1. Apply online
Our application is entirely online and only takes about 30 minutes to complete.
Applicants can even save their application to complete it later. If you need to stop so you can double check your information - or for any other reason, that's absolutely not a problem.
We’ve worked hard to make the platform simple and user-friendly. Time and time again, we hear how easy the platform is for new applicants to complete.
2. Get a rate
Qualified applicants typically receive conditional approval for their loan within two business days, and the offer remains valid for two weeks.
Every loan offer is personal, taking into account your personal financial history, as well as the university, programme, and degree you hope to pursue.
And, if you have any questions before or after you receive your offer, you can reach out easily; every applicant has a team member committed to answering concerns and guiding borrowers through the process.
3. Upload supporting documents
Once you've decided to accept your offer, loans are finalised with electronic scans of the required documentation:
• Proof of identity (your passport)
• Proof of admission
• Credit report*
• Proof of address
• Proof of income
• Proof of savings (if applicable)
• Proof of scholarships or company sponsorship (if applicable)
• Financial aid form (if applicable)
* In some countries, obtaining a credit report is second-nature, but that's not a universal norm. If you're unsure of where to secure your credit report, you can check this list, broken into country bureaus.
4. Sign Loan Agreement on arrival at the school
Upon arrival at the school students, must e-sign their loan agreement so your funds can be disbursed. For legal reasons, in most cases this step can only be completed once a student arrives on campus.
You'll be busy getting organised, but it's an important step and can't be forgotten in the excitement. If students fail to complete this step the loan offer will be withdrawn.
Luckily, Prodigy Finance often has one or two staff members present on campus during this time to assist students. If you have any questions about this step, you can ask them directly.
5. Disbursement of funds
All loan funds are transferred directly to the school. You'll avoid the hassle and fees associated with currency transfers and the stress of ensuring an international wire makes it through before payment deadlines.
If there are excess funds after all tuition fees have been settled, the school will pay this sum out to your personal bank account.
If you're expecting your Prodigy Finance loan to cover part of your living expenses, you should reach out to the bursar's or financial aid office at your university as soon as possible. They'll be able to advise you regarding payment dates and processes so you're not left stranded.
That's it. But, if you have more questions, you may want to check the other FAQs. If you can't find what you're looking for, you can always reach out to us on firstname.lastname@example.org.
To receive a loan you must be admitted to a school and program that we support. Click here to explore our schools.
We provide loans to students who want to study abroad, so your chosen school must be located outside your country of residence and “home country” (if different) when you apply for a loan. There are some exceptions:
We lend to students from around 150 countries, however there are some countries, regions and U.S. states that we are unable to lend to.
We cannot to lend to residents and/or citizens of the following countries and regions:
Bonaire, Sint Eustatius and Saba
British Indian Ocean Territory
Cocos (Keeling) Islands
French Southern Territories
Korea, Democratic People's Republic Of
Papua New Guinea
Saint Helena, Ascension and Tristan da Cunha
Saint Kitts and Nevis
Saint Martin (French part)
Sao Tome and Principe
Sint Maarten (Dutch part)
South Georgia and the South Sandwich Islands
Svalbard and Jan Mayen
Taiwan, Province of China
Turks and Caicos Islands
The Crimea Region of Ukraine
United States Minor Outlying Islands
We cannot lend to residents of Belgium, Sweden, Trinidad & Tobago.
We cannot lend to residents of the U.S. states of Alabama, Alaska, Arizona, Arkansas, California, Connecticut, Delaware, Hawaii, Idaho, Indiana, Iowa, Louisiana, Maine, Massachusetts, Michigan, Minnesota, Montana, Nevada, North Dakota, Ohio, Rhode Island, South Dakota, Vermont, Washington, Washington - District of Columbia, West Virginia or Wyoming.
We currently support over 400 schools at 155 universities and are expanding all the time. Click here to see which schools we support.
After you’ve accepted your Provisional Offer you will be prompted to upload documents to support information provided in your application, this is known as a 'Task'. See below for a list of documents, to speed loan processing we suggest having these ready when you apply.
Language translation and currency conversion: We anticipate your documents will be in your local language but please note that certified English language copies will speed up the application process. In most cases our in-house servicing team will be able to translate and currency convert your documents, but in the rare instance where a translation is required, we will let you know.
