When every sen counts

Sunday January 30, 2011

By LEE YEN MUN educate@thestar.com.my

Students at institutions of higher learning are finding it hard to cope with the ever-increasing fees and living costs.
HE HAS been awarded a scholarship that covers his tuition fees at a private university and has earned RM10,000 from a television reality show, but student Mohd Hazli Ali is convinced that it is only with a part-time-job that he can sustain himself and fulfill his family obligations.

He sets aside 25 hours a week teaching Economics, Accounts and Mathematics to secondary school students despite his own hectic schedule of tutorials, lectures and varsity-related activities as an Economics student at an institutionof higher learning in Petaling Jaya.

No idle moment: Farhana Amran, is pursuing a degree in Australia and is currently working at a beauty product outlet in Petaling Jaya, during her summer break.

Earning the top prize from the The Rookie, which is the local equivalent of The Apprentice in the United States, has put him in the limelight but the new-found fame and prize money still aren’t enough in settling all his expenses.
“The living expenses in the Klang Valley can be high,” says the 21-year-old who hails from Kota Kinabalu, Sabah. In his case, he also sends back money to his parents. Like Mohd Hazli, juggling studies with work is something that many students may have to bear with especially with the rising cost of education.

The hard reality that confronts both parents and students is that paying for college is becoming increasingly expensive , says International Medical University (IMU) Malaysia provost Dr Mei Ling Young.
“The average inflation is said to be about two to three percent, and educational institutions have to bear in mind the current economic situation,” she adds.

It is difficult to state the increase in percentage among private institutions of higher learning, but an informal survey done by StarEducation reveals that the figure varies between two and five percent.

Very few universities, such as IMU, lock down the fees for their students for a certain period of time so that parents know how much they are paying in total and in advance.
Many institutions increase their fees almost annually, which may serve as a shock to some parents.
“A lot of factors will be at play, such as the currency exchange and the shift in demand for certain courses. I have never seen the trend down with education costs,” says Jan Clohessy, director of advancement group at Monash University Sunway Campus.

 

School leaver Mohd Ridzuan Roslee, 18, works at an icecream kiosk and hopes to save money for his tertiary studies.

Although parents are directly responsible for the financial needs of their children, Clohessy feels that the children, too, should play their part.
“The time has come for a cultural shift. Parents must start saving for their children’s education which should be as integral as paying for a house mortgage ... it should not be left to the last minute,” she says. However, she stresses that parents too, should impress upon their children the need to save.

Knowing your options
Choosing the most suitable educational institution for your children is akin to shopping . One has to explore different shops, shortlist the choices and pay only what you can afford. However, education is very much more costlier and requires prudent consideration.
“Many Malaysian parents are still sending their children overseas. The perception is that a good degree is only available offshore. But I beg to differ,” Clohessy says.
“With so many twinning programmes available, students can obtain a degree from an overseas institution locally.”When deciding on a university or college, Dr Young also advises that parents be thorough in their research.
“Most Malaysians who register at private institutions of higher learning are from the middle-income families. Parents may sell their land or mortgage their houses to put their children through university.
“Parents should make it a point to send their children to an institution they can afford. After all, they have various options considering the large number of colleges and universities in the country.”

Most private education institution owners are full of praise for the National Higher Education Loan Fund Corporation (PTPTN), which has disbursed billions of Ringgit to needy Malaysians pursuing tertiary education.

To apply, candidates must have been enrolled into an accredited course in an institution recognised by the Higher Education Ministry.
And having to repay the loan at a mere one percent is almost as good as a give-away for its recipients.

At your service: First year business and commerce students Julian Wong (right) and Derrick Lee, both 19, serving a customer at an outlet. Both are working part-time during the varsity break.

Finance manager Wong Siew May suggests that parents who lack the funds to put their children through college, should consider dipping into their Employee Provident Fund (EPF) savings.
“It is a good idea to use the EPF savings if the parents are still actively working,” she adds.

Students with excellent achievements, either academic or co-curricular, or both, should apply to the various organisations and corporations that award scholarships. She adds that students should look beyond the ones provided by only educational institutions.
“However, one must always read the fine prints of a scholarship as they normally impose a bond that requires the recipient to work under its terms and conditions for a number of years.
“Ask yourself if you are able to commit to the conditions, otherwise it will be a huge cost if you fail to fulfill by the agreed terms,” said Dr Young.

Some work to earn extra money while there are some who take on a job to keep themselves occupied during their free time.
It does not matter where students choose to work, Clohessy says, as long as they show commitment to their job as employers are looking beyond the academic paper presented to them.
“It is really important for students to work during their vacation as it increases their employability prospects .
“Potential employers want to know whether students will actually get their hands dirty,” she says. What is most crucial, adds Clohessy, is that students must exhibit their willingness to work even if it is in a kitchen of a fast-food restaurant.
“It does not really matter what kind of job they are doing, but they must at least work at it for awhile as it tells a lot about their character.”
Psychology student Grace Wong, 22, who works in marketing events for her university on a part-time basis, agrees that working is a good experience but the focus should be on studies.

Savings a way of life
To keep her expenditure down, Grace sometimes cooks a large pot of soup which she says would be her meal for the day.
She says that food is the biggest expense for students who stay out.
Third year student Shalini Julia John, 21, adds that she sometimes tends to bow to peer pressure which affects her budget.
“Although I try to stick to a tight budget and prefer my outings to be at a mamak restaurant or at regular eateries, there are times when I follow my friends to more expensive places,” says the student from Petaling Jaya.
To have a comfortable meal, Shalini says that she has to keep aside about RM25 for a meal.

The International Studies student tries to reduce her expenses by other means. She does not drive if she needs to travel far.
“For example, if I am going to the city (Kuala Lumpur) from Petaling Jaya, it is more economical to travel by train, ” she says.
Mohd Hazli adds that despite having the scholarship and a part-time job, he rarely eats out simply because it is expensive. Instead, he prefers to cook at home as it “cuts my expenses considerably”. Postgraduate student Lina Toon, 24, says that it was hard to stay on her own after completing her first degree.
“Most of us depend on our parents to finance our studies for the first degree.
“After I obtained my degree, I tried to survive on my own and was almost penniless for a few months. The situation only improved after I had a full time job,” adds Lina, who attends classes after work.
She adds that the biggest portion of her salary goes towards her rental, followed by her car loan payment each month.
Third year medical student Tan Si Han, 22, has a younger sister who has just completed her Sijil Pelajaran Malaysia (SPM) exam.
Although he has been awarded a Public Services Department scholarship which takes care of his studies, living expenses and even enables him to have an allowance, Si Han has still taken on a part-time job during his study break.
“I don’t want to burden my parents, so I try to look for ways to earn some extra pocket money whenever I can,” he adds