What you need to know for your Duke University - Fuqua School of Business loan

Key Benefits:

  • No co-signer, collateral or guarantor required
  • 150 nationalities eligible
  • Loans available for current and incoming international students
  • No administrative or origination fees
  • 6 month grace period after classes end for full-time programs
  • No fees for early repayment
  • Get a provisional loan decision within 5 business days

What programs are supported?

We support all full-time Masters programs that are completed within 2 years of study at Fuqua School of Business, including:

  • MBA
  • Cross Continent MBA
  • Global MBA
  • Master of Management Studies - FOB
  • Master of Management Studies - DKU
  • Master in Quanitative Management
  • Weekend Executive MBA

Is your program not listed above? Let us know. We will add it to the list.

In-year top up and bridge loans available. Refinancing of existing loans available soon! Interested? Let us know.

How much can I borrow?

  • Up to 80% of Cost of Attendance (as provided by the school)
  • Minimum loan size is $15,000
  • All loans disbursed directly to the school in accordance with tuition due dates
  • Loans are available in USD
  • If your total payments to the school exceed the amount of tuition due, the remaining amount will be disbursed directly from the school to your local bank account

What is my rate?

  • 6 - 7 % (fixed) over the 3-month US Libor base rate (variable). Rates are dependent on individual applicant profiles.
  • See below for representative APR and representative example. Why is APR important? Details here.
Product Terms Prodigy Finance MBA Loan Competitor 1
All in APR 7.99% 8.49%
Interest Rate 6.5% + 3-mo US Libor 7.24% + 3-mo US Libor
Origination Fee 0% 0%

Are there fees?

  • No administration fee.

How do I repay the loan?

  • The loan is repaid in monthly payments after your grace period has ended.
  • For full-time students the grace period is 6 months after classes end.
  • For part-time students the grace period is 3 months after the last disbursement.
  • The repayment period is either 7 or 10 years, depending on your program and application.
  • There are no fees or penalties for early repayment!
  • What are my repayment options?

Is there a deadline to apply?

  • No, but try to submit an application at least one month before the loan needs to be disbursed to your school to ensure timely disbursement.

Are there nationalities Prodigy Finance cannot lend to?

  • Yes, unfortunately. While Prodigy Finance is able to lend to students from 150 nationalities, here is a list of the currently restricted nationalities.
  • Citizens and permanent residents of the U.S.A. are ineligible. In addition, non-permanent residents who have lived and worked in the U.S.A. for 7 consecutive years prior to study are also unfortunately ineligible for funding at this time.

Learn More!

Would you like to hear from our current students who are using Prodigy Finance loans to fund their studies? There are quite a few in this video and you can get in touch with a few of them through our Ambassadors program.

Still have questions? Contact us via email or read through our Frequently Asked Questions.

Representative Example

The below provides an example of a Prodigy Finance loan for the MBA program.

Loan size: $40,000

Interest rate: 6.50% over 3-month US Libor (Libor varies over the duration of the loan. As of July 8, 2017 it is 1.304%)

Representative APR: 8.01% APR variable, factoring in all fees and the effects of interest.

Fees: No administrative fee

Duration: Repayment period of 10 years, plus the study period of 21 months and a grace period of 6 months = 147 months.

Total amount payable: $ 66,810.46

Amount of each monthly repayment: $ 557.85

Please note the following when you consider taking your loan: Loans denominated in a currency other than the currency of your tuition and/or the currency of your post-Master degree salary, may be affected by fluctuations in foreign exchange rates. Prodigy Finance is not responsible for any differences in amount that these currency fluctuations may cause, and does not benefit from any currency appreciation or depreciation.