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Tertiary Education and Graduate Studies can be too costly especially to people who live by one cost at a time without any savings plan what so ever. On the other hand, just because a bank tells you that you are qualified and approved for an education loan does not mean taking it is a good idea.

Here are 4 Things to Consider Before Applying For An Educational Loan:

1. EDUCATE YOURSELF

Before applying for any education loan, it is tantamount to understand what the student’s course aspects are such as the eligibility criteria and the loans needed to complete the whole course.

Educate yourself about the loan’s dimensions such as repayment, pre-payment fees, and cancellations.

2. SWIM THROUGH THE WHOLE POOL

Study all the possible options by swimming through the whole pool. Some banks offer the best interest rate while others offer the best processing fee. So, to save you money, enquire about all the loan schemes available in the market.

3. KNOW THE TOTAL COST

Be aware of the interest, pre-payment fees, additional processing fees, repayment options, and cancellation fees. It is always better to get rid of the debts as soon as possible but some banks may impose additional charges for pre-closure of the loan. So, ask yourself if is worth it.

Usually loan applicants concentrate only on the principal and interest to reach repayment amount. By doing so, you will have to pay extra charges that the bank authorities have not clarified. This is why it is vital to ask after educating yourself.

4. CHEAPER ALTERNATIVES TO REACH THE GOAL

Explore if there are cheaper ways to reach the same goal. Other universities offer online diploma courses that are cheaper than if you take it up on the university’s premises.

Image Credits: Will Folsom via Flickr

But, if you have done the math and your financial account cannot cover the expenses just yet…fret no more. Be resourceful instead. Volunteer works, internships, and a Polytechnic diploma may help you acquire the necessary skills without going back to undergraduate school.

By obtaining a diploma in the same field you will take in undergraduate school may help you get other subjects exempted. I have a couple of classmates who are exempted for a couple of semesters or even a year just because of the subjects and electives they have taken up in Polytechnic. Hence, it will not only save you time but it will also save you money.

Combining running, swimming, and biking gear expenses…some people spend more in competing for Triathlons than others. If you will adopt these 6 Simple Ways, you may significantly lower your financial expense of training and joining in triathlons.

1. EXPLORE YOUR CHOICES

Don’t just rely on the sports shops in the malls that sell Triathlon gear, also explore good prices in the Internet such as: Bike Plus Singapore, Ebay, Amazon,Treknology Bikes 3 Singapore, and Carousell. Online stores have sales and clearance of their last year stocks where you can save money. It is important to shop around, and compare prices before purchasing to get the best deal.

2. REGISTER EARLY

Take advantage of the lower early-bird fee for Triathlon events. If you wait for the last minute, then you will have to pay more! Also, choose races that fit your budget and capacity.

Swim/Bike/Run by bradleypjohnson via Flickr

Image Credit: bradleypjohnson via Flickr

3. SHARE YOUR TRIATHLON RESOURCES

Share your Triathlon books and other racing magazines with a group of friends. What’s more? The Internet is full of free training videos and tips that you may repeatedly watch in the convenience of your home. You may also watch it on hand phone anytime and anywhere!

4. TAKE ADVANTAGE OF THE TOWN’S SPORTS FACILITIES

You may train your swimming skills in the Town’s swimming stadium, which costs about $2. Another great and cost-free way to train your cycling and running skills is to park hop across the lush greeneries of the Park Connector Network.

Park Connector Network connects all the parks in North East, East, North, South, West and Central Region. You can download the walking trail or cycling trail here.

5. SAVE ON TRAVEL EXPENSES BY CAR POOLING

With the price of gas and taxi fares, consider car pooling together with others to the Triathlon events. Enjoying a chat before the race will help you calm your nerves.

6. LASTLY, DON’T BUY THE UNNECESSARY

For instance, there’s no reason to purchase a swimming cap because every time you register for a Triathlon, they will most likely give it to you for free.

Aside from renting a bike in the racing venue, you may covert your road bike into a Tri bike. Do this by making a few position adjustments, and by adding aerobars and aerowheels. You didn’t have to buy a new bike plus you save more money!

Image Credits: Jimmy Harris via Flickr

There are more ways to save money as a Triathlete (e.g., making your own hydration drink), you just have to be diligent, clever, and resourceful!

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