GRE or GMAT? Choosing the right test based on loan options

When planning to pursue an MBA or a master’s degree abroad, one of the first decisions students face is: GRE or GMAT? While both tests are widely accepted for graduate school admissions, few students realise that their test choice can also impact their eligibility for certain student loans, particularly those tailored for international students.

In this guide, we’ll explore the differences between the GRE and GMAT, how they can influence your loan prospects, and how to choose the right test not just for admission but also for financing options like those offered by Prodigy Finance.

GMAT vs GRE: A quick overview

GMAT is the traditional choice for MBA programmes, while GRE offers flexibility if you're applying to a variety of graduate courses.

Do loan providers care which test you take?

Yes, and here’s why it matters.

Some international loan providers, especially those that assess career potential and the quality of your school or programme, may take your test scores into account. It’s not about a blanket preference for GMAT over GRE, but rather what the test represents:

• GMAT: Often viewed as a more focused commitment to a business career.

• GRE: Offers broader applicability but may carry less weight with certain business school lenders.

Prodigy Finance loan eligibility overview

Prodigy Finance doesn’t require a GMAT or GRE score to apply. However, being admitted to a supported university and programme is essential.

• If your programme accepts the GRE and you are admitted, your GRE is just as valid as the GMAT.

• That said, if you’re applying to a Prodigy-covered MBA programme, GMAT is more commonly associated with MBA applicants and may help signal stronger business readiness.

• For STEM or other master’s programmes, GRE is more widely accepted and appropriate.

Tip: Use Prodigy Finance’s list of eligible schools and programmes to see which test is more commonly associated with your target course.

Which test should you take based on loan considerations?

If you're pursuing an MBA

Choose GMAT if:

• You’re applying to top-tier MBA programmes

• You want to signal strong business intent

• You’re aiming to strengthen your loan and scholarship profile

Choose GRE if:

• You’re applying to flexible or dual-degree programmes

• You have stronger verbal reasoning skills

• Your preferred MBA programme accepts GRE with no stated preference2/2

If you're pursuing a STEM or other master’s degree

Choose GRE – it is widely accepted across MS, MA and PhD programmes.GMAT is unnecessary unless your programme is business-focused.

Loan options based on GRE or GMAT

With GMAT

• Eligible for most Prodigy Finance MBA loans

• May be more likely to receive higher loan amounts due to strong business-school alignment

• Can improve your chances of approval where your career path is clearly MBA-related

With GRE

• Eligible for STEM and other non-MBA programmes supported by Prodigy

• Accepted for MBA programmes as long as your chosen university/programme does

• Loan offers are typically based more on the programme tier than the test itself

Other loan factors that matter (besides test choice)

Regardless of your test, lenders like Prodigy Finance look at a broader set of factors:

Final verdict: GRE or GMAT based on loan options?

Conclusion

When weighing GRE vs GMAT, your decision should be informed not only by your academic goals but also by how you intend to finance your degree. At Prodigy Finance, the most important factor is your admission to an eligible programme, but your test choice can impact your profile strength, particularly for MBA candidates.

If you're applying for an MBA and considering a Prodigy Finance loan, the GMAT is generally the more strategic choice.

Use Prodigy Finance’s loan eligibility tool to check your target programme and start planning your study abroad journey today.

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