In developing digital era like today, generation Z (Gen Z), which consists of individuals born between 1997 and 2012, is one of the groups most influenced by technology and the internet, which is advances in online financial services such as online loans. The aim of this research is to find out how much influence financial literacy, lifestyle and risk perception moderated by education have on online loan decisions among generation Z in Surabaya. The sample in this research is generation Z in Surabaya who have made online loans under the auspices of the OJK. The sample used was 110 generation Z who live in Surabaya, aged 17-26 years with a minimum of a Bachelors degree. Data collection was carried out using questionnaire instruments which were distributed with respondents. The data analysis technique in this research uses Partial Least Square (PLS). The results of this research conclude that: (1) financial literacy plays an important role in fostering online loan decisions. (2) lifestyle does not play an important role in online loan decisions. (3) risk perception plays an important role in fostering online loan decisions. (4) education strengthens the influence of financial literacy on a persons decision to take out an online loan. (5) education weakens the influence of lifestyle on a persons decision to take out an online loan. (6) education strengthens the influence of risk perception on a persons decision to take out an online loan decisions with a path coefficient of 0.221 where the p-value=0.034.