Hmm yeah, and costs of living in Singapore aren't exactly Low too. Where are you from?
And yes, my concerns are yours too! I live here, but I don't fancy having to pay off debt for years, especially with other life commitments coming up in the next few years. With no guarantee of a high-paying job - or even a job at all - after graduation, it's too huge a risk to take. The only thing really, that's stopping me from going ahead is the cost. There are benefits to this degree yes, but the risks and costs are too high.
I'm waiting on a reply from my company at this point, as I'm currently already on unpaid leave. Depending on the outlook for return to the company then, I'll be able to make a better choice.