The Prodigy Finance 'Scholarship' Programme 2018
Our scholarships are just one way that we support our community of borrowers.
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 2018 scholarship recipients
MS in Intelligent Information Systems at CMU School of Computer Science
"I want to be an entrepreneur, and the scholarship will help me in terms of achieving economic stability earlier, fast-tracking my dream."
MS in Electrical and Computer Engineering at Georgia Tech College of Engineering
“This scholarship will greatly alleviate some of my financial burden at home, and allow me to spend more time developing professional pursuits and provide for my family where I am the first generation college student.”
MBA at Chicago Booth
"I aim to help founders navigate business challenges, hence allowing them to focus on delivering value through their products… the scholarship will allow me to take more risks in my career… as well as make the impact sooner."
MS in Business Analytics at The University of Texas, Austin McCombs School of Business
"I am sure that I will make the best use of this support from Prodigy and pay it forward."
MBA at Wharton
"The scholarship allows me to participate freely in everything Wharton has to offer- from travel opportunities to stretch experiences."
