Visa Denied? Key Student Loan Tips for Visa Success
Every year, thousands of students dream of studying abroad, excited to embrace new cultures, gain world-class education, and build a promising future. But amidst the excitement, there’s one problem that can unexpectedly put an end to all these plans — a visa denial. What many students don’t realise is that student loan tips for visa success can make a crucial difference in securing that much-needed visa. If you’re planning your abroad education, understanding the connection between student loans and visa success is essential. Let’s break it down and help you avoid common pitfalls, so your study abroad dream stays on track. Understanding the Visa-Lending Connection When assessing your student visa application, authorities want to ensure you have the financial stability to support yourself during your studies. This is where your education loan becomes more than just a financial tool — it becomes a statement of your preparedness. A well-structured loan from a recognised lender shows that your education and living expenses are accounted for, giving visa officers confidence in your ability to fund your studies without needing to work illegally or face financial hardship. But there are key factors that can make or break this process. Student Loan Tips for Visa Success Not all education loans are created equal. Opt for a loan specifically designed for studying abroad rather than a personal loan. Education loans offer better interest rates, tailored repayment plans, and official documentation that visa authorities expect. One of the most common reasons for visa delays or denials is incomplete paperwork. When securing your loan, make sure you receive a Sanction Letter from the lender. This letter acts as official proof of funds and must be included in your visa application. Visa authorities prefer loans from reputed financial institutions. Partnering with trusted lenders gives your application more credibility. Through Lorien Finance’s network of 17+ verified lenders, students can access loans that meet these expectations. Taking a loan amount that accurately reflects your tuition fees, living expenses, and other costs is key. Over-borrowing can raise red flags, while under-borrowing can signal insufficient funds. Tools like Lorien Finance’s loan calculators can help determine the right amount. Visa officers want to know you have a plan for repaying your loan. Showcasing a structured repayment strategy demonstrates responsibility and reduces perceived risk. How Lorien Finance Helps With Student Loan Tips for Visa Success? At Lorien Finance, we understand that your education loan is more than just a means to fund your studies; it’s a stepping stone toward securing your visa and building your future. Through India’s biggest Study Abroad Loan Fest, we’re making this journey smoother and more rewarding. Here’s what students gain by choosing Lorien Finance: Securing your student visa can be overwhelming, but the right loan partner can make all the difference. By following these tips and choosing a reliable partner like Lorien Finance, you’re not just securing a loan — you’re building a strong foundation for your study abroad dreams. Ready to take the next step? Explore India’s most rewarding Study Abroad Loan Fest with Lorien Finance. FAQs Can a loan rejection affect my visa application? Yes, a rejected loan application can signal financial instability to visa officers, impacting your chances. Do visa officers prefer loans from specific lenders? Visa officers look for loans from recognised financial institutions, as they indicate credible financial backing. What if I need more funds later? Some lenders offer top-up loans. Lorien Finance helps students find flexible lenders who accommodate such needs. How do I apply for Lorien Finance’s Study Abroad Loan Fest? Visit Lorien Finance’s website, fill out the application form, and get connected with trusted lenders offering the best rates and exciting rewards.
Transparent Education Loans: No Hidden Fees, No Surprises
No hidden fees, no surprises — isn’t that what all of us dream of when applying for transparent education loans to study abroad? Unfortunately, the reality is pretty different. Complicated terms, unexpected charges, and confusing agreements can turn what seemed like a simple financial solution into a stressful experience. But does it have to be this way? Transparent education loans make sure you know exactly what you’re signing up for — with clear interest rates, straightforward repayment terms, and no unpleasant surprises along the way. Let’s dive into why transparency matters and how it can make your study abroad journey smoother. The Importance of Transparent Education Loans Transparent education loans are characterised by clear, straightforward terms that are easily understood by borrowers. This clarity is vital, especially for international students who may already be navigating unfamiliar financial landscapes. Understanding loan terms such as interest rates, repayment schedules, and any associated fees is crucial to avoid unexpected financial burdens during or after your studies. Key Elements of Transparent Education Loans The Risks of Confusing Loan Agreements Engaging with lenders who do not provide clear loan terms can lead to several challenges: How to Identify Transparent Loan Providers? To ensure you choose a transparent loan provider, consider the following steps: Lorien Finance’s Study Abroad Loan Fest: Empowering Your Educational Journey At Lorien Finance, we understand the aspirations and challenges of students aiming to study abroad. Our commitment to transparency ensures that you receive clear and comprehensive information about our loan products. This commitment is clear in our ongoing Study Abroad Loan Fest, designed to make your educational financing seamless and rewarding. Highlights of the Study Abroad Loan Fest: Securing transparent education loans is a pivotal step in your study abroad journey. It ensures that your financial foundation is solid, allowing you to focus on achieving academic excellence and embracing new experiences. At Lorien Finance, through initiatives like the Study Abroad Loan Fest, we are dedicated to providing the clarity and support you need to turn your educational dreams into reality. FAQs What are transparent education loans? Transparent education loans are those where all terms and conditions, including interest rates, fees, and repayment schedules, are clearly communicated to the borrower, eliminating hidden clauses or unexpected charges. Why is transparency important in education loans? Transparency ensures that borrowers fully understand their financial commitments, preventing unforeseen expenses and allowing for better financial planning during and after their studies. How can I ensure a loan is transparent? To ensure transparency, thoroughly read the loan agreement, ask the lender for clarification on any unclear terms, and seek advice from financial advisors or mentors. How does Lorien Finance ensure transparency in its loans? Lorien Finance provides clear and detailed information about all loan terms, offers personalised financial guidance, and maintains open communication to address any borrower queries, ensuring a transparent lending process.
