Prodigy Finance Education Loan
Pursue your global education with Prodigy Finance’s collateral-free and no-coapplicant loans, covering 100% of costs with APRs starting at ~8%.
Overview
Prodigy Finance is a UK-based international student loan provider that helps students from over 150 countries fund their higher education abroad — without requiring a co-signer, collateral, or credit history in the destination country. Founded in 2007, Prodigy Finance has supported over 30,000 students globally by partnering with top universities and programs in the USA, Canada, UK, Germany, France and beyond.
Key Features & Benefits
- ✔ No Collateral or Co-signer Required: Apply independently without needing security or a guarantor.
- ✔ Full Cost Coverage: Loans can cover tuition, living expenses, and other education-related costs.
- ✔ Deferred Repayment: No payments required during the study period and a 6-month grace period after graduation.
- ✔ Top University Coverage: Loans available for 1000+ programs at globally recognized institutions.
- ✔ 100% Online Process: Simple digital application with fast approvals and document uploads.
- ✔ No Local Credit History Needed: Approval is based on your future earning potential, not credit score.
- ✔ No Prepayment Charges: Repay early anytime without penalty or extra fees.
- ✔ Transparent Interest Rates: Competitive variable interest rates based on your profile and university.
- ✔ Multi-Currency Repayment: Repay in USD, GBP, EUR, or other major currencies as per your location.
Eligibility Criteria
Student:
- Enrollment in Supported Program: Admitted to a postgraduate program at one of 1,700+ supported schools in 19 countries (e.g., USA, UK, Canada).
- Age Requirement: Be 18 years or older at the time of application.
- Supported Country of Residence: Reside in one of 150+ supported countries.
- No Collateral or Co-Signer: Collateral-free loans; co-signer optional for Indian students (co-signer requires strong credit/income).
- Study Abroad Requirement: Study in a country different from your home country. US/UK residents may qualify for domestic programs.
Documents Required
Student:
- Passport.
- Admission letter from supported school.
- Academic records (degree, transcripts).
- Cost of attendance breakdown (tuition, living).
- Proof of funds (if partially funded).
Other:
- Prodigy Finance loan application form.
- Credit report or income proof (if required).
- Bank details for disbursal.
Interest Rates & Charges
Prodigy Finance offers variable APRs with no prepayment penalties after 6 months and a digital application process.
| Loan Type | APR (p.a.)* | Admin Fee | Collateral/Cosigner |
|---|---|---|---|
| Abroad (Master’s, up to 100% cost) | Starting from 8.30% | 4%-5% Admin Fee added in Loan Amount + $500 Processing Fee | Not required |
*APRs are variable, based on creditworthiness, course, and school.
Application Process
- Submit Inquiry: Fill out our quick online form.
- Expert Guidance: Connect with our loan advisor for Prodigy Finance options.
- Document Prep: Gather documents with our assistance.
- Disbursal: Funds released to university or account within 7–10 days.