How to Be a Loan Ranger

No, we’re not going to talk about how to be lonely. We’re going to talk about every student’s worst nightmare; money and loans. To make money, you need a good job. To get a good job, you need a degree. To get a degree, you still need money. So basically, you can never win.

So unless you’ve got a scholarship or parents that are able to pay for your education, the only choice you have is to get a student loan. But taking on that loan is pretty much like burying your problems into a faraway graveyard, living in peace for a few years and having it haunt you as soon you’re employed. Trust me, it’s not fun. But for many of us, it’s the only choice.

Your Loan Before Studying

Make others pay

Before you get your hands dirty doing research about loans, you should do some research on scholarships first. The best way to get an education is to make others pay for it, of course. You should find out whether your home country or university or program offers financial aid so you won’t have to take the full amount.

Meet and Greet Sessions

Different banks or organizations offer different types of loans which vary in interest rates, grace periods and minimum amounts you need to pay. It’s good to go to different organizations and ask which one of them best suits your program and your bright future. Be sure to read the terms and conditions to know what you are getting yourself into.

Don’t Be a Unicorn

Okay, so the worst scenario that might happen in the future is that you have taken a loan to study but then you are still not able to get a job with the degree. And worst part is that you are now in debt with no income to pay it off. Try to minimize that risk. Is your degree as rare as a unicorn? As appealing as that sounds, you might want to reconsider your options. A marketable degree where it is easier to find a job lowers the risk of unemployment.

Your Loan While Studying

Be a Nerd

Remember that the reason you are studying is to get a good job. Believe it or not, good-paying companies are picky when hiring and they get even pickier when reviewing your academic transcripts. What better way to impress them than to show them your good grades? Plus, some lenders offer incentives where the loan interest rate decreases as your CGPA increases.

Have an Early Start

Some study programs require their students to get an internship. If the internship is a paid internship, you might want to think about giving your lenders a call so you are able to pay off some amount of your loan to lighten that load.

Your Loan After Graduation

Keep in Touch

Keep your lenders updated. If you are not yet able to find a job, let them know rather than stay quiet. You could negotiate on the starting date of your payment. If you have chosen to further your studies, let them know as well. Some lenders allow you to delay your payment until you are finished with the student life.

Run from Your Lenders Once You’ve Graduated

No, I wasn’t serious about running away from your lenders. Never, I repeat, never try to run away from your student loan. You might have to face some serious consequences depending on your lenders and the type of loan that you have taken. But nevertheless, if you choose to run, you are going to have a bad credit record and have a hard time applying for other loans (cars, property etc.). So at any costs, do avoid running away from you r lenders.

That is all for now. Hope this article helps!

3 Comments
  1. CWTE Technologies 2 years ago

    Is this post even for foreigners? How can foreigners get loan in Malaysia?????

  2. Ali Yaqub 2 years ago

    Hi emgs i 35% from 12/12 why its not move he told me it take 7 to 10 working day

  3. Ahmad Seddiq 2 years ago

    First of all thanks for sharing such helpful topics. If you know any organization or bank which offers such loans, could you mention its name please?
    Thank you
    Looking forward your reply.

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