Hmm as I've mentioned before, unlike normal Tuition Fee Loan and Study Loan Schemes from the bank, CPF Education Scheme incurs interest from the moment it's withdrawn as this is to ensure that the person of whom you borrowed that money from will continue to maintain their original retirement savings. Although some felt better as it means borrowing money from their parents but.. If you can afford to repay back majority of your loans after graduation, it's better to take the bank loan after all. But whichever is the case, it's best to secure your loan repayment from the moment you take it using term insurance policy so that it's a lot more affordable and value for money during the schooling term. After all, we want to protect our family from the debt we incur in our sch fees and we do want to protect their retirement funds as well.
Just make sure that your calculations and plans is right. With the right plan to repay the debts and the right policy bought, that's the best thing we can do at this point in time. :)
