| Interest Rate | Moratorium Period | Margin Money |
| 8.33% APR onwards | Course years + 6 – 12 months | 0% |
Table of Contents
- Prodigy Finance Education Loans: Highlights
- Prodigy Finance Education Loan Eligibility Requirements
- Documents Required for Prodigy Finance Education Loans
- Universities Funded by Prodigy Finance Education Loan
- Courses Funded by Prodigy Finance Education Loan
- How to Secure a Prodigy Finance Education Loan?
- Frequently Asked Questions
In recent years, there has been an “unprecedented” 40%-60 % rise in educational fees in universities abroad. This spike creates a situation where education loans play the trump card, especially for students from developing countries.
To those looking for education loans, Prodigy Finance has been an important player in the study abroad financing market for years. Prodigy education loans cover universities across the globe for STEM, MBA, and other courses.
Prodigy loans are hassle-free and have a quick process compared to other prominent education loan options. Cherish the dream of studying in your planned university abroad – let’s explore Prodigy Finance education loan details to fund your education.
Prodigy Finance Education Loans: Highlights
Prodigy Finance has two loan options for international students – an education loan without collateral or cosigner for global students and an education loan with a cosigner, exclusive for Indian students. The education loan can fund up to 100% of your education costs at an interest rate starting at 8.33%. Prodigy Finance education loan repayment options are flexible and convenient for students.
| Maximum Loan Amount | Up to 2,20,000 USD or 100% of your expenses |
| Interest Rates | 8.33% APR onwards |
| Margin Money | 0% |
| Processing Fee | 4% – 5% of the loan amount |
| Moratorium Period | Course years + 6 – 12 months |
| Repayment Period | Up to 15 years |
Prodigy Finance Education Loan Eligibility Requirements
Prodigy Finance education loan eligibility revolves around two factors – your university and course of admission. If your university or course is not listed by Prodigy Finance, you can apply for financing support at your university. The programs supported by Prodigy Finance differ to each university.
- Be at least 18 years of age at the time of application
- Get admission to a Prodigy-listed university
- Have a high CIBIL score (750 – 900)
- Choose a postgraduate program (mainly MBA or STEM courses)
Documents Required for Prodigy Finance Education Loans
Prodigy Finance education loan documents are required to verify your application and creditworthiness. The primary academic criteria include your admission to a university funded by Prodigy. Your financial information is crucial, which proves your creditworthiness for an education loan for your higher studies.
| Passport copy | Proof of address |
| Proof of admission | Your credit report |
| Proof of savings/ family contribution to your education (if any) | Pre-study employment letter (if applicable) |
| Post-study employment salary slips | Scholarship/ sponsorship details (if available) |
Universities Funded by Prodigy Finance Education Loan
Prodigy Finance offers postgraduate education loans to international students for education at more than 480 universities in 19 countries. These loans are in many fields, such as Business, Engineering, Law, Public Policy, and Medical Sciences.
Click here to search your university options.
If your preferred institution is not yet covered, Prodigy Finance has an option for requesting the addition of new schools via their request form.
| Note: Always check Prodigy Finance’s official sources or communicate with them for updated information on universities or courses funded. |
Courses Funded by Prodigy Finance Education Loan
As mentioned, the courses funded by Prodigy Finance differ at each university. They have provided an elaborate list of courses funded at each university on their website. Generally, we can see Prodigy Finance education loans fund top master’s courses like MBA, MS, Law, etc.
Top courses funded by Prodigy Finance education loan:
- Business Administration (e.g., MBA)
- Engineering
- Law
- Public Policy
- Medical Sciences
- Computer Science
- Data Analytics
- Operations Management
How to Secure a Prodigy Finance Education Loan?
You can apply for a Prodigy Finance education loan online in the comfort of your home. The process is online and hassle-free with minimal and fast documentation. Here are the step-by-step guidelines to apply for a Prodigy education loan:
- Check the list of universities and courses funded by Prodigy Finance
- Choose a course option listed by Prodigy
- Visit the official website and sign in
- Click on “Apply” and start the application process
- Upload the documents
- Wait for approval
- Get the sanction letter
- Receive loan disbursement
In short, an education loan from Prodigy Finance can transform your study abroad goals. Check your education loan eligibility and apply for a Prodigy education loan with Nomad Credit’s guidance. With us, enjoy a hassle-free loan process for free, tailored to your study abroad goals.
Frequently Asked Questions
Is a Prodigy Finance education loan available to all universities globally?
Prodigy Finance education loans are provided to universities across the globe. However, not all universities around the globe are eligible for Prodigy loans. Prodigy has a list of eligible universities created based on the university rankings.
Is a Prodigy Finance education loan available for all courses?
Prodigy Finance education loans are available for a variety of postgraduate courses like MS, MBA, law, etc. The courses eligible are different to different universities.
Can you request that your university of admission be added to the Prodigy loan eligibility list?
If your university is not listed by Prodigy Finance, you can request to add it. Your request being approved is entirely up to Prodigy’s decision.
How to get a loan from Prodigy Finance?
Get admission to a university listed by Prodigy Finance and choose a funded course. Gather the documents required and apply online.
How long does it take for Prodigy to approve a loan?
Prodigy Finance takes around 7 business days to process your education loan application. You will hear back within the time, either a loan sanction or rejection.
