as Bealzebub states, the monthly loan (if counting 40k to repay with 50% total interest over 15 years) would be $333.3pcm.
That presumes fixed interest rate - I worked it out to 5.8% annual rate if compounded monthly, ie 180 repayments.
The values would be a bit different if considering deferred payment, by 2 years as you state. Is that 15 years from start of the loan or after 2 years, when paying back kicks in? I guess interest is accrued over repayment holiday so the 5.8% APR wouldn't be exactly so. If 2yr hols plus 13/15yr repayment period, the actual monthly payments would be touch more.
Can't find any equation handling repayment holidays, Excel doesn't show it, bit sleepy.
If you don't expect interest rate cuts (fixed repayments and % rate vs tracker, pros and cons - see US, UK etc), that's OK deal, compared to current loan rates in the UK or US. Sure, collateral and parents as guarantors.
It would be nice to be able to get such loan as unsecured (in Europe)- some of us don't or won't have anything as security or someone co-signing the contract.
As others mentioned, read and understand or have it checked.
I've got no idea regarding recruitment with PAL or anything around the region for that matter. I wish I had my funding ready. I though I had. Inheritance not being sold, projected savings - in GBP, ouch
(studies, can't just swap country right now) etc.
Mach086,
Do you know any Filipinas with US/OZ passport?
I'd help out with UK papers
I know, mixing business and pleasure, blah blah. I'd like to have it all.
Doesn't speaking no Tagalog hinder the chances?