FAQs
Lorien Finance is a revolutionary marketplace dedicated to helping students secure the best student loans for their study abroad dreams.
Lorien Finance facilitate getting study abroad education loans to all students who aspire to pursue their education abroad.
Lorien Finance has established partnerships with many banks and NBFCs in India and around the world to offer students the most favourable interest rates. Once you provide us with the required documentation, we will share it with our partner banks for evaluation. After the evaluation and approval process, we negotiate on behalf of the students to secure the best loan offers available. Our aim is to ensure that every student receives the most advantageous loan terms possible.
The documents required for an education loan are divided into three parts:
- Complete KYC (Know Your Customer) of student and co-signer
- Complete academics and working experience of student
- Financials of co-signer
Our goal is to provide comprehensive coverage for the cost of your education, which includes not only your tuition fees but also living expenses and other miscellaneous expenses associated with your study abroad aspirations.
Rate of interest varies from 8% to 14% depending on profile.
Repayment period or Loan tenure is usually from 7 years to 14 years.
Yes you can apply for education loan for undergraduate programs as well and graduate/ post graduate programs as well.
Yes you can apply for loan without co-signer. But having a co-signer increases chances of your approval.
Once Lorien Finance receives all the necessary documents, our partner lenders can assess your profile within 24 hours. If your application is deemed feasible, they can provide approval within 7-10 working days.
Certainly, education loan covers both your tuition fees and living expenses.
Education loans usually cover tuition fees, living expenses, books, travel, and other education-related costs but the specificity varies from lender to lender.
With Lorien Finance, you can apply for an education loan to study in any country supported by our partner banks.
At Lorien, we offer study abroad loans to Indian students for all 195 countries of the world.
There are three main repayment options for education loans namely Full Moratorium, Direct EMI, Simple Interest/Partial Interest. The best repayment option for you will depend on your individual circumstances. If you are able to afford to make payments while you are still studying, then the direct EMI option may be the best choice for you. However, if you are struggling to make payments while you are still studying, then the full moratorium or simple interest / partial interest options may be a better choice
Certainly, education loan covers both your tuition fees and living expenses.
With this option, you do not have to make any payments during the course duration and a grace period of 6 months to 1 year after you complete your studies.
With this option, you start making EMI payments from the next month after you take disbursement.
With this option, you only have to pay the simple interest portion of your loan amount during the course duration and a grace period of 6 months to 1 year after you complete your studies.
Indeed, the Income Tax Act of 1961 permits the deduction of interest paid on an education loan under Section 80E.
Collateral requirements for education loans vary by lender. Some may require collateral, while others offer unsecured loans, typically at higher interest rates.
Yes, its possible to secure an international internship and find accommodation overseas. At Lorien, we help you in getting internship opportunities, housing options, credit/debit cards and international sim cards too.
To secure an education loan for studying abroad with low interest, you should maintain a good credit score for favorable rates.
Additionally, consider applying for a loan at Lorien as we provide loans as low as 9.5% interest rate.
Not repaying a loan can have a negative impact on your credit score, which can make it difficult to get approved for future loans and affect your overall financial history. Lorien Finance always encourages students to be financially responsible and build a good credit history.
