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Prodigy Finance FAQ: When will I sign my loan agreement?

Prodigy Finance - October 28, 2019

Interested in a Prodigy Finance loan? Here's your chance to learn more about when you'll sign your Prodigy Finance loan agreement.

This short video provides a quick and complete explanation. Check it out now: 


Prodigy Finance: when to sign international student loan agreement


After receiving and accepting a Prodigy Finance provisional loan offer, you’ll need to upload supporting documents to backup the information provided in the initial application. Once this step is complete, your loan will be finalised and you’ll receive your Prodigy Finance loan letter which can be used to show proof of funding to your university and immigration officials. 

However, you’ll only sign your loan agreement closer to the start of your programme. There are a couple of reasons for this:

  • The policies of some schools don’t permit Prodigy Finance funds to extend beyond a certain amount (i.e. a percent of the tuition costs) and stipulate that scholarships or similar forms of support be subtracted from that amount.
  • If you secure scholarships after the finalisation of your Prodigy Finance loan, but before signing the final agreement, you’ll have a chance to reduce your loan amount in alignment with your university’s policies. (Plus, you’ll reduce your post-graduate debt burden.)

So when will you sign your loan agreement?

Once your loan has been approved, your funds have been secured for you. Your loan agreement will be available for you to sign about a month prior to the start of your classes

Depending on where you are in the world, you are able to sign from your home country, or you can sign as soon as you arrive in your new country of study. 

If you are going to a school in the US, your loan will be sent to the school for certification prior to disbursement to make sure the school is ready to receive your funds.

Want to know more about signing your Prodigy Finance loan agreement?

If you still have questions regarding your Prodigy Finance loan agreement, feel free to send us an email on info@prodigyfinance.com or check our FAQs pages to see if your question has already been answered.

Interested in a Prodigy Finance Loan?

Prodigy Finance offers no cosigner, collateral-free loans to eligible international students attending supported universities across the globe. If you're considering postgraduate study, you might want to consider a Prodigy Finance loan.

Prodigy Finance Ltd is authorised and regulated by the Financial Conduct Authority.

Post updated for accuracy and freshness on October 28, 2019. Originally published on November 14, 2018.


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