Discover top international student loan options in the UK

The UK universities attract the second-highest number of students from India. Indian students prefer the UK as a study abroad destination because of its world-class education. But the UK is among the most expensive countries in the world to study in. So, how do Indian students afford to study there? By getting an education loan for UK study. Keep reading to know how Lorien can help you. Lorein can help you.

Many banking and non-banking institutions offer low interest loans for Indian students wanting to study in the UK. To check if you’re eligible to get a study loan for the UK, you need to check these boxes:

1. Be an Indian citizen.
2. Must be above 18 years of age (or get the education loan in the name of your parents)
3. Already be enrolled at a recognized UK university.
4. A co-applicant (either parents or spouse) who has a stable income

Note: The listed criteria are basic ones for Indian students going to UK universities but to apply for a particular university, it is best to check their respective eligibility criteria.

The banks that offer student loans check your ability to repay the loan after completing your education. To do that, they confirm that you are a legal student who has been accepted into a reputed university in the UK.

1. A filled copy of the loan application form
2. Identity proof
3. Address proof
4. Proof of income
5. Passport sized photos
6. School and university mark sheets
7. Copy of a foreign exchange permit
8. Assets and liabilities summary of the co-borrower
9. Other financial documents

Note: Make sure to check the list of papers needed with the bank, as the requirements can vary based on the bank's rules for student loans in the UK

It is always a good idea to check what your loan covers, besides the tuition fees. Many loan programs now help with more than just tuition fees—they can cover various expenses in the UK like:

1. Tuition fee
2. Travel
3. Accommodation & Rent
4. University fee for the course
5. Food costs
6. Living expense
7. Laptop
8. Research/project-related expense

In India, there are generally two types of student loans for studying in the UK:

1. Secured Education Loans: To apply for a secured education loan, you need to have collateral like apartments or government bonds.
2. Unsecured Education Loan: To apply for an unsecured education loan, you don't need any collateral as a guarantee but you need a co-applicant whose income decides whether or not your loan is approved.

The UK is home to world-class universities for international students but it is tough to get admission into them without a loan or scholarship. Here’s how Indian students can choose the best education loan program to fund their dream college and explore all the opportunities in the UK.

1. Students can opt for moratorium periods which are sabbaticals that are almost the length of the course. They can pay back the interest of the loan during this time so that the burden of paying the loan back is lightened later.
2. Opt for the option of paying in installments so that your study loan for the UK gets divided into EMIs.
3. As an Indian student studying in the UK, don’t forget to claim your tax benefits under Section 80E of the Income Tax Act.

Lorien is your one-stop destination to fly to your dream country and make a successful career by taking care of your entire study abroad plans in the UK. Here is why Lorien is your best buddy for your abroad dream:

1. We Help students in getting loan that covers 100% university fees and cost of leaving.
2. We charge ZERO fees for our services
3. We help you navigate necessary cosigners for Indian banks & no cosigner provisions for international banks at low interest rates.
4. We help you compare the best education loans possible.
5. We keep track of your loan application and bargain for the best price.

The UK is widely chosen by Indian students for higher education. While they offer a number of courses, here are the ones that offer favourable career choices in the future:

1. Business and Management
2. Engineering
3. Computer Science and Information Technology
4. Medicine and Healthcare
5. Law
6. Creative Arts and Design
7. Hospitality and Tourism Management

Indian students who pursue higher education in the UK need to apply for a visa. The specific requirements can vary for each student, but here is a list to take note of:

1. A valid passport
2. Evidence of funds to cover living expenses
3. Confirmation of Acceptance for Studies (CAS) reference number and related documents
4. Passport-sized color photos
5. Tuberculosis screening certificate (mandatory for South Asian countries)
6. Assessment documentation
7. Academic Technology Approval Scheme (ATAS) clearance certificate