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 400 schools at 155 universities and are expanding all the time. Select your Program from the links below to browse a full list of universities. Alternatively, if you are not admitted to a school yet, click here to search by region using our interactive map.
Many of the schools that we work with will require you that you have a test score to be admitted. The most common tests are GMAT, GRE or specific school admission test. Please enter this score in your application and clarify which test your score is for, in the 'Additional Information' field at the end of the application.
You’ve been accepted into grad school – congratulations! Now it’s time to secure your funding.
Creating an Application: Check that we support your school, then register, start and submit your application, all through our online platform.
Application Review & Provisional Offer: If your application is successful we’ll review and respond with a Provisional Offer instantly, though this can take up to 5 days. To understand how we make our credit decisions, click here.
Verification: Next we need to verify the information you provided in your application; to do this we will request that you upload supporting documents.
Loan Approved: Congratulations! After successful verification you will receive a Loan Agreement Letter. You may use this document as proof of funds in your visa application.
Signing your Loan Agreement: We will contact you once you arrive in your country of study to e-sign your agreement. It will be counter-signed by Prodigy Finance, making the agreement binding on both parties.
Disbursing funds: We will disburse the funds directly to your school, removing all hassle so you can focus on getting to campus.
Study and Grace Period:
• Full time students: repayment begins 6 months from class end date
• Part time students: repayment begins 3 months from final disbursement date
Loan Repayment: Your loan agreement will state the date that your first repayment is due, and you will receive monthly statements with the exact repayment amount due. For more information on loan repayment click here.
Click Apply Now to register, authenticate your email address, and login to begin your application. The application form has 8 stages and will take around 30 minutes to complete:
Can you view a summary of your application and when you’re ready, hit ‘Submit’!
If your program is made up of multiple academic periods, then you will need to create a new application for each academic period. In the U.S. this is because your school may need to certify each period, and as a responsible lender we will need to assess your affordability before each new period.
Your application details will be saved, but you will need to review that all details are still correct. In particular the budget section: ensure that you are careful about taking on additional debt, keep your credit profile in good order and ensure you have proof of any non-debt funds allocated to future academic periods. Your Cost of Attendance may have changed at the school's discretion.
We may 'pre-approve' a loan amount for a future period. If you wish to apply for a higher amount then watch this video:
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 firstname.lastname@example.org.
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
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
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
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
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)
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)
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.
Even if you have never taken out credit before, it’s important to provide us with a credit report. The process for obtaining a credit report differs in each country, we have listed some links below to help you. Some of these options may no longer be available, in which case please visit your bank for guidance or email us at email@example.com for support.
Armenia - http://www.acra.am
Azerbaijan - Centralized Credit Registry Service Of Central Bank Of The Republic Of Azerbaijan. Please contact your local bank for instructions on how to obtain this document.
Bahrain - https://www.benefit.bh
Bangladesh - http://www.bangladesh-bank.org
Belgium - http://www.nbb.be
Brazil - http://www.serasaconsumidor.com.br/ (select the option "Serasa AntiFraude")
Bulgaria - Central Credit Register of the Bulgarian National Bank
Chile - http://www.dicom.cl
China - People's Bank of China (ID card required)
Costa Rica - http://www.equifax.com
Czech Republic - Czech Banking Credit Bureau OR CreditInfo Czech Republic
Denmark - http://www.experian.dk
Dominican Republic - Transunion OR DataCredito
Ecuador - http://www.equifax.com
Egypt - Egyptian Credit Bureau (You will need to visit any of the member banks with your national ID card.)
El Salvador: http://www.equifax.com/home/es_sv
Estonia - http://www.krediidiinfo.ee
France - http://www.experian.fr
Georgia - http://www.creditinfo.ge
Germany - https://www.meineschufa.de
Ghana - http://www.xdsdata.com/
Greece - http://www.tiresias.gr
Guatemala - please reach out to us at firstname.lastname@example.org to request our assistance
Hong Kong - http://www.transunion.hk
Hungary - http://www.bisz.hu
India - CIBIL (Request your CIBIL Score Including CIR)
Indonesia - Biro Informasi Kredit
Ireland - Irish Credit Bureau
Italy - http://www.infocomas.com
Jamaica - Creditinfo Jamaica
Japan - http://www.jicc.co.jp
Jordan - Jordan Credit Union
Kazakhstan - First Credit Bureau (CreditInfo)
Kuwait - Credit Information Network (Ci-Net)
Kyrgyzstan - http://www.ishenim.kg
Lebanon - Complete the attached Release Form to give us permission to perform a background and credit check on you from our side.
Macedonia - http://www.mkb.mk
Malaysia - http://creditbureau.bnm.gov.my
Mauritius - You can get this MCIB (Mauritius Credit Information Bureau), but you must call in person at the MCIB and make a formal request.
Mexico - http://www.burodecredito.com.mx
Mozambique - http://www.crbafrica.com
Nepal - http://www.cibnepal.org.np
Netherlands - http://www.experian.nl
Norway - http://www.experian.no
Pakistan - Request your Credit Information Report from your bank, or complete the attached Release Form to give us permission to perform a background and credit check on you from our side.
