Nomad Credit prides itself on making study abroad a pain-free process by helping international students find education loan options that best benefit them. The need for an eligible cosigner or collateral are common obstacles for these students. To combat these barriers, Nomad Credit has partnered with Prodigy Finance to help students find the best loan options for their unique needs. Don't let financing hold you back from pursuing your dreams of studying abroad. Let Nomad Credit and Prodigy Finance help you find the best loan options!
Quality Help from A Trusted Leader in the Industry
Loan Assistance Catered to Your Specific Study Abroad Journey
Straightforward Process with No Hassle
Free Assistance from Nomad Credit
Prodigy Finance Education Loan Features At a Glance
|Up to $100,000
|Interest Rate Type
|Full moratorium during course & 6 month of grace period
|Up to 5%, added to loan amount
|Up to 20 years
|Up to 7 Days
Prodigy Finance is proud to support international students from more countries than any other current lender
The full list of Prodigy Finance eligible countries can be found here.
Prodigy Finance currently supports over 800 schools globally across Business, Engineering, Law, Public Policy and Medical and are expanding all the time.
The full Prodigy Finance university list can be found here.
Starting at 11.06%
Up to 5%
added to loan amount
There are quite a few documents that are required to process your Prodigy Finance loan - some will need to be uploaded when you apply for your loan, while others may only be needed later. To ensure a speedy process, it’s best to prepare all your documents early on
You can change your loan amount after you’ve received and accepted conditional approval from us.
TThere are 3 different types of interest rates that apply to your Prodigy Finance loan. But, it’s critical that while they all apply, they’re not separate interest rates; they’re different ways of looking at your interest costs.
Students who are considering different loan options should use the APR for the purposes of comparison.
Disbursement dates of Prodigy Finance student loans vary from school to school. And, you can rest assured that Prodigy Finance is in continuous communication with every school, and we have agreements in place that allow students to defer payment until the date on which the funds are disbursed. Please note that Prodigy Finance education loans cannot be used to pay any acceptance deposits or reservation fees required to secure your place at your school.
Some schools allow funds to be used for living expenses as well as tuition fees. If your loan includes living expenses, we will send all funds to your school. Once tuition fees are paid the school will then transfer living expense funds to you directly. In this case, it is best to reach out to your school's Financial Aid Office to coordinate the times and dates.
Once you have signed your loan agreement and Prodigy Finance has released your funds, it takes between 3 to 5 business days for the funds to arrive in your school’s account.
You'll need to allow a few extra days to give your school's admin department the opportunity to allocate our payment to your student account.
You don’t need to make any repayments during the grace period (which lasts for six months after you graduate). However, there are no charges or penalties if you do decide to make early repayments or settle your loan early. Want to start repaying your loan while you’re still studying? No worries there either.
11.06% is the minimum possible Annual Percentage Rate you could be offered. This APR assumes a 4.98% fixed margin rate, a 4.89%* variable base rate (3-month CME Term SOFR as of 6 April 2023), and a 5% administration fee. The actual rate offered will depend on your circumstances, loan amount and term, and may differ from the minimum and/or the average representative APR shown in our representative example above.
The average APR for student loans is 14.96%.
To qualify, borrowers must meet Prodigy Finance eligibility and underwriting requirements. Prodigy Finance reserves the right to vary or discontinue its student loan product at any time without notice.
* Benchmark rates shown on this page are rounded to 2 decimals of a percentage for illustrative purposes. For the actual rate used, click here.