The Study Abroad Loan Hack: How Smart Students Save Big
Want to unlock the ultimate study abroad loan hack and save lakhs on your education loan? Smart students know that getting the right loan isn’t just about borrowing money — it’s about borrowing smart. Don’t fall into common traps that could cost you a fortune. In this guide, we’ll reveal the top study abroad loan hacks to help you secure the best education loan, avoid hidden fees, and set yourself up for financial success. Let’s dive in! Study Abroad Loan Hack #1: Compare, Compare, Compare! (Don’t Settle for the First Offer) Many students blindly take the first loan offered by their bank — without checking if there’s a better deal out there. That’s like booking the first flight you see without checking for discounts! You could be losing lakhs just because you didn’t compare options. How Smart Students Save Big? Study Abroad Loan Hack #2: Avoid the Forex Trap (Save on Hidden Exchange Fees!) Did you know that banks secretly charge an extra 2–5% in forex markup fees every time they convert INR to USD, GBP, EUR, or AUD? Let’s put that into perspective — on a ₹40 lakh loan, that’s an extra ₹80,000 to ₹2 lakh gone — just in currency conversion fees! How Smart Students Save Big? Study Abroad Loan Hack #3: Choose the Right Repayment Plan (Avoid Getting Stuck!) Most students don’t realise that not all loans have the same repayment structure. Some force you to start paying immediately, while others offer a grace period after graduation. Choosing the wrong plan could mean struggling with EMIs while still in university. Why pay early if you don’t have to? How Smart Students Save Big? Study Abroad Loan Hack #4: Skip the Collateral Hassle (Yes, It’s Possible!) Many traditional banks force students to pledge collateral (property, fixed deposits, etc.) before approving a loan. But what if you don’t have collateral? Should your dreams be put on hold? Absolutely not! How Smart Students Save Big? Study Abroad Loan Hack #5: Act Fast — Before the Best Loan Offers Disappear! Interest rates change frequently, and the best loan offers are available for a limited time. Many students wait too long, only to find out that the low-interest rates they saw last month are no longer available. How Smart Students Save Big? How Lorien Finance Helps You Save Lakhs on Your Study Abroad Loan? At Lorien Finance, we believe your education loan should be a stepping stone, not a financial burden. That’s why we help students like you secure the best loan deals — without the stress. Why Smart Students Choose Lorien Finance? The smartest students make the smartest financial decisions. Don’t overpay — secure your best loan today! FAQs Can I switch my loan if I already applied elsewhere? Yes! If you find a better deal with Lorien Finance, we can help you switch lenders and save big! Do I need a co-signer for my education loan? Not always! Lorien Finance offers co-signer-free loan options for eligible students. How fast can I get my loan approved? Lorien Finance can help you secure loan approvals in just a few days — much faster than banks. Will I have to pay prepayment penalties? No! Lorien Finance helps you find lenders with zero foreclosure fees, so you can repay anytime. Is there a processing fee? Many banks and NBFCs charge high processing fees. With Lorien Finance, you get access to lenders with the lowest fees in the industry.
