What you need to know for your Hong Kong University of Science and Technology - HKUST Business School 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

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

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

How much can I borrow?

  • For the MBA programme, up to 100% of cost of tuition minus deposit, minus scholarships and minus any sponsorships (as provided by the school)
  • For the EMBA programme, up to 80% of cost of tuition minus scholarships and minus sponsorships
  • Minimum loan size is $15000
  • All loans disbursed directly to the school in accordance with tuition due dates
  • Loans are available in USD

What is my rate?

  • 5.25 - 8.5% (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.

Are there fees?

  • Fee of 2.5% of the loan amount (minimum of $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 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.
  • Hong Kong citizens and permanent residents of Hong Kong are ineligible. In addition, non-permanent residents who have lived and worked in Hong Kong for 3 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 programme.

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 programme.

Loan size: $42,500.

Interest rate: 7.00% over 3-month US Libor (Libor varies over the duration of the loan. As of April 11th, 2017 it is 1.15%.)

Representative APR: 9.22% variable APR, factoring in all fees and the effects of compounding interest.

Fees: Administrative fee of 2.5%, or $1,062.5. This fee will be added to the total loan amount and fully amortized for a total credit of $43,562.5.

Duration: Repayment period of 7 years, plus the study period of 16 months and a grace period of 6 months = 106 months.

Total amount payable: $64,414.

Amount of each monthly repayment: $766.83.

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 amounts that these currency fluctuations may cause, and does not benefit from any currency appreciation or depreciation.