3 Questions To Ask Yourself Before Committing to a Scholarship

A scholarship offer from the PSC, statutory boards, or government-linked companies like GIC is highly coveted and an achievement in itself. Because of this, many students “default” to these scholarships when they need funds to pursue an overseas education, thinking it’s the only or best option.

However, committing to a bonded scholarship is a decision that has far-reaching impacts on your life trajectory, affecting decisions like where you live in the future, who you date (yep), and how your career unfolds.

Let’s face it: life happens! Many things happen in these most transformative years of your life that you never imagined or predicted. So what we want to do is shed some light on this, as well as other financing options if you’re keen to study your undergrad degree in the US or UK.

Let’s be clear: we’re not here to tell you what the right thing to do for you is. What we want to do is help you ask yourself the right questions!

There are three essential questions that you should ask yourself before starting the scholarship journey:

1. Why do I want a bonded scholarship?

2. What does working in the public sector actually entail?

3. Have I considered all of my other financing options?

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1. Why do I want a bonded scholarship?

The obvious answer to this one is of course, that you want to ease the financial burden on your family. (I can already hear the chorus of “Thank you, Captain Obvious!” Hold your horses.

But putting that consideration aside, what else do you want from this scholarship?

From working with thousands of students, we know that most students want some degree of prestige and certainty.

• Prestige: It isn’t easy to get a scholarship, and the fact that you got one says many good things about you to prestigious universities and inquisitive relatives. While the scholarship will likely be your parents’ bragging rights, applying to prestigious universities on a scholarship does not necessarily improve your chances of getting in. Admission to great universities is independent of your receiving a scholarship - the two are entirely separate processes.
• Certainty: Committing to a PSC scholarship means that you’ll graduate with the security of a job with a good career progression waiting for you back home. You’ll be all set for the next 10 years, not having to worry about job hunting like your other friends.

The thing is, it’s impossible to plan for life’s twists and turns. If you go to a great overseas university, chances are that your time in school will lead you to many possible career options that you don’t yet know about or haven’t planned for.

You don’t know what you don’t know, and university is a transformative time.

For example, a common dilemma that scholars find themselves facing is what to do once they find the career/partner of their dreams after having promised themselves to a starting career in Singapore. This happens more often than you think. The glamorous scholarship that you were once so excited about then becomes the opportunity cost of pursuing other priorities that have unfolded. While prestige is a constructed narrative, your life’s events that will unfold are very much real.

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2. What does working in the public sector actually entail?

Serving your country and earning your living doing it is a noble enterprise. Thousands of Singaporeans do this every day and live fulfilling lives. But do you know what this enterprise entails? What is the actual day-to-day of the job you will be on? You won’t know if it’s the best environment for your newly-graduated self to thrive and grow in until you actually start doing it (or at least get a teaser through a related internship).

It’s the same with any job, or even dating any person - you may have an idea of what it’s like beforehand, but the only way to find out is to try it. If that’s true, are you prepared to commit 4-6 years of your life to work that you don’t know you’ll enjoy?

Another factor to consider is your passions and interests right now. Once you head off to university, you’ll probably invest more time and effort into developing those interests. What else could you explore that might end up being your future work, and are you ready to give those up?

If you are, that is totally fine too. Just make sure that you at least do an internship in your soon-to-be bonded career, and talk to as many people currently in that role as possible. You owe this to your future self.

That leads us to the final question you should ask yourself.

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3. Have I considered all of my other financing options?

Specifically, have you considered your bond-free financing options?

In the US, universities offer financial aid to international students in need. However, unless the college is need-blind, applying for financial aid may affect your chances of getting admitted. The schools that offer need-blind admissions for international students are few and highly selective: Harvard, Yale, Princeton, MIT, and Amherst. Remember, need-blind also does not necessarily mean full-need - a school may admit a student but not provide all the aid according to the student’s demonstrated need. Financial aid is a complex labyrinth to navigate - reach out to us with your questions and we’d be happy to share more.

Universities in the UK tend to give less financial assistance to international students. However, if you are looking to go to Oxford and Cambridge, you can look into the Jardines Foundation Scholarship, as well as the Cambridge Trust scholarship.

The bottom line?

You have more options than you think.

Talk openly with your family about this. Someone has to pay for tuition fees and you may make false assumptions about your sponsor’s extent of ability to pay unless you share information about financial aid and other options openly before making a decision.

I’ll leave you with what we tell all of our students: conduct thorough research and a cost-benefit analysis before you commit to anything.

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If you need help weighing the nuanced pros and cons of each option, decoding financial aid terminology, or discussing this as a family with a counselor’s help, please reach out to us at singapore@crimsoneducation.org!