Why You Should Study in New Zealand?

New Zealand is fast emerging as an attractive study abroad destination for international students. New Zealand Universities, Institutes of Technology and other educational institutions are known for the unique learning environment they provide. Over the past few years there has been a consistent growth in the number of overseas students choosing New Zealand as their study abroad destination.

Why you should study in New Zealand?

New Zealand is a modern, secular, democratic society with no ingrained class system. It has a clean, green, warm, friendly and safe environment. Today, people from over 145 countries call New Zealand their home.

New Zealand provides education at relatively low cost. The cost of living is low and the quality of life is good. There are no language barriers and you will find plenty of easy part time job opportunities while studying. The approximate tuition fee per year is NZ$ 15000 (Rs 4,65,000) and living expenses NZ$ 12,000 (Rs 3,72,000).

Can I work in New Zealand after finishing my education?

Yes, you can. A New Zealand education not only provides you a world class degree, it also provides you a great opportunity to work and reside in this wonderful country after the completion of your course.

What are the subjects in the absolute or long term skilled shortage list?

Analytical chemistry, architecture, farm management, construction management, physiology, civil engineering, nursing, trade courses, IT, teaching, horticulture, viticulture, oenology, social work, health science, cookery and graphic design are some subjects coming under this category.

Dependent visas and work permits

The spouse of a student going for a skilled shortage course or a PG course is allowed to work full time. You are also allowed to work part time - 20 hours a week during the regular term and 40 hours during breaks.

Paid/unpaid internships with courses are available, making the learning environment practical. Bachelor degrees are generally of 3 years duration, however engineering programs are 4 years long.

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When Should I Do a Prepayment For My Housing Loan?

The most straight forward answer to the above question is: Do your prepayment when you have the money! However, you should not just do your prepayment as and when you like. It is best to draft out a plan for prepayments.

Prioritize your debts

At some point of your life, it is possible that you might have different types of debts. They can range from the auto loan for that Alfa Romeo, student loan for that MBA, personal loan for that latest financial system and so on. So you got a housing loan too, and you are planning a prepayment for it. Now should you? Decide which of your loan is good or bad. Decide which loan has the most pressurizing effect on you. From there, work out a plan and decide which of these loans gets paid off first. After that, see if you have enough money for a prepayment.

Did you save?

Remember; keep a portion of your money for savings. If you have no private bankers or financial consultants to attend to you, you can try putting your money into the CPF account. Doing a prepayment but not saving can be a bad idea. You never know what might happen in the long run and there may be a sudden need for some extra cash. You may not be able to apply for that equity loan or overdraft as and when you pleased. Approval depends on financial profile and the type of property that you possess.

Draft out that prepayment letter clearly

Most banks require you to give a one month's notice prior to prepayment. Remember to draft out the letter as clearly as possible and keep that copy as a template on your hard drive. You will be using it often. Remember to state that the prepayment is made towards the principal. Do not wait until prepayment has been done and the bank uses it for next month's payment instead.

Prepayment definitely allows you to build up equities in your house quickly. It is best that you own your house fully before you retire as it can give you a peace of mind. This is especially so for government civil service staffs. Doing so allows you to fully enjoy your retirement period without having to worry about the next payment. However, do take note that each situation is unique and doing a prepayment may not be the correct decision for everyone. It is best that you talk to your mortgage advisor on your unique financial situation.

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