit more, but this actually forces you to save whether you like it or not.  Anyway, this are actually the cost for each units.  For an example, because I’m taking the 5 years contribution and Esther falls in the category of Age 0-1.  So 1 Unit I need to pay RM1680/year.  At the end of the day when Esther step foot into college at the age of 18 or 19, I will be getting back RM7800 + RM28,728.  But this RM28,728 will be divided into 3 installments which is every year I will only be getting RM9576/Year.

If let say I decided to take up 4 units.  Then every year Esther will be receiving RM38,304/year worth of Scholarship.  And the best part is that you get back the amount you dump in which would be RM31,200.  This indirectly forces you to save, but at the same time ensuring your child to have a secure future for her studies without any worries.  But let say, Esther decided to continue her studies for another 3 years to get her master or a double degree or whatever.  KOPP will be giving out another RM31,200 per Year maximum up till 3 years.  So you will be getting like total of RM115K worth of scholarship, just as long she wants to continue studying KOPP will give her that money to study.  Pretty cool don’t you think?  But what if let say the school fees per year is only RM30,000, what will happen to the remaining balance of RM8,304?  Once the plan hits maturity, KOPP will release the money to you no question asked and will not question what you do with the remaining balance.  The remaining balance could be used to pay for flight and accommodation, or even get a laptop for her.  So you wouldn’t need to worry about that either.

Anyway, this would pretty much lift up my burden with this program.  And if something were to happen to me few years down the road, for example ended up being disabled or actually gone to another world (touch wood ).  KOPP will refund me the total amount I have put in no question asked, and Esther will still be able to receive the scholarship once she enters college.  So at least I can rest assure that, if something does happen to me at least I didn’t neglect my responsibility as a father.  Anyway, I believe this is a beautiful program because not only they refund you but reward you making sure that your children will get the financial support they need.  The best part about this program is that, even though your children may not be top students in school but as long as they want to study and get a degree.  KOPP will give you the scholarship that they need in order to have a bright future.  Now everyone can study