The Fintech platform, Prodigy Finance, makes it possible for international postgraduate students to obtain financing for their postgraduate studies at participating institutions. It enables participants to receive up to 80% of the costs of their education. It is currently used by over 100,000 students from over 200 countries. The platform’s user-friendly interface and flexible funding options make it easy to apply for funding.
Prodigy Finance offers flexible repayment terms from seven to 20 years. They have no prepayment penalties or application fees and no late fees, although they do charge a 5% origination fee at the time of loan disbursement. In addition to its flexible repayment terms, Prodigy Finance offers a one-on-one chat feature and Q&A webinars twice a week to answer your questions and address any issues you may have.
Prodigy Finance allows you to apply for multiple programmes and universities, and you can receive your final loan documents via e-signature once you arrive at your university. Once approved, Prodigy Finance disburses the money directly to your chosen school. The funds left over after disbursement are between you and the university, and you may not have to pay them back until six months after graduation. This is a great option for students pursuing a postgraduate education.
The company also offers variable-rate student loans to international students. The loans are available in more than 150 countries, so if you want to study abroad, you can take advantage of the variable rate options. And unlike traditional student loans, you won’t need a co-signer or collateral. And if you’re studying abroad, you can take advantage of Prodigy’s low administrative fee.
The interest rate on the Prodigy Finance loan starts at 6.70% APR as of Oct. 18, 2021. Moreover, there’s no credit check. You can start making payments right away, or defer payments until you graduate. In case of financial hardship, borrowers can also request for a forbearance period. Moreover, they don’t charge any late fees or prepayment penalties.
Students can obtain loans from Prodigy Finance after completing the application process online. Once the loan has been disbursed, Prodigy Finance will coordinate with the school to make sure that the student doesn’t have to worry about meeting tuition deadlines. This helps them focus on their studies. After receiving their loans, Prodigy Finance will contact them to answer their queries.
The loan amounts offered by Prodigy Finance are linked to the programme and university that the student has applied to. They are also linked to pre-study salaries. However, these are not the only factors that will determine the loan amount. The loan amounts are higher than what local banks offer. You can also choose from fixed or variable-rate loans.
International students can also avail of student loans through Prodigy. The company also offers refinancing options for graduate students from the United States or United Kingdom. However, you should bear in mind that the interest rate charged by Prodigy can change from time to time. In such a case, you may have to pay moderately high fees. However, if your financial situation permits it, this loan may be worth considering.