How to Get a Powerful Scholarship Recommendation Letter: A Student’s Guide
So, you’re applying for a scholarship? That’s awesome! But hold on—before you start daydreaming about your new life abroad, there’s one major thing standing between you and that scholarship: a scholarship recommendation letter. Imagine this: You’ve worked hard, maintained great grades, participated in extracurriculars, and even written a killer scholarship essay. But so have thousands of other students. So, how do you prove that you deserve that financial aid more than anyone else? The answer lies in a well-written scholarship recommendation letter—one that speaks volumes about your academic excellence, leadership skills, and future potential. A recommendation letter is not just another document in your application; it’s a game-changer. It gives the scholarship committee a third-person perspective on your achievements, making your application more credible and compelling. Think of it as a letter of endorsement from someone who truly believes in you—a professor, mentor, or employer who has seen your dedication firsthand. If the thought of asking someone to write one makes you nervous, don’t stress! This guide will show you exactly how to get a strong, impactful scholarship recommendation letter that makes the committee say, “We need to give this student a scholarship!” Why is a Recommendation Letter So Important? A scholarship recommendation letter is more than just a formality—it’s your golden ticket to standing out. While your grades and application essays show what you think about yourself, a recommendation letter tells the committee what someone else thinks about you. Think of it like this: If you were applying for a job, would you believe someone who says, “I’m amazing at this,” or someone else saying, “This person is truly amazing at this”? That’s the power of a recommendation letter—it’s a credible endorsement of your abilities, character, and potential. Who Should You Ask for a Recommendation Letter? Not just anyone! The right person makes all the difference. Here’s who you should consider: Avoid asking: distant relatives, family friends, or someone who barely knows you. Their recommendation won’t have any depth! How to Ask for a Recommendation Letter (Without Making It Awkward!) Example message: Subject: Request for Scholarship Recommendation Letter Dear [Professor/Mentor’s Name], I hope you’re doing well! I am applying for [Scholarship Name], which requires a recommendation letter, and I immediately thought of you. Your guidance in [specific subject/activity] has played a huge role in my academic journey, and I would truly appreciate it if you could write a letter supporting my application. The deadline is [date], and I’d be happy to provide any details or documents that would help. Please let me know if this would be possible! Thank you so much for your time and support. Best regards, [Your Name] What Makes a Strong Recommendation Letter? A great recommendation letter isn’t just about saying nice things—it should be specific, personalised, and aligned with the scholarship’s goals. Here’s what it should include: Scholarship Recommendation Letter Template Here’s an example of what a great letter looks like: [Recommender’s Name] [Their Position] [School/Company Name] [Email Address] [Date] To the Scholarship Committee, I am honoured to recommend [Your Name] for the [Scholarship Name]. I have had the pleasure of teaching/mentoring [Your Name] for [X years], and I can confidently say that they are one of the most [positive quality] students I have worked with. [Your Name] has consistently demonstrated [specific skills or qualities]. For example, during [mention a project or achievement], they [explain how they excelled]. Their ability to [another key strength] sets them apart from their peers. Beyond academics, [Your Name] is an active member of [mention extracurriculars, leadership roles, or community work], showcasing their well-roundedness and dedication. Their work in [specific area] directly aligns with the values and objectives of this scholarship. I strongly believe that [Your Name] will make the most of this opportunity and continue to excel in their academic and professional pursuits. Please feel free to contact me if you require further information. Sincerely, [Recommender’s Name] How Lorien Finance Can Help You Study Abroad? We get it—studying abroad is exciting but expensive. That’s where Lorien Finance comes in. We make it easier for students like you to finance their dreams with: Don’t let finances hold you back! Let Lorien Finance help you fund your global education journey. Now that you know how to get a killer scholarship recommendation letter, go ahead and secure that scholarship! And if you need financial support for your study abroad journey, Lorien Finance has got your back. Apply for your Education Loan now! FAQs Can I ask multiple people for recommendation letters? Yes! Some scholarships require more than one letter. Just make sure each recommender highlights a different strength of yours. How long should the letter be? Ideally one page, but not more than two pages. What happens if my recommender misses the deadline? Follow up before the deadline, and have a backup recommender in case they are unable to submit on time.
