Prodigy Finance Education Loan
Prodigy

Get Free Education Loan Assistance From GyanDhan

Prodigy Finance Education Loan

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Interest Rate

Starting from 10.5%
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Processing Fees

5%
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Margin Money

Nil
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How it Works

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Simple FIVE step digital process to get a education loan

Check Your Loan Eligibility

Use our free tool to verify your eligibility and receive conditional loan offers.

1

Talk To Our Loan Experts

Connect with our dedicated loan counselor for a better understanding of the process.

2

Upload Documents and Fill Out the Form

Submit your documents or complete the necessary forms for bank verification and evaluation.

3

Negotiate For Your Best Loan Offer

GyanDhan expert's negotiate to secure the most competitive interest rates and the highest possible loan amount for you.

4

Get Loan Approval and Disbursement

Recieve your final approval and sanction letter, ensuring prompt fund disbursement from the lender

5
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Prodigy Finance Bank Education Loan for Abroad Studies

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All you need to know about Prodigy Finance bank education loan for studying abroad

Anam Shams
Anam Shams

Study Abroad Expert

Fact checked
Updated on:  05 Nov 2024 | 
Reviewed By:  Aman  
| 846 | 9  min read
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Overview

GyanDhan understands that the process of education loan for abroad studies can be difficult. Especially to those who don’t have any collateral or co-applicant to support their application. To help such students turn their dreams into reality, GyanDhan has partnered with Prodigy Finance.

 

Established in 2007, Prodigy Finance is a UK-based financial institution that has revolutionized the education loan process while maintaining the highest quality of service. Prodigy Finance is founded on the philosophy that funding shouldn't be a barrier to education. They have been helping students for the past 16 years, based on their academic profile, get study abroad education loan without any collateral or co-applicant. If you’re thinking of joining this cohort of international students funded by Prodigy Finance, GyanDhan is the apt place to contact.

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Key Features of Prodigy Finance Education Loan

There are more than 1051 institutes spread over 19 countries (majorly USA and Canada) that are eligible for Prodigy education loan. In the table below you can find some of the features in case you choose to take Prodigy education loan.

Feature Detail

Loan Amount

Up to 100% cost to study

Prodigy Finance Education Loan Interest Rate*

12% - 14%

Interest Rate Type

Floating

Minimum Income

Not Required

Repayment

Simple Interest only, during the course & during 6 Month grace period, EMI afterward

Prodigy Finance Processing Fees

Upto 5%, added to loan amount

Other Charges

No Charges

Margin Money

0

Loan Tenure

Up to 15 years

Processing Time

Upto 7 days

Prepayment Penalty

No Penalty

Prodigy Finance interest rate is as of March 2024.

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Eligibility Criteria for Prodigy Finance Education Loan

Below are some criteria that you need to ensure so that you can be eligible for Prodigy student loan.

  • list items You must prepare to attend school in a country other than your own.
  • list items You must plan to do a Master’s program, as Prodigy Finance does not provide loans for bachelor’s programs making it one of the most important Prodigy Finance eligibility. 
  • list items You must reside in a country that is supported under Prodigy education loan. To find out Prodigy Finance eligible countries click here!
  • list items Your University or College with the desired course of study must be on the approved list of Prodigy Finance education loans. Check Here, for Prodigy Finance University list.
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Prodigy Fall 2024 Campaign

Prodigy Finance recognizes that brilliance isn't limited to those with privileged backgrounds and abundant resources. Their "no collateral, no cosigner" solution marks a significant shift, allowing students from diverse backgrounds to access quality international education based solely on merit.

 

The Fall 2024 Campaign, aims to offer special rates (starting at 12% IRR) to select profiles, with the objective of lowering interest rates for students. Eligibility for the campaign includes a select number of strong profiles applying for their first year of study in Fall 2024. Rate reductions are available on a first-come, first-served basis, underlining Prodigy Finance's commitment to making education accessible to all, regardless of their field of study.