Panama - https://www.intelidat.com/
Paraguay - www.informconf.com.py
Peru - http://www.equifax.com
Philippines - http://www.cibi.com.ph
Poland - BIK Biuro Informacji Kredytowej (Request the PLUS Report WITH Score.)
Portugal - Equifax Iberica (Credinformações)
Qatar - Visit the Customer Service Center at Qatar Credit Bureau and apply for a Credit Report. You will need to present your original ID card, fill in a credit information report request form and attach a copy of your ID card.
Romania - http://www.birouldecredit.ro
Russia - Experian-Interfax
Saudi Arabia - http://www.simah.com
Singapore - http://www.creditbureau.com.sg
Slovakia - http://www.scb.sk
South Africa - http://www.transunion.co.za
South Korea - National Information & Credit Evaluation, Inc; Korea Information Service, Inc; Seoul Credit Rating & Information, Inc; Korea Credit Bureau; or your local bank.
Spain - http://www.equifax.es
Sri Lanka - http://www.crib.lk
Sweden - https://www.uc.se
Switzerland - http://www.dnb.ch
Trinidad and Tobago - http://www.transunion.co.tt
Turkey - https://www.findeks.com
Uganda - www.compuscan.co.ug
Ukraine - First Credit Bureau Ukraine; International Bureau of Credit Histories; OR IBCH.
United Arab Emirates - Al Etihad Credit Bureau
United Kingdom - Experian or Equifax
United States - US students are able to obtain a FREE annual credit report from www.freecreditreport.com which you have access to for up to 6 months. You can also receive a credit report at Experian beyond 6 months for a fee.
Uruguay - www.clearing.com.uy
Venezuela - http://sudeban.gob.ve
Vietnam - http://www.pcb.vn
Zambia - http://www.crbafrica.com
Zimbabwe - Financial Clearing Bureau
Note: If the report is issued in a language other than English, you will be required to submit the original document as well as a full English translation by a certified translator. We recommend http://gengo.com/ for translations to English.
The quote you first receive is a non-binding provisional loan offer that allows us to set aside funds for you. Even after you’ve received the quote you can still request a change to your loan amount or cancel your application at any time. If you choose to accept the quote, we’ll confirm your application and send you our final loan offer and your loan agreement to sign. Once both parties have signed the final loan agreement, it’s at this stage that it will be binding.
The interest rate we offer is tailored to you. To understand your potential, we assess variables provided in your application and from external factors. These variables are what makes our credit model unique, ensuring we can offer you the most competitive rates possible, without you needing to provide collateral or a co-signer.
Your interest rate is made up of two parts: a fixed margin and base rate. We use 3 month LIBOR for the base rate which is the benchmark used by lenders around the world and varies with market fluctuations.
We recommend using APR to compare different loan offers. APR is the annual rate charged for borrowing, expressed as a percentage, that represents the yearly cost of funds over the term of the loan and includes all fees and costs associated with servicing the loan. It is not the rate at which interest accrues on your loan. Watch this video to learn more.
An electronic copy of your Loan Confirmation Letter will be uploaded to your dashboard and can be used to support your visa application, and as a financial guarantee for your school. If you need a hard copy we can courier this to you for A £25 GBP fee, please request by emailing email@example.com.
We will email you shortly before class starts with your final loan agreement to e-sign once you are on campus. Please make sure your email address and phone number are up to date by logging into your dashboard.
We will add an administration fee of up to 2.5% of your loan amount to your balance at the beginning of your loan term. We “fully amortise” your administrative fee which means the payments of this fee are spread out evenly across your regularly-scheduled monthly payments.
If you wish to defer a loan within an academic period please contact us at firstname.lastname@example.org to see if you qualify. If you have started your programme but are not able to complete it, please let us know immediately so that we can advise you on next steps to repay the loan.
We remove all hassle by sending the funds directly to your school, who will process it without you needing to do anything.
What can I use the loan for: Some schools allow funds to be used for living expenses as well as tuition fees (please check your school loan terms page for details). If your loan includes living expenses, we will send all funds to your school, and once tuition fees are paid they will then transfer living expense funding to you.
When are the funds paid: Your school sets the date that funding is sent to them, so we cannot adjust this on an individual basis. Funding will be sent at the start of class, and do not worry if the date we send your funds and your tuition date do not correspond - we will work with your school directly to resolve this.
Certification is a process in the U.S. created for the purpose of borrower protection. Before a lender can send the loan, certification must be completed by the school. The school will check the loan amount to ensure it falls within their funding requirements, and they will look at your total financial profile to ensure that the Prodigy Finance loan combines with other funding sources to cover your tuition and living expenses. When approved, your school will set the date for Prodigy Finance to send the funds to them. We will then upload your final loan agreement and disclosure documents to your online Dashboard for you to e-sign when you arrive on campus.
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.