Singapore is not just a fast-emerging economy as a whole, it is the fastest growing hub in terms of education and research opportunities. It offers quality education through its world ranked universities like National University of Singapore and NTU with the tuition fee being lower than other world ranked ones of the developed nations. As the other developed economies such as the USA, UK, Australia are bending inwards, it is important to find a country with rich education standard and reasonable tuition fee comparatively.
Let’s look at the advantages of studying in Singapore in an elaborated way.
One of the best education systems in the world
Considering the fact that Singapore spends 19.96% of its total expenditure on Education out of which 35.28% is spent on higher education, we can surely get an idea of how much importance it lays on its education sector. According to the Times Higher Education World University Rankings, the 5 best universities in Asia have National University of Singapore and NTU at no.1 and no. 5 positions respectively. Along with these, SMU and many other private universities like INSEAD, James Cook University, MDIS, SP Jain School of Global Management are amongst the top universities of Singapore. Not just this, Singapore education sector is also good because it offers its students an international level of quality education as many Singapore universities are set-up in collaboration with top foreign universities from other countries.
Employment Opportunities in Singapore post-study
While choosing a place to study, an international student also takes note of the employment opportunities in that country post study. Interestingly, Singapore has an employment rate of 88% which makes the employment market quite lucrative.
According to Expat Explorer Survey 2017, 476 foreign nationals are residing in Singapore and has been ranked 1st in terms of expats living in Singapore. The average gross personal income for a Singaporean expat is USD 117, 904 (USD 118,000 approx.). This USD 18000 is more than the average expat income globally. All this makes Singapore a bankable employment market post-study for international students.
Grants and Scholarships
In one of its initiatives to promote international students to come and study in Singapore, Tuition Grant is offered. This is done by the Singapore Ministry of Education. For receiving this grant the only criterion is, the candidate has to fill a bond of three years where he/she has to stay back in Singapore and work in a Singapore company after completing the studies. This way, they don’t have to pay back to the Singapore government in monetary terms but in kind.
Likewise, international students are eligible for scholarships from various external foundations and institutions. ASEAN Undergraduate Scholarship, NatSteel Study and SINGA are a few to name. Universities themselves also offer financial assistance to its foreign prospective students, for instance, SMU Scholarships, NTU Scholarships and NUS Research Scholarships, etc.
These grants and scholarships in Singapore are offered for undergraduate, graduate and diploma programs making it available at every level. Hence, there are, relatively, less number of students who study in Singapore by paying the whole of their tuition fees.
Crime Rate in Singapore
According to a 2018 global study, published in a leading Singapore daily, for the 5th consecutive year, Singapore has topped the Law and Order Index. According to Gallup, a research firm, 94% of Singaporean adults feel safe while walking alone at night, compared to 68% of the global average.
In 2017, Global Smart City Performance Index had ranked Singapore as the world’s safest city. All these figures and data lead to only one conclusion – Singapore takes its Law and Order very seriously.
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Source: GALLUP WORLD POLL 2017
Cost of Living in Singapore
According to the Economist Intelligence Unit’s (EIU) Worldwide Cost of Living report, Singapore has been termed as the most expensive city in the world, consecutively. So you might ask the most obvious question - is it worth living in Singapore especially being a student? Though being expensive it is important to understand that the cost of living in Singapore for a student mainly depends upon the choices they make during their stay here. For instance, choosing a university hostel or shared rented accommodation decreases your cost. Opting for public transport for your travel will naturally be lower in cost compared to travelling by cab or buying your car. There are some restaurants, if not many which offer food at cheaper rates. So you need to figure out which ones and keep eating there time and again.
Lastly, the tuition fee, which occupies the biggest chunk of your total cost of studying abroad, is mostly covered by grants, scholarships and fellowships. Singapore is famous for giving its students tuition grant with a host of scholarships.
Now if you will find out the cost of living in Singapore, you will realise that the average cost of living there will come out to be lesser than the cost of living in the US, UK and Australia.
Feeling alienated in a new country is almost irreplaceable. But not with Singapore. You will see people with different ethnicities walking down the streets of Singapore, especially from Asia-Pacific. It is a country with a multi-racial composition. The official languages being English, Tamil, Malay and Chinese can give you a good idea of how multicultural the country is. It is important to register, English is the widely spoken language in this country, so you won’t be facing much of a language barrier that is for sure.
Permanent Residency in Singapore
According to recent figures from a report, 82% of those who apply for Singapore PR get successfully accepted. Over the last 10 years, approximately 6000 international students were granted Singapore PR after completing the graduation there. Adding further, 1072 students took up citizenship at the end of 2017, as reported by The PIE News. Graduates who stay back in Singapore post completion of their studies have job security as the country suffers from 2.2% of unemployment only. This is a very small number compared to other Southeast Asian nations.