Helping fresh graduates cope with student debt

Student loans can put upon pressure for many fresh graduates. Regardless of which country you are from, students are often cornered by the mountain of debts they are left with upon graduation. Many full time students face the challenge of balancing between work and studies in order to make ends meet for themselves.

Here in Singapore, we have to contribute 20 percent of our salary to a lifesaving known as CPF. This arrangement was initiated by the government in order to ensure that all citizens are able to retire with sufficient funds without imposing financial burden to the society and country. However, this results in lesser take home cash.

The objective of this petition is to enable students to pay off student loans using the allocated sum that is put into the CPF savings in order to lighten the burden of students and encourage more student prospects to further their education without the fear of being burdened by a mountain of debt. Despite the housing considerations, I believe that students with higher educational standing is capable of clinching better jobs. As such, reducing the financial burden of these students can help them to focus better in school and encourage more prospects to further their education.

In my opinion, the CPF scheme becomes redundant with well informed individuals. Individuals with better education may look closely into more investments and planning for their future. Thus, I believe that the CPF scheme can be used for a greater purpose such as supporting students throughout their journey.

Doing so can help students who do not qualify for the competitive scholarships and students who are supporting themselves.