This is calculated based on the loan amount, the remaining term of the loan, and the margin and LIBOR (which is adjusted every 3 months) rates.
Full time students begin repayment 6 months from class end date.
Part time students begin repayment 3 months from final disbursement date.
Yes, you should. While a balance remains on your loan it serves no purpose to skip payment as this will only cause your minimum obligation to increase and it is best to keep it as low as possible. Payments not received by the end of the month will incur a late fee of EUR / USD / GBP 25.
No, unfortunately the terms of the loan cannot be restructured or renegotiated. It's not possible to change the currency of your loan, because your loan is essentially an asset that is denominated in a specific currency. The investors who helped to fund your education have invested in the same currency.
There is no penalty for making larger than expected payments or for settling the loan earlier than scheduled. Please note that a bulk payment does not create a “credit facility” against which due monthly payments can be set-off.
If you are experiencing financial difficulties and can’t repay your loan, please contact us immediately by emailing firstname.lastname@example.org so that we can work with you to attempt to find a solution.
If you choose not to pay or are ultimately unable to pay, your loan will fall into arrears and later into default, when we will begin our legal process which is enforceable in 150 countries.
Watch this video and listen to one of our colleagues explain what FX Risk is and how it might impact you.
When making your monthly payments please remember to:
We have three repayment methods that you can choose from:
We send monthly statements by email which include your balance and repayment amount due. Please contact us at email@example.com if you have changed your email address.
We can issue a tax certificate listing transactions on your account including payments received, interest, admin fees and late fees. Beyond this we are unable to advise on tax matters and advise that you speak to a local tax attorney.
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 - 2018. 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 BriceAmery Capital Limited which is authorised and regulated by the Financial Conduct Authority. Prodigy Services Limited promotes offers of securities for third party issuers to eligible investors.