What students say

It would seem that most young people are still firmly holding on to their higher education plans.

'Realistically, I don't think we have been as affected as the West,' says Kohila Menon, 18. 'My family may have to cut corners by spending less on 'luxury items', but I don't think my education will be one of those things.'

STPM student Tan Ai Lee, 19, foresees the local economy deteriorating, but feels it will not be enough to affect her university choices. 'Unless the government decides to reduce the number of student loans given out this year, I'm not really worried about continuing my education,' she says.

For students who have reserves set aside for higher education abroad, the current exchange rate may actually work in their favour.

'With the state of the American currency, I think my funds can stretch even further now,' says Kimberly Mehta, 19, who plans to do a double degree in business studies and performing arts in the United States.

Having just completed the International Baccalaureate programme, she thinks her chances of getting into a good university are even higher because young Americans are thinking twice about going to college.

'I have cousins there who are graduates and working in video rental stores because of the mass retrenchment,' Kimberly says.

Jeanne Tan, who has a partial scholarship to study at a university in Canada, reckons that it will be cheaper to study there than locally. She had 'paid through my nose' to study at a private college here, but wasn't satisfied with the course.

'I want to do a double major in political science and feminism. It's better to go overseas and work part-time there to pay for my living expenses,' says Jeanne, 21.

Some students imply that the tides of the global economy have little impact on their lives. 'I can't say that my education plans have been affected because, to be honest, I haven't given it much thought,' said A Levels student Arthur Chia, 17, who plans to study architecture in Australia.

Over nine school leavers interviewed for this article professed total ignorance about the world economic climate.