What you need to know for your University of Strathclyde - 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?

We support the following courses at the Strathclyde Business School:

  • MBA

What is the maximum loan size I may request?

  • Up to 100% of Cost of tuition minus deposit, minus any scholarships and/or sponsorships. Loans can only be used to cover tuition (as provided by the school)
  • Minimum loan size is GBP 10,000 / USD 15,000
  • All loans disbursed directly to the school in accordance with tuition due dates
  • Loans are available in GBP and USD
  • Your total payments to the school should not exceed the amount of tuition due.

What is my rate?

  • 5.5 - 8.5% (fixed) over the 3-month GBP LIBOR / 3-Month USD 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?

We like to keep things simple and transparent. For most loans we charge an administrative fee, which is added to the total amount and is repayable over the lifetime of the loan. We don’t require fees to be paid upfront. Get a commitment-free quote to see if fees apply.

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 7,10 or 15 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.

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.

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.

 

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