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Documents required for Prodigy Finance education loan

There are not many requirements for taking a Prodigy loan and thus the list of documents is also not very exhaustive. The basic documents that you will need to apply for abroad education loan from Prodigy Finance are - 

  • list items Proof of Identity: This is a copy of your valid passport in a readable format.
  • list items Proof of Address: This document should display your name and residential address, matching what you stated in your application.
  • list items Your school admission letter so that Prodigy can verify the university and the course against Prodigy University list. 
  • list items A credit report is also required.
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Courses Eligible for Prodigy Student Loan

Following are the courses that are eligible for the Prodigy education loan - 

  • list items STEM (Science, Technology, Engineering, Mathematics)
  • list items Business
  • list items Public Policy
  • list items Law
  • list items Health Sciences
  • list items Economics

Application Process of Prodigy Finance Education Loan

If you are looking to secure the Prodigy Finance education loan without collateral, you can apply online at their website. However, for a hassle-free application process, you can choose to apply for your education loan through GyanDhan.

 

GyanDhan is an online platform designed to assist Indian students in financing their education abroad with many lenders one of which is Prodigy Finance. To start your process with us all you need to do is check your loan eligibility and leave the rest to us!

 

Learn about Prodigy Finance education loan disbursement process here.

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Benefits of Prodigy Finance Education Loan

Getting Your Prodigy Finance Education Loan Through GyanDhan

  • list items Guaranteed best loan - GyanDhan aims to provide its customers with the best education loan product available in the market. However, if you find a better option, GyanDhan will pay the difference in interest rates throughout the duration of your education loan
  • list items Completely online process - Entire process of Prodigy Finance education loan is online so the borrower doesn't have to visit the company even once.
  • list items Low turnaround time - your loan will be sanctioned within 7 days after all the documents have been submitted for Prodigy Finance education loan
  • list items Assistance from GyanDhan - GyanDhan will assist you in your entire loan process of Prodigy Finance education loan without any additional cost.

Please note that Prodigy Finance will charge a prepaid fee of 50 USD once the loan has been approved. Only after the student pays this fee, a sanction letter will be issued. If an applicant decides to withdraw and submit a new application for a different school, they will need to pay the prepaid fees again for the new application. The fee already paid for the previous application will be directly refunded to the student. 

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How to Contact Prodigy Finance?

There are several ways in which you can contact Prodigy Finance India, some of them are -

  • list items Office visit
  • list items
    Address: 16-18 Beak St, Carnaby, United Kingdom (Headquarters)
  • list items
    They do not have a dedicated office here in India although they may outsource business to a third party. 
  • list items Emailing Prodigy Finance
  • list items
  • list items
    If you have any queries or need any kind of assistance from Prodigy Finance, you can always reach out to them via the email address mentioned above.
  • list items Filling out the online contact form
  • list items
  • list items
    This is an online contact form that you can find on their official website that can be filled with some basic details. Once you fill in all these details they are passed on to the customer service team of Prodigy Finance which will contact you.

 

You do not need to directly reach out to Prodigy Finance when applying for a loan. The entire loan application process is conducted online, making it convenient and flexible for you. Additionally, if you opt to work with GyanDhan, their Loan Counsellor will serve as your guide and handle all communication with Prodigy Finance on your behalf. This means that securing an education loan for studying abroad becomes hassle-free, as GyanDhan takes care of the entire process on your behalf. This streamlined approach guarantees easy access to the necessary funds, providing you with convenience and peace of mind.

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GyanDhan's Impact Stories

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Empowering students to overcome education loan obstacles

Orphanage to Opportunity: Overcoming Financial Barriers with Prodigy Finance

In the face of adversity, a determined student, who unfortunately lacked parental support and resided in an orphanage, encountered a significant obstacle in his pursuit of education. The traditional Indian lender, citing the absence of a legal guardian, declined to extend an education loan to this resilient individual. Undeterred by this setback, our collective efforts were dedicated to assisting the student in securing the necessary financial support for his academic journey. Despite the challenges posed by his personal circumstances, the student's outstanding academic achievements and a coveted admission offer from Boston University underscored his unwavering commitment to education. Recognizing the potential and merit of this exceptional candidate, we facilitated the acquisition of an education loan through Prodigy Finance, thereby opening the doors to a brighter future and empowering the student to pursue his educational aspirations at Boston University.

