Handle Everything: How to Pay a Mortgage Loan During Studies in Singapore

To be completely honest, when I first heard the expression “mortgage repayment,” I was on a study break, and I thought my friend was joking. Who, aside from my friend, is a student thinking about how to pay a mortgage loan during studies in Singapore? As most of us are just trying to consider whether we can afford McDonald’s after 10 p.m.?

But seriously, she was being completely serious. She has a mortgage in her name because her parents added her as an additional borrower on the HDB flat. And while some of us were disputing who ate the last of the food or used the last cash from the laundry card, she was acting like a little accountant, figuring out monthly mortgage repayments on her phone.

I was surprised and chuckled at the time. Fast forward, you will never guess who is paying the mortgage now? Yes. Me.

I sit here on a stiff library chair (you know, the kind that makes your backside numb in 30 minutes), iced kopi is dripping next to me, and I am writing this in between two classes (as paying off loans, mortgages, and being a student is a newfound reality for me).

This is how I have been functioning, in a somewhat disorganized student manner.

Face the Scary Numbers: Don’t Run

I get it, I get it. The first instinct is not to look at this loan amount, as it makes your chest tighten. But you can't plan around something you aren't looking at.

What I did well:

1. I logged into my banking app (after not looking at it for 3 weeks).
2. I looked at the loan amount remaining, the monthly payment, and the interest rate.
3. I wrote them down on a real sticky note and stuck it to my laptop.

It seems small, but seeing it in writing really took away the feeling of it being all unclear. It's like taking off a Band-Aid (hurts for a second, then you can breathe again).

A tip from a "finance friend" (who likes to show off): Set calendar alerts for payment due dates. Missing a payment can hurt your credit score even before you graduate.

Side Hustle that Actually Works in Singapore

Many of us cannot work full-time while we study, but if you're serious about covering some or all of your mortgage payments, you're going to need the additional income. I tried a few things, and some of them surprisingly worked.

Here we go:

• Parents in Singapore love tuition. I posted on Carousell and in a Facebook group, and within a week, I had two P6 students for English and Math. That covered a portion of my monthly payment.
• Campus Employment

If your university offers positions as a student assistant or library helper, take them! They usually pay well, and you can study during slow times of the day. A friend of mine works at the help desk for IT, drinks bubble tea all day, and gets to keep getting paid by the hour.

• Freelance Writing / Creating

This resonated with me. I began picking up small content projects, sometimes providing finance assignment help to international students. This is flexible, online-based. If you are proficient with grammar or Canva, you can make some decent money.

• Meal Delivery/Part-time
  If you can’t find anything, this in fact, the classic

Consider Re-structuring

This part terrified me. I thought banks were powerful, formal institutions that would make fun of a poor student 'exploring options'. It turned out they did have restructuring options for students, especially in Singapore, where several young adults have family-owned properties.

Here's what happened when I nervously walked into the branch. The banker did not judge me; they told me I could ask for a temporary decrease in monthly payments, or I could extend our loan term so that I was paying less every month while I was in school. The banker also pointed to a temporary interest-only repayment phase (some banks allow that if you can prove that you are a full-time student). I walked out feeling that I had options, not just anxious. At the same time, if you're really unsure, you can talk to assignment help that serves finance or business students, and they'll even help you put together a simple growth restructuring request letter. I did that, and it is worth it.

Use Student Help Where it Exists.

Singapore does provide more help than many students think. You just need to ask.

• University Financial Assistance

Many universities will offer you emergency or hardship financial assistance. Some will do it confidentially. A friend of mine applied confidentially and received a lump sum that paid for two months of payments.

• Government Programs

Some programs assist young homeowners to defer payments while they are in full-time studies. Go to your HDB or bank's site; often, this just involves a simple application form.

• Assistance for Academic Time Management

I often downplayed how financial demands cause you to lose focus. I approached my academic advisor, and she was a tremendous help in restructuring my semester so I could work part-time without damaging my GPA. If you are multitasking, don't try to do it alone.

Small but Real Mindset Shift

I will not sugarcoat it: managing a mortgage while in studies is hard. I mean, lying on your bed staring at the ceiling hard. Here are some mental tricks I used to motivate myself to keep going:

• Stop comparing. Your friends look comfortable, but that's because they don't have any commitments. That's OK. You are on a different course of life.
• Acknowledge small victories. Simply paying a portion of your payment every month is a big deal.
• Remember it won't last forever. This is a chapter, not the whole story.
• Sure, there have been nights I still eat ramen noodles while reviewing my loan numbers. That is real life.

Where Financial Assignment Help Actually Comes in Handy

Oddly enough, all this loan prep helped me with my finance classes. For our project on debt restructuring, I literally used my own case study. I got an A.

Also, if you're completely lost on how mortgage interest works, help with finance assignments is a good bet. Their help can be useful even for personal finance courses. They sometimes have personal tutors for specific classes, and if you are using assignment help for essays now, you might be able to bundle it in.

Random Late Night Thoughts

The other night, just after 2 a.m., I was cycling home from my late-night job with a gusty wind rolling against my skin and everything in this little city still, when I had a thought. While many will describe the years of students as "carefree," for some of us, it's anything but. We've got bills, deadlines, and accountability that creep up sooner than we think.

But still, that builds resilience.

I may be tired, but I am not helpless.

And Remember…

1. Know your numbers. Don't walk away from them.
2. Find flexible side hustles to fit your schedule.
3. Talk with your bank - restructuring is on the table.
4. Create a budget to avoid accidentally using money from your loan.
5. Use the resources available to you - university scholarships, government programs, extra help with assignments.
6. Pat yourself on the back for trying.
7. Studying with a mortgage is not the norm, but it can be done. It's hectic, inspiring, and sometimes funny - but it can be done.