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?
- Compare interest rates from multiple lenders.
- Look for zero processing fees and no hidden charges.
- Check for flexible repayment options that suit your future earnings.
- Use Lorien Finance to access 17+ lenders in one place, ensuring you get the lowest interest rate and best loan terms — all in just a few clicks!
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?
- Choose lenders that offer direct disbursal in foreign currency — avoiding double conversion charges.
- Ask about forex markup fees before finalising your loan.
- Use Lorien Finance, which connects you with lenders that offer the lowest forex rates, saving you thousands in unnecessary charges!
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?
- Choose loans that offer a grace period so you can start repaying after getting a job.
- Look for flexible repayment plans that adjust to your earnings.
- Avoid prepayment penalties — so you can pay off your loan faster without extra costs.
- Lorien Finance connects you with lenders that offer student-friendly repayment terms, so you never feel financially stuck.
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?
- Look for lenders that offer collateral-free loans.
- If you need a co-signer, choose a lender with flexible eligibility criteria.
- Lorien Finance offers collateral-free loans at the best interest rates — so you can study without financial roadblocks.
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?
- Apply early to lock in the lowest interest rates.
- Don’t wait until the last minute — visa processes require proof of funding!
- Check your loan eligibility with Lorien Finance today and secure your loan before the rates go up.
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?
- Compare 17+ lenders on a single platform.
- Lowest interest rates starting from just 3.47%!
- No hidden fees, no surprises.
- Flexible repayment plans tailored for students.
- Fast approvals — get your loan in days, not months.
- Collateral-free loan options available!
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.
