Lorien is a cross border fintech platform focused on providing affordable student loans and retail banking to Indian students who will pursue master's education in the US. Our vision is to become a US neobank providing affordable and better banking services to high credit quality US immigrants, regardless of nationality.
Lorien Finance offers education loans to Indian students seeking higher education in the United States. Their approach is data-driven and forward-thinking, with the goal of making education loans more accessible, viable, and affordable for students. While most banks and lenders consider collateral when approving a loan, Lorien Finance considers each student's potential and future employability when making choices.
Features Of Lorien Abroad Education Loan
| Sr. No | Features | Education Loan Details |
|---|---|---|
| 1 | Loan amount | Minimum Loan Amount - $10,000 Maximum Loan Amount - $80,000 |
| 2 | Margin money | Nil |
| 3 | Processing fee | 2.0% onwards |
| 4 | Processing time | 3 Days |
| 5 | Loan tenure | 10 Years |
| 6 | Prepayment charges | Nil |
| 7 | Repayment holiday | We give a moratorium period of 6 months post-course completion. |
| 8 | Countries covered | USA |
Benefits of Lorien Abroad Education Loan
Credit access to underserved students
Low-interest payments & fees
No collateral required
Loan sanctioned to cover 100% of expenses
Lower processing fees & faster sanction times
Benefits Of Getting Your Lorien Abroad Education Loan Through UniCreds
Higher Chance Of Approval
Online Submission Of Documents
No Cost To You
Quicker Sanctions
Calculate EMI for Education Loan
Loan Amount
Interest (p.a)
Loan Duration
Course Duration
Grace Period
Monthly EMI
Principal Amount
Total Interest
Total Amount
Loan Amortization Schedule
Following table show the year wise payment schedule.
| Month | Opening Balance (₹) | Interest Paid (₹) | Principal Repaid (₹) | Closing Balance (₹) |
|---|---|---|---|---|
Month 1 | Opening Balance (₹) | Interest Paid (₹) | Principal Repaid (₹) | Closing Balance (₹) |
Month 2 | Opening Balance (₹) | Interest Paid (₹) | Principal Repaid (₹) | Closing Balance (₹) |
Month 3 | Opening Balance (₹) | Interest Paid (₹) | Principal Repaid (₹) | Closing Balance (₹) |
Month 4 | Opening Balance (₹) | Interest Paid (₹) | Principal Repaid (₹) | Closing Balance (₹) |
Month 5 | Opening Balance (₹) | Interest Paid (₹) | Principal Repaid (₹) | Closing Balance (₹) |
Eligibility Criteria For Lorien Abroad Education Loan
When taking out student loans, there are some specific factors to consider. Finding out if a student is eligible for a loan is the first step in getting an education loan. Once students have made the decision to apply for a loan, it is crucial to understand the required criteria. The following prerequisites must be satisfied in order to be eligible for a Lorien education loan in India -
- The student must be pursuing a post-graduate programme in the United States (as per the states covered by Lorien Finance).
- The student must be a citizen of India.
- The student must be above 18 years of age.
- The student must be admitted to the approved list of programmes and universities that Lorien Finance funds in the United States.
| Sr. No | Type | Requirement |
|---|---|---|
| 1 | Eligibility Criteria | 1. Pursuing for Higher Education (Post Graduate Program) in the US as per the states covered by Lorien Finance. 2. You must be a citizen of India - 18 years or older applying to or admitted to the approved list of programs and universities that we fund in the U.S. |
Documents Required for Lorien Abroad Education Loan
| Sr. No | Type | Documents Required |
|---|---|---|
| 1 | General Documents: | 1. A complete application form. 2. Amount of loan required. 3. Passport-size photo. 4. Letter of admission from the university. 5. ID proof (PAN, Aadhar and Passport). |
| 2 | Academic Documents: | 1. Resume. 2. 12th board marksheet. 3. Bachelor's marksheets and degree certificate. 5. GRE/GMAT/TOEFL/IELTS scores. 6. Scholarship documents (if applicable). 7. Essays by the student for the application process. |
| 3 | Financial Documents: | 1. CIBIL report. 2. Last 2 years' Income Tax returns. 3. Last 3 months' salary slips or salary certificate on employer’s letterhead. 4. Last 6 months' bank statement. 5. Total investments (with proof). 6. Any other income proof that is not reflected in the above-mentioned documents. |
| 4 | Travel Documents: | 1. Visa (optional). 2. I-20 (optional). |
| 5 | Cosigner Documents | 1. ID proof (PAN, Aadhar and Passport). 2. CIBIL report. 3. Previous 3 months' salary slips or salary certificates on the employer’s letterhead. 4. Previous 2 years' form from the employer or last 2 years' Income Tax returns. 5. Any other income proof that is not reflected in the above-mentioned documents. 6. Last 6 months' bank statement. 7. Total Investments (with proof). |
Loan Repayment For Lorien
The following are some options for repaying a Lorien education loan -
- The repayment process will begin after students have completed 6 months of a course.
- The repayment period is 6 -10 years.
- There are no prepaid charges for a Lorien loan repayment.
How To Apply For Lorien Abroad Education Loan?
The process of applying for a loan could be complicated to understand when students don't have the right directions for the process. Here are the steps on how to apply for a Lorien education loan to make it easier for you -
- Contact UniCreds and inform our education loan adviser of your intent to begin the procedure or you can also apply directly online.
- UniCreds will provide you with your Lorien account login information and a link to log in to your account within 6 business hours.
- Follow the on-screen directions to fill out your personal and academic information, upload your documents and submit your application once you've logged in.
- It only takes a few minutes to validate your information and papers after you've submitted your application.
- A conditional loan confirmation message will appear on your dashboard if everything is in order. You'll also receive an email with your loan approval letter, which you can use to apply for a student visa.
- Once the loan has been approved and the online education loan agreement has been signed, the money will be sent to your university as needed.