Tax Benefits on Abroad Education Loans for Indian Students
Synopsis: Section 80E of the Income Tax Act, 1961 gives a deduction on interest paid for education loans for higher studies in India or abroad, for up to eight years. The deduction applies only to the interest, with no cap. The loan must be from a recognized institution or approved charity, and can be claimed by the borrower or family member. This also provides significant tax benefits on abroad education loans. Pursuing higher education abroad is a dream for many Indian students. However, it comes with substantial costs that can strain family finances. Education loans often serve as a lifeline to fund tuition, accommodation, and other expenses. Did you know these loans also offer tax benefits under the Indian Income Tax Act? In this guide, we explore everything you need to know about tax benefits on education loans for Indian students planning to study abroad. What is Section 80E Income Tax Deduction? Section 80E of the Income Tax Act allows individuals to claim a deduction on the interest paid on education loans. This benefit applies to loans taken for higher education in India or abroad, making it a valuable relief for students and their families managing hefty expenses. The deduction is solely on the interest component, not the principal amount. This relief can significantly ease the financial strain, especially for families supporting students in dollar-dominated countries. Tax Exemption Limits One of the most appealing aspects of Section 80E is that there is no upper limit on the amount of interest you can claim. Whether the interest paid is INR 1 lakh or INR 10 lakh annually, you can deduct the entire amount from your taxable income. This can significantly reduce your tax burden, making it easier to manage overall expenses. Education Loans Tax Benefits Tax benefits under Section 80E apply to loans taken for higher education, including tuition fees, accommodation, and other expenses, for courses pursued in India or abroad. However, only loans from recognised financial institutions or approved charitable organisations are eligible. If you’re unsure whether your loan qualifies, check with your lender or a financial advisor. Who Can Claim Tax Benefits? The deduction can be claimed by the individual who has taken the loan and is repaying it. Typically, it is the student or their parent, spouse, or legal guardian who qualifies, provided they are the ones paying the interest. This flexibility allows multiple family members to contribute to the student’s education without missing out on tax benefits. Which Financial Institutions Offer Tax Benefits? Only loans from approved banks, financial institutions, or charitable trusts are eligible for tax deductions. Popular institutions in India like SBI, HDFC Bank, ICICI Bank, and NBFCs like Credila offer education loans that qualify under Section 80E. Ensure you check the loan terms to confirm eligibility for tax benefits. Recognised charitable trusts also provide loans, so exploring these options can broaden your financial support avenues. Period of Section 80E Deduction The tax deduction is available for a maximum of 8 consecutive years, starting from the financial year in which the loan repayment begins. If the loan tenure exceeds 8 years, deductions cannot be claimed beyond this period, even if interest payments continue. This timeline makes it essential to plan your repayment schedule strategically. Maximum Amount that can be Claimed under Section 80E Income Tax There is no maximum cap on the deduction amount. However, the benefit is limited to the interest component of the loan repayment. This makes it crucial to keep accurate records of interest payments, as these form the basis for your tax deduction claims. Mode of Deduction The deduction is applied directly to your taxable income. It reduces the taxable portion, thereby decreasing the overall tax payable. This deduction does not fall under the purview of Section 80C, so it does not affect other savings and exemptions you may claim. By separating these benefits, you can maximise your overall tax savings. When to Claim Income Tax Benefits on Education Loans under Section 80E? You can claim the deduction as soon as you begin repayment of the education loan, which usually starts after the moratorium period (6-12 months post-course completion). The deduction can only be claimed during the assessment year corresponding to the financial year of repayment. Planning early and understanding the repayment structure with your lender can help you optimise these benefits. Eligibility Criteria How to Claim Tax Benefits? To make the most of the tax benefit on your education loan under Section 80E of the Income Tax Act, 1961, here’s a simple guide to follow: Should You Repay Your Loan Early? While repaying a loan early might seem advantageous, consider the following: FAQs Is the entire loan amount eligible for tax benefits? No, only the interest paid on the loan qualifies for deductions under Section 80E. Can I claim tax benefits if I’m studying abroad? Yes, Section 80E covers loans for higher education abroad as long as it’s from an approved financial institution. Can a co-borrower claim the deduction? Yes, the co-borrower (parent, spouse, or guardian) repaying the loan can claim the benefit. What happens if I repay my loan in less than 8 years? You can claim the deduction only for the years in which repayment occurs, up to a maximum of 8 years. Are NBFC loans eligible for tax benefits? Yes, if the NBFC is recognised under Section 80E, like HDFC Credila or Auxilo. Can I claim deductions for a loan taken for a diploma course? Yes, as long as the diploma is recognised as higher education by relevant authorities. Is the moratorium period included in the 8-year deduction window? No, the deduction period begins only when you start repayment, after the moratorium. Can I claim Section 80E benefits along with Section 80C? Yes, Section 80E is separate from Section 80C, allowing you to claim both benefits simultaneously.
