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Merchant Navy as a career can be very financially rewarding as long as you sail upto the rank of a Captain in the deck department or become a Chief Engineer in the engine department and continue sailing in that rank for a very years. However, if you join the Merchant Navy and leave soon afte a few years, you would not have earned enough money taking into consideration the high cost that you would have paid for your training. The time taken for a fresher to become a Captain or Chief Engineer is usually about 10 – 12 years.
The cost of training i.e. your pre sea course followed by giving the examination in UK after having completed your sea service varies in the range of 9 – 12 Lakhs depending whether you are joining as a rating, deck cadet or graduate engineer. After clearing your Certificate of Competency examination at Warash Maritime Academy, Southampton, UK, and upon joining back as a Deck Officer or Engineer Officer, you will be earning a salary about 3,500 USD i.e. close to about 1.5 Lakhs Rs / month. This money would be very useful in helping you repay any loans that you may have taken to fund your marine studies in UK and Thailand.
Most students face difficulties in arranging money which is required for joining the merchant navy training in Thailand and UK. A handful of students coming from rich families may be able to afford the expenses on their own but for a majority of students, the only option available is to take educational loans or personal loans. The tragic part is that banks are more willing to loan money to students from rich families who do not need money rather than give money to students from economically weaker sections of the society who are in need of loans to fund their studies.
If your parents are not able to fund you, the student has no choice but to take an education loan from the bank. If for some reasons, the banks are not willing to give you an education loan because you do not have a guarrantor and / or collateral to give to the bank, then you may have to take a personal loan.
Information on the two kinds of loans have been given below. We have also given some information on working from home opportunities for students which might help them to earn some money that may be of help to them in funding their future studies. Most of these work from home opportunities are internet based and hence, there is a topic on buying budget laptops and availing of internet connections so that you can take up part time home based internet jobs.
The cost of training i.e. your pre sea course followed by giving the examination in UK after having completed your sea service varies in the range of 9 – 12 Lakhs depending whether you are joining as a rating, deck cadet or graduate engineer. After clearing your Certificate of Competency examination at Warash Maritime Academy, Southampton, UK, and upon joining back as a Deck Officer or Engineer Officer, you will be earning a salary about 3,500 USD i.e. close to about 1.5 Lakhs Rs / month. This money would be very useful in helping you repay any loans that you may have taken to fund your marine studies in UK and Thailand.
Most students face difficulties in arranging money which is required for joining the merchant navy training in Thailand and UK. A handful of students coming from rich families may be able to afford the expenses on their own but for a majority of students, the only option available is to take educational loans or personal loans. The tragic part is that banks are more willing to loan money to students from rich families who do not need money rather than give money to students from economically weaker sections of the society who are in need of loans to fund their studies.
If your parents are not able to fund you, the student has no choice but to take an education loan from the bank. If for some reasons, the banks are not willing to give you an education loan because you do not have a guarrantor and / or collateral to give to the bank, then you may have to take a personal loan.
Information on the two kinds of loans have been given below. We have also given some information on working from home opportunities for students which might help them to earn some money that may be of help to them in funding their future studies. Most of these work from home opportunities are internet based and hence, there is a topic on buying budget laptops and availing of internet connections so that you can take up part time home based internet jobs.
