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What you need to know for your HEC Paris loan

Key Benefits:

  • No co-signer, collateral or guarantor required
  • 150 nationalities eligible
  • Loans available for current and incoming international students
  • No up-front fee
  • 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?

  • MBA
  • EMBA
  • TRIUM (refer to the NYU info page to apply)
  • Masters in Management (see below)
  • MS/MSc Marketing
  • MSc International Finance
  • MSc Strategic Management
  • MSc Managerial and Financial Economics
  • MSc Sustainability and Social Innovation

Is your program not listed above? Let us know. We will review the program and, if possible, we will add it as well.

Refinancing of existing loans available soon! Interested? Let us know.

How much can I borrow?

  • For the MBA, up to 100% of cost of tuition minus scholarship minus sponsorship (as provided by the school).
  • For the MSc programmes, up to 100% of cost of tuition minus deposit minus scholarship minus sponsorship (as provided by the school).
  • For the EMBA, we can provide up to 80% cost of tuition minus scholarship minus sponsorship.
  • Minimum loan size is $15000 or €15000.
  • All loans disbursed directly to the school in accordance with tuition due dates.
  • Loans are available in USD and EUR. For the Masters in Management, please note that only EUR is available.

What is my rate?

  • 5.5 - 8.5% (fixed) over the 3-month US Libor or Euribor base rate (variable). Rates are dependent on individual applicant profiles.
  • See below for representative APR and representative example. Why is APR important? Details here.

Are there fees?

  • Fee of 2.5% of the loan amount (minimum of $500 or €500) is added to the loan amount and fully amortized.

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 programme 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 cannot lend to?

  • Yes, unfortunately. While Prodigy is able to lend to students from 150 nationalities, here is a list of the currently restricted nationalities.
  • French citizens and permanent residents of France are ineligible. In addition, non-permanent residents who have lived and worked in France for one or more 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 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 programme.

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

Representative Example 1

The below provides an example of a Prodigy Finance loan for the MBA programme in EUR:

Loan size: €40,000

Interest rate: 7.00% over 3-month EURIBOR (Libor varies over the duration of the loan. As of October 8, 2017 it is 0.00%)

Representative APR: 7.87% variable APR, factoring in all fees and the effects of interest.

Fees: Administrative fee of 2.5%, or €1000. This fee will be added to the total loan amount and fully amortised for a total credit of €41,000

Duration: Repayment period of 7 years, plus the study period of 12 months and a grace period of 6 months = 102 months.

Total amount payable: €56,821

Amount of each monthly repayment: €676.44

Representative Example 2

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

Loan size: $40,000

Interest rate: 7.50% over 3-month US Libor (Libor varies over the duration of the loan. As of October 8, 2017 it is 1.356%)

Representative APR: 9.54% variable APR, factoring in all fees and effects of compounding interest.

Fees: Administrative fee of 2.5%, or $1000. This fee will be added to the total loan amount and fully amortized for a total credit of $41000.

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: $ 73,169.25

Amount of each monthly repayment: $ 609.74

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.