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What you need to know for your Lisbon MBA loan

Key Benefits:

  • No co-signer, collateral or guarantor required
  • 150 nationalities eligible
  • Loans available for 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 review the program and, if possible, we will add it as well.

How much can I borrow?

  • Up to 100% of Cost of tuition minus the deposit, minus scholarships and minus sponsorship for full-time programs. Loans can only be used to cover tuition. (as provided by the school)
  • Minimum loan size is EUR15,000
  • All loans are disbursed directly to the school in accordance with tuition due dates;
  • Loans are available in EUR

What is my rate?

  • 5.50% - 8.5% (fixed) over the 3-month 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 EUR500) 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.
  • The repayment period is either 7 or 10 years, depending on your 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.
  • Citizens and permanent residents of Portugal are ineligible. In addition, non-permanent residents who have lived and worked in Portugal 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 #N/A.

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

Representative Example

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

Loan size: €25,000

Interest rate: 7.50% over 3-month EURIBOR (Libor varies over the duration of the loan. As of October 8, 2017 it is 0.00%)

Representative APR: 8.40% variable APR, factoring in all fees and the effects of interest.

Fees: Administrative fee of 2.5%, or €625. This fee will be added to the total loan amount and fully amortised for a total credit of €25,625

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: €36,310

Amount of each monthly repayment: €432.27

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.