What are the loan repayment options and consequences if a student visa application is rejected after taking out an education loan?
The first thing you should always do is contact your loan provider immediately. Explain your situation clearly. Tell them your visa application was rejected and that you’re unable to pursue your studies as planned. Ask them about their policies for situations like this.
Some lenders may offer options like restructuring the loan with a revised repayment schedule or a temporary moratorium where you don’t have to make payments for a while.