RBI Guidelines for Study Abroad Loans 2025
Synopsis: The report outlines the process for resolving complaints related to education loans in India, noting that if issues remain unresolved after a month, they can be escalated to the RBI’s Ombudsman. It also discusses tax deductions available under Section 80E and recommends that students check the most recent Model Education Loan Scheme and their respective bank policies, as RBI guidelines for Study Abroad. Embarking on an educational journey abroad is a dream for many Indian students. To turn this dream into reality, understanding the financial avenues available is crucial. The Reserve Bank of India (RBI) guidelines for study abroad loans streamline education loans for overseas studies, ensuring that students receive the necessary financial support under fair and transparent terms. Let’s delve into these guidelines to provide a clear roadmap for aspiring scholars. Eligibility Criteria To qualify for an education loan under RBI guidelines, students must: Loan Amount and Margin Requirements The RBI has set specific limits and margin requirements for education loans: Note: Scholarships and assistantships can be included in the margin, reducing the student’s financial burden. Security and Collateral Requirements Security requirements vary based on the loan amount: These measures ensure the loan is adequately secured, protecting both the lender and the borrower. Interest Rates The RBI guidelines for study abroad loans has deregulated interest rates on advances, including education loans. Consequently, banks determine their interest rates with the approval of their respective Board of Directors, subject to regulatory guidelines. It’s advisable for students to compare rates across banks to secure the most favourable terms. Repayment Terms Repayment terms are designed to provide flexibility: Early repayment options are often available, and some banks may offer concessions for timely repayments. Service Area Approach Banks are advised not to reject education loan applications based on the applicant’s place of residence. This ensures that students across the country have equitable access to financial assistance, regardless of their geographic location. Grievance Redressal Mechanism In case of grievances related to education loans: Tax Benefits Under Section 80E of the Income Tax Act, borrowers can avail tax deductions on the interest paid on education loans for up to 8 years. This benefit is available to both students and co-borrowers, easing the financial burden during the repayment period. Recent Updates The RBI guidelines for study abroad loans are periodically updated to reflect changing economic conditions and educational trends. As of 2025, students are advised to consult the latest Model Education Loan Scheme (MELS) and individual bank policies for the most current information. Embarking on higher education abroad is a significant milestone. Understanding the RBI’s guidelines for study abroad loans empowers students to make informed financial decisions, ensuring a smoother journey towards achieving their academic and career aspirations. FAQs Can I avail an education loan without collateral? Yes, for loan amounts up to ₹4 lakh, no collateral is required. For amounts between ₹4 lakh and ₹7.5 lakh, a third-party guarantee is needed. Loans exceeding ₹7.5 lakh require tangible collateral security. Are there any processing fees for education loans? Generally, banks do not charge processing or upfront fees for education loans. However, it’s advisable to confirm with the specific bank. What expenses are covered under the education loan? Education loans typically cover tuition fees, examination and library fees, travel expenses, purchase of books and equipment, and other related costs necessary for the course. Can I start repaying the loan while still studying? While the repayment period generally begins after the moratorium period, some banks offer the option to start interest payments during the study period, which can reduce the overall loan burden. Is there a penalty for early repayment of the education loan? Many banks do not charge a prepayment penalty for education loans, encouraging borrowers to repay earlier if possible. However, it’s essential to verify this with your chosen bank.
Documents Required for Abroad Education Loans
Synopsis: Know more about the documents required for applying for an education loan to study abroad. From basic documents like a valid passport, ID proof to academic documents like standardised test scores, and details of any scholarships to your co-applicant’s bank statements, income tax returns to additional documents for a secured education loan, here’s a detailed list of documents required. If you’re about to start your study abroad journey, we know the amount of excitement you have for the most transformative experience of your life. From the thrill of exploring new cultures to gaining a global perspective, international education provides endless opportunities. But we know the mere thought of financing your dream education abroad might pull you back. Introducing: education loans! The financial gap is no more a thing to tackle with the amazing options of financing provided by Indian and international lenders. While navigating your loan application, one daunting task that you wish you could skip is completing the documentation. Does the never-ending list of documents feel like a hurdle in your study abroad dream? Yes, we feel you! Don’t frown, rockstar! At Lorien Finance, we’re here to help you every step of the way. We’ve prepared a comprehensive guide to assist you with all the paperwork required in the process of securing an education loan for your studies abroad. From the necessary academic transcripts to the nitty-gritty financial proofs, to your cosigner’s details, we’ll bifurcate it all so you can complete your loan application confidently. Documents Required for Applying a Study Abroad Loan To secure an education loan for studying abroad seamlessly, you would require various documents to be submitted to the lenders. These documents can be categorised into various categories like academic documents, KYC documents and financial documents. Understanding the document requirements of the lenders is a crucial step for a student in their study abroad journey. Documents required from the applicant Documents required from the co-applicant Salaried Co-Applicant Self-employed Co-Applicant Additional Documents Required for a Secured Education Loan for Abroad Documents Required after Sanctioning the Study Abroad Loan To formalise the loan agreement and facilitate the disbursal of your loan, the lender provides you with some documents after your loan is sanctioned. These documents include: Documents Required for Disbursement