I can't believe another tragedy happened again... It's a great loss to the INSEAD community...
link http://wimdebruyne.blogspot.com/2007/10/very-sad-news.html )
My deepest condolences to their family and loves ones... May the Lord be with them...
When one of the students passed away earlier this year, I remember how saddened his classmates were ... A few of his friends initiated a scholarship in memory of him, and I was deeply moved by such meaningful act. Am sure his classmates will always remember them in their special ways...
Sunday, November 4, 2007
For My Sweet Dreams
For my sweet dreams...if I could have...since the experienced wise ones always warn that time will be the rarest commodity at INSEAD :p
Housing search is another 'fun' process. How I envy those who has no budget concern :p
Fonty offers many beautiful chateaus and well furnished rooms to rent. For a city turtle like yours sincerely here, a spacious accommodation in proximity to the nature, not to the typical crowded places filled with air and noise pollution, seems so surreal.
Have contacted my French landlord using my very limited French, with English subtitle. Hope to receive a good news soon :)
Housing search is another 'fun' process. How I envy those who has no budget concern :p
Fonty offers many beautiful chateaus and well furnished rooms to rent. For a city turtle like yours sincerely here, a spacious accommodation in proximity to the nature, not to the typical crowded places filled with air and noise pollution, seems so surreal.
Have contacted my French landlord using my very limited French, with English subtitle. Hope to receive a good news soon :)
Financing a VERY expensive investment
They like to assure you that financing should be the last consideration when you plan to study at an ivy-league MBA
Everything will be resolved, so they claim.
(p/s. you most probably can't borrow to finance living expenses from a Asian bank)
Well, I manage to kinda solve mine... after much pulling of hair (mine..)and frustrations due to earlier miscommunication and misinformation ...
In the process, I have probably self-taught a mini-module on financing for a business venture with minimal capital :p, the importance of positive relationships and network (because the banks need co-applicants), and financial analysis of leveraging options (a.k.a loans...)
It is extremely important to obtain from the bankers ALL relevant information. Keep asking if there is anything they have yet disclosed, because from my experience, they somehow reveal gradually the terms and conditions, charges $$$ etc, perhaps so not to scare us poor students away?
Eg,
- Different processing fee may be applied for different number of co-applicant. The difference for the bank to just 'process' the loan can amount to over $1000.
- If you need a buffer for the loan amount approved to prepare for an unexpected drastic forex movement, what's the cost?
I was offered to pay an additional $400 admin. fee for such service. The cost is upfront and not refundable even if I don't eventually utilize that extra amount. Did some calculations and figured that it won't unnecessary for my case since my tuition fee instalments are all due within the next 5.5 months.
I applied a simple analysis of option pricing (in theory).
a) the buffer my approved loan amount already gives.
b) the maximum threshold for the exchange rate to rise beyond what my loan amount can absorb.
c) the estimated risk of such drastic forex movement between now and the last instalment.
d) estimated extra cost to be paid in cash. I used 2-3 rates to calculate my cost.
e) compare (d) with the option fee charged by the bank.
f) take into consideration of cashflow needs
Perhaps the following considerations would also be useful as you explore your options.
- If the bank requires the co-applicant (ie. guarantor who is required to disclose their income and liability) to be a family member, holds a residency status, is below a certain age, has a good income etc.
- If the bank allows your guarantor to have access to the loan account. May need to compromise on your privacy.
- Any penalty on refinancing or early redemption of loan
And, I recommend any loan owner to get insurance. It provides the co-applicant, who kindly agree to risk their asset and creditability with the bank, a better peace of mind.
Everything will be resolved, so they claim.
(p/s. you most probably can't borrow to finance living expenses from a Asian bank)
Well, I manage to kinda solve mine... after much pulling of hair (mine..)and frustrations due to earlier miscommunication and misinformation ...
In the process, I have probably self-taught a mini-module on financing for a business venture with minimal capital :p, the importance of positive relationships and network (because the banks need co-applicants), and financial analysis of leveraging options (a.k.a loans...)
It is extremely important to obtain from the bankers ALL relevant information. Keep asking if there is anything they have yet disclosed, because from my experience, they somehow reveal gradually the terms and conditions, charges $$$ etc, perhaps so not to scare us poor students away?
Eg,
- Different processing fee may be applied for different number of co-applicant. The difference for the bank to just 'process' the loan can amount to over $1000.
- If you need a buffer for the loan amount approved to prepare for an unexpected drastic forex movement, what's the cost?
I was offered to pay an additional $400 admin. fee for such service. The cost is upfront and not refundable even if I don't eventually utilize that extra amount. Did some calculations and figured that it won't unnecessary for my case since my tuition fee instalments are all due within the next 5.5 months.
I applied a simple analysis of option pricing (in theory).
a) the buffer my approved loan amount already gives.
b) the maximum threshold for the exchange rate to rise beyond what my loan amount can absorb.
c) the estimated risk of such drastic forex movement between now and the last instalment.
d) estimated extra cost to be paid in cash. I used 2-3 rates to calculate my cost.
e) compare (d) with the option fee charged by the bank.
f) take into consideration of cashflow needs
Perhaps the following considerations would also be useful as you explore your options.
- If the bank requires the co-applicant (ie. guarantor who is required to disclose their income and liability) to be a family member, holds a residency status, is below a certain age, has a good income etc.
- If the bank allows your guarantor to have access to the loan account. May need to compromise on your privacy.
- Any penalty on refinancing or early redemption of loan
And, I recommend any loan owner to get insurance. It provides the co-applicant, who kindly agree to risk their asset and creditability with the bank, a better peace of mind.
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