No-Cosigner, No-Collateral Challenge with Prodigy Finance

A determined student faced a significant hurdle in pursuing his dream of higher education – the absence of a cosigner and collateral. Traditional lenders turned down the loan application due to these constraints, jeopardizing the student's academic aspirations. In this challenging scenario, Prodigy Finance emerged as a beacon of hope. Leveraging its innovative approach to student financing, Prodigy Finance provided a tailored solution that didn't require a cosigner or collateral. This success story exemplifies Prodigy Finance's commitment to breaking down financial barriers and making quality education accessible to deserving students worldwide, irrespective of traditional lending constraints.

Prodigy Finance's No-Collateral Solution

Facing the financial challenge of pursuing a master's degree in a prestigious international university, a determined student encountered a roadblock – the absence of collateral for a traditional education loan. With Prodigy Finance's revolutionary no-collateral solution, the student found the key to unlock educational frontiers. Prodigy Finance's innovative approach, which assesses a student's potential based on their academic background and future earning capacity, made education financing accessible without the need for collateral or a cosigner.

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Frequently Asked Questions

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Does Prodigy cover living expenses?

Yes, Prodigy Finance covers both tuition fees and living expenses.

What is APR?

APR or Annual Percentage Rate is expressed as a percentage that represents the actual yearly cost of funds over the term of a loan. This encompasses any fees or additional costs associated with the loan.

What is the APR of Prodigy Finance abroad education loan?

The average APR rate for Prodigy Finance abroad education loan is 14.96%.

Is There a prepayment penalty on Prodigy Finance education loan?

No, there is no prepayment penalty levied on Prodigy Finance education loan.

Is there any margin money involved with a loan from Prodigy Finance?

No, there is no margin money when you take loan from Prodigy Finance.

What is the Repayment Tenure of Abroad Education Loan from Prodigy?

Repayment tenure of abroad education loan from Prodigy is up to 15 years.

What is Prodigy Finance education loan interest rate?

The interest rate that is offered by Prodigy Finance can range between 10.5% - 13.5%

What is the address of the Prodigy Finance Inda office?

No matter if you are in Hyderabad or Vijayawada, you can contact Prodigy Finance via info@prodigyfinance.com. Even better if you let GyanDhan take the work from you and help you out in the entire process.

Is Prodigy Finance good?

Yes, Prodigy Finance is a very reliable international lender that can provide you with education loans to different countries. All you need to do is to make sure that your targeted college and course is on the list of Prodigy Finance.

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Our Customers. Our Asset

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testimonials

Vaibhav Desai

Stevens Institute of Technology, USA

An alumnus of Stevens Institute of Technology, Vaibhav Desai was working as Data Engineer- SQL at Datavail Infotech. He later decided to pursue MS in US to open up many career opportunities. While articulating how he planned his MS in U...

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Ashish Acharya

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Ashish's life story includes working for multiple companies when he decided to pursue masters from abroad after realizing the boom in the analytics sector. He did his masters from National College of Ireland. In his story, Ashish also s...

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Yugali Gullapalli

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Ganga Barani

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Abhishek Kumar

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Pradeep Shekhar

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Hemalatha Jayakrishnan

Rochester Institute of Technology, USA

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Ashutosh Sharma

The University of Utah, USA

Discontented by his career growth, Ashutosh Sharma decided to give his career a major boost and went on to pursue MS in Business Analytics from The University of Utah. Ashustosh describes his study abroad journey and also recollects how...

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Deepa Krishnakumar

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Deepa was in the academic world working as an assistant professor when het peer group and seniors suggested her about the quality education and career opportunities of abroad education. In her story to the University of Auckland, New Ze...

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Akash Kashyap

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Akash has a deep interest in analytics and was working in Deloitte as a consultant when he decided to study abroad to beef up the career opportunities. He did MS in Business Analytics & Information Management from Purdue University. In h...

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