of Study Abroad Loans After your study abroad loan has been disbursed, you will be required to share certain documents with your lender to ensure compliance with the loan agreement. These documents include: FAQs Can I apply for an education loan without a cosigner? Most lenders in India require a cosigner/co-applicant for abroad education loans, especially for higher amounts or unsecured loans. The co-applicant provides additional assurance of repayment. Can I secure an education loan if my co-applicant has a low credit score? A low credit score may affect loan approval and interest rates. It’s advisable to improve the credit score before applying or consider adding an additional co-applicant with a better credit score. At Lorien Finance, we’re here to help fund your abroad education in every way possible. Are there any tax benefits on education loan repayments? Section 80E of the Income Tax Act allows you to deduct the interest paid on education loans from taxable income, reducing your tax liability. How does the moratorium period work for education loans? The moratorium period is a grace period during which you’re not required to repay your loan, typically lasting until the completion of your course plus an additional 6-12 months. Interest may accrue during this period. Can I prepay my education loan without penalties? Many lenders allow prepayment of education loans without penalties, but it’s essential to check the specific terms and conditions of your loan agreement. Lorien Finance ensures you know all these factors while securing your abroad education loan.
Trudeau resigns as Canada PM: Impact on Indian students
Synopsis: During Trudeau’s tenure, Canada became a top destination for Indian students due to simplified visa processes, post-graduation work opportunities, and a welcoming society. However, even before Trudeau’s resignation, the Canadian government started imposing stricter regulations, including reducing international student permits, requiring higher family incomes, and limiting student work hours. With the potential change in leadership to Conservative Pierre Poilievre, Indian students are concerned about further tightening of immigration policies, increased competition for part-time and post-graduation work, and overall uncertainty about their prospects in Canada. While Canada remains a top choice, students are advised to stay updated on policy changes, explore education financing options, and consider guidance from immigration consultants. Despite the shifts, Canada’s core values of diversity and opportunities for international students are expected to continue, though the path may require more planning and effort. Indians have always considered Canada a land of dreams, offering world-class education and opportunities to shape a bright, global future. Over the years, the country has become a second home for many, thanks to the policies that helped international students to thrive. But with Justin Trudeau stepping down as Prime Minister on January 6 2025, there’s a growing sense of uncertainty: Will Canada be as welcoming for Indian students as before? Let’s dive into what this political shift means for students in Canada and those dreaming of getting there. Why Indian Students Chose Canada During Trudeau’s Era? For Indian students, Justin Trudeau’s time as PM felt like a golden age. The number of Indian students studying in Canada soared from 31,920 in 2015 to a staggering 278,250 in 2023. This was contributed by the seamless policies, including: For Indians, Canada has never been just an education destination—it was considered a land of possibilities where they could thrive and create a better future. The Shifts That Started Before Trudeau Left Even before Trudeau announced his resignation, the cracks in this perfect picture were beginning to show. In 2024, the Canadian government started imposing stricter regulations to tackle housing shortages and stretched public services. Key changes included: These changes sent shockwaves through the entire international student community. Suddenly, what seemed like a second home started looking outré. What Pierre Poilievre Could Bring to the Table? With Trudeau stepping down, Conservative leader Pierre Poilievre has emerged as a potential successor. His views on immigration have raised eyebrows, especially among international students. In a recent statement, Poilievre linked international students to Canada’s housing crisis and job market challenges, saying: “Housing is expensive, jobs are scarce, and public services are stretched thin. Adding more temporary workers and international students without addressing these issues will only make life harder for Canadians.” If Poilievre takes over Canada, here’s what might change: For Indian students, this could mean more hurdles in their race to a global future—whether they’re already in Canada or still planning their journey. How Indian Students Are Feeling Right Now? For those already in Canada, the mood is mixed. Students are concerned about the upcoming restrictions on work opportunities, which could enhance their financial hardships. Others worry that changes in post-graduation work permits could make it harder to secure a permanent residency (PR). For students back in India, the dream of studying in Canada now feels like an even distant cry. With tightened regulations and ever-increasing costs, Indians are reconsidering their options or exploring alternatives like the UK, Australia, or Germany. Tips to Navigate These Changes Change can be challenging, but preparation makes all the difference. Here are some practical steps for students: The Bigger Picture: Canada Still Values Diversity Despite political shifts, Canada stands firm on it’s core values. It’s still a country that recognises the contributions of international students—economically, academically, and culturally. Yes, policies may evolve to prioritise serious students and align with Canada’s infrastructure needs, but the essence of Canada as a land of opportunities remains. Indian students have played a huge role in shaping Canada’s present, and there’s every reason to believe they’ll continue to shape its future. Final Thoughts Political shifts are inevitable, but they’re also an opportunity to reflect, and rise above challenges. For Indians, studying in Canada may now require a bit more planning and effort, but the rewards remain worth it. So, while Trudeau’s resignation marks a turning point, it doesn’t have to be the end of your dream. With resilience and the right support, the dream of studying in Canada can still become a reality. At Lorien Finance, we’re here to support you throughout your journey. Whether it’s financing your education or navigating the uncertainties, we’re committed to helping you achieve your dreams.
