Why these students chose Prodigy Finance for their international student loan

Why international grad students choose Prodigy Finance

International grad students have traditionally faced difficulties in obtaining study loans. The reasons vary from student to student and country to county. Here are just a few.

1. Sufficient loans aren’t always available elsewhere

It was almost as if banks couldn’t understand the value of an international graduate education. The most they were able to offer was 10% of her cost of attendance.

And, it’s not as if the lack of educational financing is limited to emerging economies and developing countries. Maria Springer is an American who attained her MBA at Oxford University’s Saïd Business School. Despite a culture of governmental educational loans in the US – even for students pursuing their studies abroad – she was unable to secure the amounts required. And, one potential, reputable lender didn’t have Oxford in its list of known institutions. She, like Moreblessings and Maria Muller, received Prodigy Finance loans.

2. Other providers have prohibitive loan arrangements

Even with collateral worth three times more than the loan itself, most banks still declined her loans. 

Also from India, Sandeep Sharma was willing to accept the prohibitively high loan arrangements from a local bank – if they could have met the minimum he needed to pursue his MBA at INSEAD in France.

Some of these students – like 83% of Prodigy Finance-funded students have (or had) no alternative source of educational financing.

Students choose Prodigy Finance loans – even when they have other options

If 83% of Prodigy Finance-funded students have no alternative source of funding, it stands to reason that 17% do have other options. 

So why do they choose Prodigy Finance loans over their other options?

He believes LIBOR tends to be more stable in the long-term and he’ll pay less interest on his loan over the course of repayment.

Some students that fall into our 17%, accept both Prodigy Finance loans as well as other financing. 

Bethany Thomaier, an American pursuing her MBA at Cambridge Judge, has both Prodigy and US federal student loans. However, she accepted the maximum amount available through Prodigy Finance. Her reasons are multi-fold citing both the advantageous interest rate and the ability to balance her currency risk, as she wasn’t sure where she would be working post-MBA.

Whether they had access to other funding or not, many MBAs choose to work with Prodigy Finance for diverse reasons - often considering efficiency and accessibility (even when you can’t rule out interest rates).