The ultimate guide to financing your global education
Worried about paying for a master’s abroad? This ultimate guide covers scholarships, savings, and Prodigy Finance student loans—so you can turn your study abroad dream into reality.
Dreaming of a master’s degree abroad but worried about how to pay for it? You’re not alone. For many students across Asia, LATAM, and beyond, studying overseas feels like the door to opportunity is locked behind financial barriers. The good news? Those doors are opening. With the right mix of planning, support, and financing options, your global education can be within reach.
In this guide, we’ll walk you through the best ways to pay for studying abroad—from scholarships to loans—so you can step confidently into your international journey.
Why financing international education matters
Studying abroad isn’t just about a degree—it’s about building a global career, experiencing new cultures, and expanding your horizons. But international education comes with significant costs: tuition fees, living expenses, visas, travel, and insurance. That’s why financial planning for studying abroad is essential.
If you’ve been asking yourself how to fund study abroad, here are the main paths students typically consider:
Savings and family support: Helpful but often not enough to cover full tuition and living expenses.
Scholarships for international students: Competitive and limited in number.
Part-time work: Possible in many countries, but usually capped by visa restrictions.
Student loan for overseas education: Increasingly popular, especially when local financing is not available.
Scholarships for international students
Scholarships are one of the most attractive ways to fund your studies abroad. They don’t require repayment, but they are competitive.
University scholarships: Many institutions offer merit-based or need-based aid. Always check your chosen university’s financial aid office.
Government-funded scholarships: Such as Fulbright (US), Chevening (UK), DAAD (Germany).
Private foundations and NGOs: Some target specific fields or regions.
💡 Tip: Apply broadly and early. Many students secure partial scholarships and combine them with other funding.
Global education financing options
When scholarships or savings aren’t enough, international student loan providers step in to bridge the gap. Traditional banks often require collateral or a local co-signer*, which can be a major barrier. This is where Prodigy Finance opens the doors.
No-collateral, no co-signer loans
Prodigy Finance specialises in student loans for overseas education, tailored for international master’s students. Key features include:
No collateral or co-signer required.
Accepted at 1,800+ universities across 120+ countries.
Repayments begin after your grace period (standard).
Funds are sent directly to your school, so tuition is covered seamlessly.
Co-signer option*
For eligible Indian students, there’s also a co-signer loan option with in-study payments and shorter terms. This can lower overall costs, though it requires a co-signer who is an Indian resident.
How Prodigy Finance international student loans work
Wondering how to pay tuition fees as an international student using loans? Here’s the process for Prodigy Finance loans:
Check eligibility: Use Prodigy Finance’s online tool to see if you qualify.
Get a provisional quote: See personalised loan terms without impacting your credit score.
Submit documents: Academic records, ID, admission letter, and financial details.
Receive final offer: Review the terms before accepting.
School certification: Your university confirms your enrollment.
Funds disbursed: Prodigy Finance sends the money directly to your school.
Myth-busting global education financing
There are plenty of misconceptions about student loan providers. Let’s clear a few:
“I need collateral or a co-signer.” Not with Prodigy Finance. Loans are assessed on your future earning potential.
“I’ll start paying immediately.” Repayments begin only after your grace period (up to 6 months, depending on your loan terms).
“It’s only for certain countries.” Students from 120+ countries are supported.
“It’s just loans.” Prodigy Finance also provides webinars, resources, and a global alumni network.
Best ways to pay for studying abroad
The truth is: most students use a combination of funding sources. Here’s a practical breakdown:
Comfort zone: Savings + scholarship.
Caution zone: Savings + partial scholarship + student loan.
Stretch zone: Full reliance on a student loan, possibly with part-time work.
When planning, map out your expected costs:
Tuition
Living expenses
Visa and insurance
Travel
Emergency buffer
Success stories: walking through open doors
Thousands of students from Asia and LATAM have already stepped through Prodigy’s open doors to their dream universities. From MBAs in the US to STEM programmes in Europe, their journeys show that with the right support, financing international education is possible.
Your next three steps
If you’re exploring funding higher education abroad, here’s how to move forward:
Research scholarships: Start with your university and major global programmes.
Explore international student loan providers: Understand your eligibility and options.
Check your eligibility today: Prodigy Finance makes it quick to see if you qualify for a loan.*
Co-signer loans for Indian resident students only. T&Cs apply. Loan and promotion offers are subject to our eligibility, funding, and credit assessment criteria. Loan amounts are subject to the cost of attendance limits set by schools. Representative APR 12.96% variable. APR includes interest + mandatory fees (all-inclusive rate of borrowing).