CPT vs OPT: What’s the difference?
Excerpt The blog provides an overview of Curricular Practical Training (CPT) and Optional Practical Training (OPT), which are work authorization options for international students studying in the United States. It explains the key differences between CPT and OPT, including their eligibility criteria, types, and application processes. The document also covers topics such as the STEM OPT extension, Cap-Gap extension, and handling job-related scenarios while on OPT. Overall, the document aims to guide international students on navigating these work authorization options to gain relevant work experience during and after their studies. Are you planning to study in the US or have arrived in the States to pursue your higher education? Congratulations on your exciting journey ahead! However, we understand you’ve started searching for ways to gain relevant work experience while studying. Fret not, as we introduce you to the two superstars of student work authorisation – CPT and OPT. Think of CPT as your internship wingman and OPT as your career launchpad. So if you plan to know how you can gain work experience in the best possible way in the US, don’t worry, we will explain everything in a snap! Understanding CPT and OPT Curricular Practical Training (CPT) permits students enrolled in F-1 status to undertake work directly related to their curriculum, and this may include practices such as internships, cooperative education or any other practical training offered by a sponsoring employer in association with the students’ college/university. With no restriction of working 20 hours/week, students can even work full time while training. Note: In order to qualify for CPT, you must be an F-1 visa holder and have completed a full year studying at a Student and Exchange Visitor Program (SEVP) certified university. Optional Practical Training (OPT) provides international students with the opportunity to work in the US for up to 12 months. STEM graduates can avail a 24-month extension on their OPT. Note: Students at each level in their academic journey can apply for 12 months of OPT. Types of OPT Pre-completion OPT Students studying in any US institution certified by the US Immigration and Customs Enforcement (ICE) and the Student and Exchange Visitor Program (SEVP), are eligible to avail the pre-completion OPT. However, they must complete one full year studying in any institution in the US. Students authorised to avail the pre-completion OPT can work up to 20 hours a week while the school is in session or work full-time when the school is not in session. If your employer wishes to extend your employment, you will need to switch from an F-1 visa to an H-1B visa. Note: The duration availed for pre-completion OPT will be deducted from the available period of post-completion OPT. Post-completion OPT Students may choose to apply for post-completion OPT after successfully completing their program. All students are required to work for at least 20 hours a week or full-time, if authorised. Note: Students in STEM fields can apply for a 24-month extension on their post-completion OTP. STEM OPT Extension If you are studying at a US institution to secure a degree in courses like Science, Technology, Engineering, and Math (STEM), you are eligible to opt for a 24 months extension for your OPT. To avail the extension, you must fulfil the following eligibility criteria: Cap-Gap Extension A Cap-Gap extension helps you extend the tenure between the end of your F-1 visa and the start of your H-1B status. Key Differences between CPT and OPT To highlight the major difference between CPT and OPT, it’s essential for students to understand when they are eligible for either of the trainings. To put it in simple terms, CPT needs to be completed before the completion of their course, while OPT can be completed before or after their graduation. Let’s have a look at some of the other aspects to understand how CPT and OPT differ! CPT OPT Purpose To permit F-1 students to gain practical experience before graduating To permit F-1 students to gain practical experience after graduating Authorised by Requires permission from ISS (International Social Service) and the academic department Requires permission from USCIS (US government) Employment Duration Up to 12 months 12 months and can be extended up to 24 months Application Fee No application fee required An application fee of $410 should be paid to the USCIS Employment Type Part-time during school (20 hours per week) Full-time during break (40 hours per week) Full-time post graduation General Eligibility For CPT Training must relate to the student’s field of study The CPT should be authorised by the DSO in SEVIS The training should start before the end date of the program The training opportunity must be secured before authorising CPT For OPT Training must relate to the student’s field of study The student’s DSO must recommend OPT in SEVIS The student must not secure training before the DSO recommends OPT Documents Required for CPT