Tasks requiring multi-file upload: To upload multiple files, attach them via the pop-up interface and submit all of them together. If your task locks, please email email@example.com.
Task deadlines: We understand that you may experience difficulty obtaining some documents within the desired timeframe and therefore we are able to extend the deadline if you contact us in advance. We reserve the right to withdraw your loan offer if you miss the deadline and we do not hear from you.
List of documents needed for verification:
Proof of Savings (if applicable)
Proof of Scholarships or Company Sponsorship (if applicable)
Financial Aid Form (if applicable)
Proof of Identity
Acceptable documents: Passport or Drivers’ License in a clearly readable format. A colour scan of the identification page is sufficient, we do not need to see a copy of every page. If you carry more than one passport, please ensure they are all provided.
Uploading your picture: a high-quality image clearly showing your face.
Proof of Admission
Acceptable documents: Letter or email from your school showing your full name, school, course and that you have been accepted. A screenshot or scan is acceptable in these formats: jpg, jpeg, png and pdf.
Proof of Address
Acceptable documents: Utility bill, bank statement, official government document. The document must state your name and residential address matching what you stated in your application, and be dated within the last three months.
If you’re struggling to prove your address please watch this video.
Proof of Income
Acceptable documents: Three months’ salary slips (dated within the last six months) and one corresponding bank statement (screenshots or unofficial statements will not be accepted)
If you're self-employed or can't provide salary slips, watch this video.
Proof of Savings (if applicable)
Acceptable documents: Official savings or investment account statements of the person(s) making the contribution or gift. The statement must show available funds for the amount listed in your application.
Family contribution or gift: the person(s) making the contribution will need to complete this form and upload to your dashboard in addition to providing the statements.
Pre-payments to the school: if you have already made payments to the school, these can be included as part of your Proof of Savings. Please upload transfer receipts or a paid invoice from the school with the accompanying bank statement showing the outgoing payment from your account.
Proof of Scholarship / Company Sponsorship (if applicable)
Acceptable documents: A letter on official letterhead from the source of the scholarship / sponsorship confirming the amount and that you are the recipient.
Financial Aid Form (if application)
As part of U.S. school certification (where the school confirms a borrower’s eligibility for a loan), some of the schools that we work with will require you to complete a Financial Aid Form. Please contact the Financial Aid team at your school to obtain and complete this.
The monthly due amount is the instalment which is required to be paid monthly. This is calculated based on the loan amount, remaining term of the loan and the margin and LIBOR (which is adjusted every 3 months) rates.
If you would like to create a loan application for a school that you are interested in attending but have not yet been admitted to, then you may do so, however you will be unable to get a loan until you can prove you are admitted. We do not recommend creating an application at this stage, as completing the application form can take 30 minutes. Instead, we suggest you explore the schools we support using our interactive map, use our loan calculator to see what rate and loan amount you could expect, and finally register your details on our website to ensure you're up to date with all our latest information and support.
Investing - Risk Policy
Investment is restricted to high net worth and sophisticated investors who can demonstrate that they have sufficient knowledge and experience to understand the risks of investing. Risks include the potential loss of capital and limited liquidity. Capital at risk. Investments are long term and it may not be possible to sell your investment prior to maturity. See our full Risk Warning and Terms and Conditions.
© Prodigy Finance Limited 2007 - 2019. All Rights Reserved. Prodigy Finance Limited is incorporated in the United Kingdom (Company Number 05912562) with its registered address at Palladium House 1-4 Argyll Street, London, W1F 7LD and registered with the Office of the Information Commissioner (Reg. No. Z9851854). Prodigy Finance is authorised and regulated by the Financial Conduct Authority (firm registration number 709641) for certain consumer credit activities and for investment activities for investors who have agreed to its terms. Prodigy Finance loans are offered to eligible borrowers who are studying outside of their country of residence and the loans are governed by English law.
Prodigy Services Limited is incorporated in the United Kingdom (Company Number 10201413) with its registered address at Palladium House 1-4 Argyll Street, London, W1F 7LD. Prodigy Services is an appointed representative of Sapia Partners LLP which is authorised and regulated by the Financial Conduct Authority. Prodigy Services Limited promotes offers of securities for third party issuers to eligible investors.