Student Loan Debt Consolidation
By:- Tang C Yee
About the author:- He is a Mechanical Engineer now working in Bangkok. His blog is at www.tangcyee.com

As a past student myself, I have learn through all the pains of the loans and debts accumulated on my shoulder and it was a burden too heavy too carry. I remembered that my application to study in London was approved and boy, was I overjoyed!

Not only is this the first time I was getting out of my country, but it is the chance for me to prove that I am capable of making it to the universtiy to further my studies.

There was one major problem, though. Finance Problem. You see, I came from an average family and the funds has been allocated for my brother to study in Australia. Yes, he is one lucky guy!

Anyway, the only way out is to get a finance from the bank in which it was approved. And THIS is the beginning of the nightmare! Armed with cash, the loan was enough only to cover the school fees.

On lodging and accomodation, I have to earn part time to supplement my income to keep me moving. So, not only am I burdened with debts with the bank, I was also stressed with working part time everyday. Luckily, the syllabus was OK for us as we have studied it before in our college diploma.

After graduation, the debts of the bank started counting and that's when the real stress comes in. Getting a job was easy with a degree, but with a mortgage of a car, a house, the debt used to pay my university bills, credit cards (which was overspent)..the list seems endless.

Thank God, all these are over now. A piece of advice for students who are taking a loan to university, spend your money wisely because your debts and nightmare will start after graduation. Save up money, try to spend less and pay off your debts first!





Here are some more financial freedom articles...