Finance your MS in Mechanical Engineering with a student loan
Apply online for an international student loan with Prodigy Finance, and fund your international MS in Mechanical Engineering programme.
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Finance your Masters in Mechanical Engineering with a student loan
A Masters in Mechanical Engineering degree is an interdisciplinary field of study that teaches students how to design or improve mechanical devices using both analysis and computer-aided design. Mechanical Engineers are instrumental in researching, designing, and building challenges across a variety of fields - from developing products such as medical devices all the way to consumer vehicles.
With Prodigy Finance, you can easily apply online for a student loan without collateral to finance your international Masters in Mechanical Engineering programme at some of the best universities and schools around the world. Our unique lending model empowers you to borrow without the need for a cosigner.
If you’re ready to finance your Masters in Mechanical Engineering at your dream university, we’re here to help.
We support applications for financing for some of the best Mechanical Engineering programmes around the world, including in countries such as the United States, Germany, Canada, the United Kingdom, and many more.
Whether you have your mind decided, or are still debating which country would be best to study an MS in Mechanical Engineering in, our unique tools and resources can help you identify the most suitably programme and loan terms for you to finance your international education.
Explore our supported schools
We support 1,700+ great schools
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Michigan Technological University
The College of Engineering at Michigan Technological University offers a renowned Mechanical Engineering programme with research focuses in advanced power systems, multi-scale materials, dynamic systems, space systems, and more.
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Alfred University
Alfred University’s Inamori School of Engineering offers a Mechanical Engineering programme with two available tracks - thesis and project, which enables graduates to pursue opportunities in research and development, product design manufacturing, and other exciting fields.
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Arizona State University
The Ira A. Fulton Schools of Engineering at Arizona State University offers a non-thesis (default) and thesis programme options with focus on top-level research and access to faculty and industry professionals from the fields of carbon fibre all the way to carbon neutrality.
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Illinois Institute of Technology
Armour College of Engineering at the Illinois Institute of Technology offers a wide range of engineering programmes, including a focus in Mechanical and Aerospace Engineering among many other exciting fields.
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New York University
New York University’s Tandon School of Engineering offers an MS in Mechanical Engineering programme that offers both hands-on computer and laboratory work in state-of-the-art facilities in fields such as national defence, aerospace, automotive, and telecommunications.
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University of Michigan
The College of Engineering at the University of Michigan provides an MS in Mechanical Engineering programme with focuses across the fields of energy, manufacturing, design, materials and solid mechanics, and many more.
Where can I study?
Where can I study my Masters in Mechanical Engineering with Prodigy Finance?
We’re proud to partner with hundreds of universities and schools worldwide - and regardless of whether you have a school in mind or would like to explore your options further, you can browse our entire catalogue of supported schools to find the right option for you.
Our application process
How does Prodigy Finance’s loan application process work?
Our application process is simple, and takes just a few minutes.
Once you’ve created your account and provided us with some basic personal information, we’ll be able to review your application and present you with a personalized and non-binding offer.
You’ll have up to 14 days to accept your quote and upload your supporting documents.
Once your documents have been reviewed and verified, you’ll be matched to funding in one of our matching rounds - after which we’ll send your loan confirmation letter, and you can then proceed to secure your international study visa. If you're attending a school in the US, your school will need to confirm your loan before we can send you your loan agreement to sign.
You’ll then sign your application agreement on reaching your country of study, and after we’ll countersign.
Your loan will be disbursed directly to your school - meaning you won’t need to worry about complex international transfers when arranging funds for your study abroad journey - and you’ll be able to begin your studies! As a full time student, you’ll only begin your repayments 6 months after your classes end.
Remember - by registering your Prodigy Finance account, you can submit as many applications as you like. If you receive conditionally approved funding from us for your second period of study, you can also submit a new application for this funding closer to your class start date of your second period!
Eligibility
Am I eligible to get an international student loan?
We’re able to finance students from 150 different countries - and regardless of which of our supported schools you intend to apply to, we can assist you with an international student loan so long as you meet some basic eligibility criteria.
Broadly, you’ll need to be seeking admission to a school and programme we support, you must be seeking to study your masters abroad, and you must not reside in a country we do not support.
Why choose us?
Why go with Prodigy Finance?
Student loans starting from 12.06% APR
Our accessible student loans give you the flexibility to manage your studies. As a full-time student, you only begin repaying your loan 6 months after your class end date.
No collateral or co-signer needed
With us, you don’t need to place a deposit nor do you need a co-signatory to secure your loan.
Get an immediate offer
Once you’ve finalised your application, we’ll present you with a customised offer in just ten minutes.
Covers cost of tuition and living expenses
Your Prodigy Finance student loan covers your course fees and if applicable, accommodation and other expenses.
Here's a representative example
Education loan amount example
Interest rate example
We use a variable simple interest rate which tracks a fluctuating benchmark rate. The interest rate includes a fixed margin tailored to your application and the benchmark rate that will change throughout the life of the loan. We use 30-Day Average SOFR as this benchmark.
Education loan repayment example
Representative
APR
13.41%
APR (Annual Percentage Rate) is a rate that shows your total cost of borrowing, including the interest rate and any fees or additional costs. When comparing education loan offers from different lenders, it’s best to use APR rather than monthly interest rate. Your monthly interest rate will always be lower than APR because it only represents part of the total cost of your loan.
Watch this video to find out moreTerms and conditions
12.06% is the minimum possible Annual Percentage Rate you could be offered. This APR assumes a 6% fixed margin rate, a 5.06%* variable base rate (30-Day Average SOFR as of 8 October 2024), and a 5% administration fee. The actual rate offered will depend on your circumstances, loan amount and term, and may differ from the minimum and/or the average representative APR shown in our representative example above.
The average APR for student loans is 13.41%.
To qualify, borrowers must meet Prodigy Finance eligibility and underwriting requirements.
Prodigy Finance reserves the right to vary or discontinue its student loan product at any time without notice.
* Benchmark rates shown on this page are rounded to 2 decimals of a percentage for illustrative purposes. For the actual rate used, click here.
Have questions? We have answers
Have queries about financing your studies, what documents you need in order to apply for a MS in Mechanical Engineering loan as an international student, or need assistance in completing your application? We’re here to help. Explore our easy-to-use FAQs, or chat to a member of our team directly from your Prodigy account dashboard.
