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Prodigy Finance benefits for international masters programmes

Prodigy Finance - May 02, 2018

Prodigy Finance benefits for masters programmes loans

Prodigy Finance may be an international student loan provider, but we’re definitely not like the traditional lenders you may have worked with in the past.

We offer benefits to our borrowers that you’re not going to find anywhere else - and we keep community at our core. From application to graduation (and beyond), take a look at what makes Prodigy Finance and its loans unique

Prodigy Finance international student loans for masters programmes

A forward-looking model for larger loan amounts

Unlike traditional lenders, Prodigy Finance doesn’t look only at your financial history. We do that, of course; but, more importantly, we consider the impact your master’s degree will have on your future earnings. Our proprietary-risk model accounts for the larger salary you’ll earn after your degree.

What does this mean for you?

For many borrowers, this means they qualify for larger loan amounts than they would if only historic data is used. 

No cosigner loans - You will never be asked for a co-signer, nor will anyone else be contacted if there are problems with your loan. 

No collateral loans - There’s no need to come up with your property or anyone else’s, as per global student loan norms.

Swift, fully-online process - The application process takes less than 30 minutes and can be completed anywhere with a reliable internet connection. 

You’ll know within a week whether you qualify - and the amount of your provisional loan offer. 

If you wish to accept, confirmation documents are uploaded to your personal dashboard; no need to post originals.

Prodigy Finance masters programmes video benefits

Prodigy Finance interest rates, fees, disbursal and repayments

Prodigy Finance international student loans are a financial product and you need to take time to understand the conditions and responsibility of your loan. 

Prodigy Finance fees and interest rates

Prodigy Finance uses variable interest rates. As with all variable interest rates, our are comprised of two parts:

  • A base rate (variable), and
  • Your fixed rate margin (determined by your personal financial situation)

There are several base rate options, such as Prime, MCLR, and LIBOR. We use LIBOR because it is independently determined and transparently reported.

While the base rate changes according to market conditions, your fixed margin does not and Prodigy Finance will not adjust this at a later point.

As long as your account remains in good standing (for example, you haven’t missed a payment), the only fee Prodigy Finance charges is the 2.5% admin fee. You won’t be charged handling, Forex, sanction letter fees, or life insurance. The only fee is the 2.5% admin fee.

Your interest rate plus the admin fee combined is the APR (annual percentage rate) on your Prodigy Finance loan. 

APR is legally mandated in countries like the US and UK as it provides a complete picture of the cost of your loan.

Loans in USD, EUR and GBP - Prodigy Finance provides loans in USD, EUR and GBP depending on the country of study. Some schools may allow for a choice of currency

Funds disbursed directly to the school - You won’t be responsible for sending money to your university or worrying about the Forex fees for doing so; Prodigy Finance disburses loans directly to the universities

And, if your loan includes money for living expenses, the school will forward this on to you. 

No penalty for early repayment - Want to save on the interest you pay over the life of your loan? Pay it off early. And don’t worry, there’s never a penalty for doing so. 

Credit reporting - Hoping to develop a credit history in your host country? Prodigy Finance has begun reporting to credit bureaus and will continue to add more to the list over the coming years. 

As long as you continue to make at least the minimum payments on time, your Prodigy Finance loan will positively impact your future credit options.

APR Explained Screen

Prodigy Finance pre-study benefits

With a Prodigy Finance international study loan, you can reduce the size of your loan - even after it’s been approved until you arrive in your host country

We know you’ll be trying to get as many scholarships and fellowships as possible to alleviate the cost of your education.

And, we want you to do just that, all while knowing your finances are sorted - just in case.

Prodigy Finance loan letter - We provide our borrowers with a loan letter (known as a sanction letter in some countries) as proof of finances for visa processing

Soft copies are free of charge and are available as soon as your loan is approved. 

Visa guides - We’ve got guides to help you through the process of securing international study visas.

Prodigy Finance on-campus support

Prodigy Finance keeps community at its heart. Loans are community-funded so students can create additional communities and networks through their studies. We assist by driving events and communications between everyone in the Prodigy Finance community, from investors to borrowers.

You’ll even find Prodigy Finance team members assisting its ambassadors at your school throughout the year, helping you to succeed. If you ever have a question about your Prodigy Finance loan or benefits; you'll know someone is there to help. 

And speaking of benefits… did you know Prodigy Finance offers its borrowers housing discounts in Europe and phone discounts in the United States? Learn more about the benefits you’ll qualify for with an international student loan for Prodigy Finance masters programmes.

Prodigy Finance post-graduation assistance

Your success is critical to Prodigy FinanceAnd what you do after your degree is even more important than the effort you put into your studies (and the strenuous application process that got you there in the first place). 

Career services

You get access to exclusive online workshops, plus discounts for individual coaching sessions with a premier career strategy and intelligence firm.

Prodigy Finance borrowers receive an exclusive online careers course that you can access at any time.

Networking and events

Join our Prodigy Finance Community group on LinkedIn and search for other members of the community to expand your opportunities.

And, of course, you’ll be invited to networking events exclusively for Prodigy Finance community members whenever we’re in town.

Ready to pursue one your your dream masters programmes?

Prodigy Finance provides student loans for top international masters programmes in And, we offer far more than just financing. 

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