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The depreciation of the Ringgit has added a layer of complexity to the financial landscape for Malaysian students pursuing education abroad, creating a significant burden for both students and their families. The pursuit of higher education, while promising, is fraught with unforeseen challenges.
Janice Yew, Chief Operating Officer and Registrar, Heriot-Watt University Malaysia acknowledges the difficulties faced by Malaysian students, especially concerning loans and scholarships. The volatility of currency values and rising overseas costs have led to a nuanced situation where some students find limited options to continue their education domestically due to financial constraints. Moreover, the escalating expenses have forced some to abandon their aspirations of studying at global universities altogether.
Amid these challenges, Yew encourages students not to forsake their dreams but instead explore alternative pathways to higher education that offer increased flexibility, ultimately enhancing their employability post-graduation. She emphasises the need for a strategic pause - a moment for students to fortify their educational foundation locally before embarking on global adventures.
According to a recent QS global employer survey report, 80% of employers actively seek graduates with international experience, providing them with a competitive edge in today's interconnected business landscape. The exposure gained while studying abroad fosters diverse thinking styles and experiences, offering students a fresh perspective on life, aspirations, and career paths.
Yew clarifies: “Advocating for flexible study pathways doesn't imply a retreat from international experiences. Instead, it promotes a strategic approach to education, ensuring that students don't compromise the quality of their education with global exposure. This approach not only cultivates a responsible attitude toward education in uncertain times but also positions students to thrive in an interconnected world.”
Many universities, including Heriot-Watt University Malaysia (HWUM), have introduced flexible pathways for students, allowing them to complete their degrees entirely in Malaysia or opt to study part of their degree abroad. This approach tailors education to individual needs, providing the best global education option without sacrificing financial stability.
Commenting on her experience with HWUM's Go Global inter-campus transfer programme, Nicole Chang Wen Wen, an Accounting and Business Finance alumna, highlights the value of such flexible pathways: " Taking part in Heriot-Watt's Go Global inter-campus transfer programme gave me the opportunity to step out of my comfort zone and gain new experiences. My parents saved substantial costs on my education through Go Global where I need not be overseas for all 3 years of my degree, but instead had the option for a '2+1' programme, in which I studied my first two years at the Malaysia campus and transferred to Edinburgh, UK for my final year. I had the privilege to be employed by KPMG UK in 2022 when I graduated, where I am still working here in Edinburgh. My experience working in the UK with different cultures and communities has truly developed me and grown my opportunities as a global citizen. Many employers appreciate the diversity that international employees bring to the organisation, recognising the different experiences and perspectives they bring. I would encourage any student to take up Go Global within their capabilities, even if it was for one semester to broaden your horizons and avail yourself to global opportunities.”
Yew stresses that choosing institutions with flexible pathways locally not only eases financial burdens but also ensures a sustainable and adaptable educational journey for aspiring students. “This approach recognises the economic challenges faced by many Malaysian students and offers a practical solution aligned with the current global economic landscape,” she added.
Towards this, Yew urges Malaysian students and their parents to research additional support provided by global universities. Institutions like HWUM offer a range of scholarships, discounts, bursaries, and financial assistance to help students pursue academic excellence.
“Education is a valuable investment, providing not only academic excellence but also cultural exposure, personal growth, networking opportunities, and the chance to learn from leading experts in various fields,” concludes Yew.