What you need to know for your University of Toronto - Faculty of Law 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 all full-time Masters programs that are completed within 2 years of study at School of Law, including:

  • LLM

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

How much can I borrow?

  • 100% Cost of tuition minus scholarships minus sponsorship. Loans can only be used to cover tuition. (as approved by the university)
  • Minimum loan size is $15,000
  • All loans disbursed directly to the school in accordance with tuition due dates
  • Loans are available in USD Your total payments to the school should not exceed the amount of tuition due.

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 or 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 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 Canada are ineligible. In addition, non-permanent residents who have lived and worked in Canada for 7 consecutive years prior to study are also unfortunately ineligible for funding at this time.

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

What is my rate?

  • To find out what rate you could qualify for, apply for a quote using our online application form.
 

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