and OPT Documents Required for CPT Documents Required for OPT CPT online workshop completion certificate 2 passport-size photographs Academic recommendation form I-765 (original) Copy of present I-20 Present passport’s copy In-depth description of training by your employer A printout of I-94 Print out of electronic form I-94 Copy of OPT recommendation and I-20 Copy of all the earlier issued I-20s Any earlier issued EAD cards’ copies F-1 visa stamp’s copy on passport How to Apply for CPT? To apply for your CPT, the steps would vary as per your university. However, some of the basic steps for the application include: Connect with the DSO at your university to know about the CPT options available at your institution, the requirements and the sponsoring employers. Secure an offer letter from your employer with all the necessary details. Ensure applying timely to the CPT program through your university with all the required documents. Once your CPT application is approved, you will have to sign a formal document with the training start and end date and safely keep a copy with you. Connect with your employer and share the relevant CPT
Rupee Weakens Past 85/USD: Impact on Indian Students Planning to Study Abroad
Dreaming of studying abroad but worried about rising costs as the rupee weakens? Discover how the depreciation past 85/USD impacts tuition, living expenses, and loan repayments—and more importantly, learn strategies to turn these challenges into opportunities. You’ve been planning to study abroad, chasing your dreams of attending a world-class university. But with the Indian rupee recently breaching the 85/USD mark, the financial path may feel more confusing than ever. For many Indian students like you, this depreciation translates to higher tuition fees, steeper living expenses and tougher financial decisions. Let’s break it down and explore how you can navigate this challenge without compromising your aspirations. Impact on Tuition Fees and Living Expenses Studying in dollar-dominated countries, like the U.S., just became more expensive. If you’re budgeting for your education, here’s what the weaker rupee means for you: Effect on Education Loans If you’re planning to fund your studies with an education loan, the rupee’s depreciation means you’ll need to consider: Challenges in Daily Expenses Daily expenses can quickly add up when studying abroad. Here’s what you might face: Potential Advantages for Overseas Earners On the brighter side, if you secure a part-time job or post-graduation employment abroad (ref CPT and OPT), you can turn the weaker rupee to your advantage: Mitigation Strategies The good news is that with the right approach, you can still manage your finances effectively. Here’s how: Leverage Lorien Finance’s USD Loans Additional Strategies: Conclusion Yes, the weakening rupee brings challenges, but it doesn’t mean you have to put your dreams on hold. With rising tuition costs, higher living expenses, and increased loan repayment amounts, planning ahead becomes crucial. However, earning in stronger currencies and leveraging solutions like Lorien Finance’s USD loans can help you manage these hurdles and stay on track. Let’s make your study abroad journey extraordinary. Talk to Lorien Finance’s loan experts today to explore options tailored to your goals. Together, we’ll turn your financial challenges into opportunities and help you achieve your dreams. FAQs How does the weaker rupee affect tuition fees? Tuition fees become more expensive in rupee terms, with a $40,000 program now costing INR 34 lakhs at 85/USD compared to INR 28 lakhs earlier. How are living expenses impacted? Costs for essentials like rent, food, and transport rise significantly as the exchange rate increases. Does the depreciation affect education loans? Yes, loan amounts and repayment costs increase, adding 3-5% annually for INR loans. Are there any benefits to earning abroad during this time? Earning in stronger currencies like USD can ease loan repayments, as higher exchange rates work in your favour. How can I manage rising expenses? Opt for USD-denominated loans, apply for scholarships, work part-time, and budget carefully to offset increased costs. Are there alternatives to studying in the US due to high costs? Countries like Canada or Germany offer quality education with comparatively lower tuition and living expenses. How can Lorien Finance help with these challenges? Lorien Finance offers USD loans, no-collateral options, and personalised financial planning to help manage study abroad expenses. What part-time work opportunities can help mitigate costs? Countries like the US allow students to work up to 20 hours weekly, providing additional financial support. Can I secure financial aid to reduce tuition costs? Yes, applying for scholarships or need-based aid can significantly lower your expenses. Is it still worth pursuing education abroad despite the weaker rupee? Yes, with proper planning, strategies like earning abroad and USD loans can make studying abroad financially viable.