Every year we award ten scholarships to our students and this year we’re also introducing an additional scholarship to honour a growing community of women engineers.

General 'Scholarship' Programme

Ten US$10,000 scholarships, in the form of debt write-offs, to help fund your postgraduate degree.*

Women in Tech 'Scholarship'

One US$10,000 scholarship, in the form of a debt write-off, to help fund your engineering degree.*

Steps to be considered for our scholarships

Step 1

Apply for a scholarship

Once you’ve applied for your Prodigy Finance loan and it’s been approved, we’ll send you access to the application page where you’ll have the opportunity to apply for one of our scholarships.*

Step 2

Submit your scholarship application

You’ll complete an online form where you’ll answer a few questions and write a motivational paragraph outlining why you deserve a scholarship.*

Step 3

Wait for recipients to be announced

Recipients will be selected on 30th April and 30th October 2018, please see the details for each scholarship below.

What you need to know

Who is eligible for a scholarship?

Prodigy Finance borrowers who have reached a ‘loan approved’ status are eligible to apply for a scholarship. Scholarship applicants must be accepted into a school or university in the US, UK, Spain or France to be eligible.

How many scholarships are there?

There are 10 scholarships available as part of the Prodigy Finance 'Scholarship' Programme, valued at US$10,000 each. 

There is an 11th scholarship valued at US$10,000 for a female engineer.

What are the judging criteria for the scholarships?

  • Merit-based criteria: Measured by your GMAT, GRE, LSAT or EA score, whichever is applicable.
  • Need-based criteria: Measured by your declared pre-study salary, and advance rate.
  • Skills based objective criteria: Provision of correct answers to questions about financial literacy and loan terms.
  • Subjective criteria: Your motivational paragraph, reviewed by our panel of judges should the first three criteria be met successfully. The motivation will need to demonstrate substantive reasoning for you to receive a scholarship and how the scholarship will impact on your postgraduate experience.

How can I increase my chances of receiving a scholarship?

A high test score (GMAT, GRE, LSAT or EA, whichever is applicable) will improve your chances of a successful application. A substantive and well-articulated motivational paragraph will also benefit your application. Only one application per borrower will be accepted and will be eligible for entry for both announcement dates.

When are the recipients notified?

5 recipients will be chosen on 30 April 2018, and 5 recipients will be chosen on 30 October, 2018. The Women in Tech scholarship recipient will also be chosen on 30 October, 2018.

The recipients will be notified within 14 days after the assessment dates on 30 April and 30 October 2018.

When is the deadline to apply?

Applications will close on 26 October 2018. If you applied before April, but didn’t receive one of the scholarships on 30 April, you do not need to apply again to be considered for the scholarships announced in October.

When and how do the recipients receive the scholarship funds?

Once the recipients have been notified, documentation will need to be completed confirming official acceptance of the scholarship. Once we’ve received the documentation, the recipient’s Prodigy Finance loan account will be credited with US$10,000 within 30 days.

What is the Women in Tech Scholarship?

The Women in Tech Scholarship is an 11th US$10,000 scholarship that will be awarded to a female engineering student, evaluated according to the same criteria as the Prodigy Finance 'Scholarship' Programme (see details above).

How do I apply for the Women in Tech Scholarship?

If you are a female borrower, admitted for an engineering programme you'll automatically be considered for both scholarships, but cannot receive both scholarships. There are no additional entry requirements over and above the entry process for the Prodigy Finance 'Scholarship' Programme.

Meet our 2017 scholarship recipients

Meet Jonathan, from the Philippines

Jonathan is pursuing his MBA at the Wharton School of Business.

"Prodigy Finance has made it so much easier to obtain financing for my MBA, especially as an international student with limited access to loans in the US. With the scholarship, the financial burden on me and my family has been significantly reduced."

Jonathan Scholarship 2017

Meet Marina, from Russia

Marina began her studies at the University of Chicago Booth School of Business in 2017.

"The scholarship will reduce the pressure around graduating with the debt and it will indeed accelerate the time that will be required for me to move towards my goal - establishing my own Impact Investments business."

Marina Scholarship 2017

Meet Vishal, from India

Vishal is pursuing a Master of Information Systems Management at Carnegie Mellon University.

"My dream of coming to the United States and enrolling in one of the best schools wouldn't have been possible without Prodigy Finance. They took care of the entire process - making timely payments-taking a huge burden off my shoulders. With this generous scholarship, a bit of that load is reduced. With this I could peacefully concentrate on my studies and my job search".

Vishal Scholarship 2017
Read our latest 'Scholarship' Programme news