Essential Money Checklist for Indian Students Going Abroad

Your bags are packed, the visa is stamped, and your dream university is just a flight away. But before you board, ask yourself: Are your finances fully sorted? For many students, last-minute money oversights like a forex card not being loaded or insurance not activated can create unnecessary stress in the first few weeks abroad.

This essential money checklist for Indian students going to study abroad is designed to simplify your financial preparations. From confirming loan disbursements to setting up emergency funds, Lorien Finance has compiled this guide using insights from thousands of Fall ’25 aspirants who have successfully started their global journeys.

Why an Essential Money Checklist Matters for Indian Students Going Abroad

Studying abroad isn’t just an academic milestone; it’s also a major financial commitment. Without proper planning, students risk facing hidden charges, delayed transactions, or unexpected expenses upon landing. By following an essential money checklist for Indian students going to study abroad, you’ll have a clear plan that ensures every financial detail big or small is taken care of.

1. Education Loan Disbursement: Confirm and Secure

• Ensure your education loan is fully sanctioned and aligns with your university fee schedule.
• Complete all margin money requirements and keep disbursement receipts handy.
• Lorien Finance’s Loan Fest helps students compare lenders with interest rates starting at 3.39%*, plus assured rewards worth ₹2,000 for every successful disbursement.

2. Forex Card and Currency Preparation

• Load a forex card with sufficient funds and carry a small amount of foreign currency in cash for immediate needs like cabs or groceries.
• Test the forex card before traveling to avoid card-blocking issues.
• Choose providers with low conversion fees and better exchange rates.

3. Health and Travel Insurance

• Verify whether your university mandates specific insurance coverage.
• Ensure policies cover medical emergencies, hospitalization, baggage loss, and trip delays.
• Compare private insurance options with university plans & private coverage is often cheaper and more comprehensive.

4. International Transfers and Bank Accounts

• Research banks that allow opening accounts remotely before arrival.
• Enable international transaction settings on your Indian debit/credit cards.
• Understand remittance options like SWIFT transfers and fee-saving platforms.

5. Budgeting and Emergency Fund Planning

• Draft a detailed 3-month expense plan including rent, groceries, transport, and miscellaneous costs.
• Maintain an emergency fund in both local currency and INR.
• Use apps like Wise or Revolut to track expenses and manage foreign transactions seamlessly.

6. Document Backups and Digital Copies

• Keep digital and printed copies of loan sanction letters, bank statements, insurance documents, and forex card details.
• Save emergency helpline numbers and card-blocking contacts offline.

7. Loan Fest Advantage for Fall ’25 Students

Lorien Finance’s Loan Fest is designed to help students make smarter financial decisions:

• 17+ Indian and global lenders to compare in one place.
• Exclusive rewards such as MacBooks, iPhones, and study abroad travel kits worth ₹20,000.
• Interest rates starting at 3.39%, tailored for quick approval and faster last-minute disbursement.
• We can assure you that this is definitely a must have checker  in your essential money checklist for Indian students going abroad

8. Essential Money Checklist for Indian Students Going Abroad

Here’s a quick version of the essential money checklist for Indian students going to study abroad:

• Education loan disbursement confirmed and receipts saved.
• Forex card loaded and tested.
• Health and travel insurance active.
• Emergency cash and budget plan ready.
• Digital and printed financial documents secured.

Don't Worry Just Fly Stress-Free

Preparing your finances is as crucial as packing your bags. A well-planned essential money checklist for Indian students going to study abroad can save you from last-minute hassles, unexpected charges, or financial stress. With Lorien Finance’s expert guidance and Loan Fest offers, Fall ’25 students can confidently step into their global journey with all money matters sorted. The best way to complete the essential money checklist for Indian students going abroad is by exploring Lorien Finance's services and enjoying a stress-free study abroad journey.

FAQs

How much foreign currency should I carry when flying abroad?
Carrying $500–$1000 (or equivalent) in cash along with a loaded forex card is ideal for initial expenses.

When should my education loan disbursement be finalized?
At least 3–4 weeks before departure to ensure smooth fee payments and fund transfers.

Should I rely on university insurance or buy an external policy?
External plans are often cheaper and provide better coverage—compare both before deciding.

Which is better for transactions: forex card or debit card?
Forex cards offer better exchange rates and lower international transaction charges.

Does Lorien Finance provide forex and insurance support?
Yes, Lorien Finance partners with leading forex and insurance providers to help students plan every financial detail.