Prodigy Finance Education Loan

Get Free Education Loan Assistance

Interest Rate

Range 6.7% to 11%

Processing Fees

2.5 % to 4%

Loan Margin


Apply Loan Online

GyanDhan understands that the process of education loan for abroad studies can be arduous and frustrating. Especially to those who don’t have any collateral or guarantor to support their application. To help such students turn their dreams into reality, GyanDhan has partnered with Prodigy Finance.

Launched in 2007, Prodigy Finance is a UK based financial institution that has revolutionised the education loan process while maintaining the highest quality of service. They help the students, on the basis of their academic profile, get study abroad education loan without any collateral or co-applicant. If you’re thinking of joining this cohort of international students funded by Prodigy Finance, GyanDhan is the apt place to contact.

Check Prodigy Finance Education Loan Eligibility

What Makes Prodigy Finance Education Loans Different?

Prodigy Finance India offers loans without any collateral/co-applicant, at modest interest rates to international students. In a nutshell, Prodigy Finance seeks to fill the gaping hole left by the shortages of domestic banking restrictions. Another distinct feature is that it provides loans in USD or EUR. The application process of Prodigy Finance for abroad studies is entirely online.

Features Details
Collateral/Co-applicant Not Required
Annual Percentage Rate
  • Ranges from 6.7% to 11%.
  • Average is 8.4%.
  • Exact rate is linked to a benchmark rate (US 3 month LIBOR) and depends on your profile.
  • APR is expressed as a percentage that represents the actual yearly cost of funds over the term of a loan. This includes any fees or additional costs associated with the loan
Admin Fee ~2.5 % to 4% of the loan amount. Not required to be paid upfront. Added to the total loan amount.
Repayment Starts after 6 months of course completion. No repayment during moratorium period
Prepayment Penalty Nil
Repayment Tenure 7, 10, 15, or 20 years
Apply For Prodigy Finance Education Loan
prodigy finance Loan Procedure

Procedure For Getting Loan

  • Step 1: Contact GyanDhan and let our education loan counsellor know your intention to start the process or apply here directly.

  • Step 2: Within 6 business hours, GyanDhan initiates your loan application. It sends you the login details of your Prodigy account and a link to log in to your account. After logging-in, you’ll have to fill your personal and academic details, attach the documents, and submit the application.

  • Step 3: Once your details and proofs are verified (it takes less than 5 minutes in verification), your conditional loan confirmation letter will be available on your dashboard. You will also get an email of your loan sanction letter which can be used to secure the student visa.

  • Step 4: After the loan is sanctioned and the online agreement is signed, all your funds are disbursed directly to your school when needed.

prodigy Documents

Documents Required

  • 1. Proof of identity such as passport, driver's license, or government issued identification document.

  • 2. Proof of Address such as water bill, electricity bill, bank document, rent agreement, etc.

  • 3. Proof of Admission - A letter from your school confirming that you've been accepted into your program or an email from your school confirming your admission.

  • 4. Credit Report.

  • 5. Proof of Income (if applicable).

  • 6. Proof of Savings (if applicable).

  • 7. Proof of Scholarships or Company Sponsorship (if applicable).

Apply For Prodigy Finance Education Loan To Study Abroad


Getting Your Prodigy Finance Education Loan Through GyanDhan

Completely Online Process

The entire process of Prodigy Finance Education Loan is online so the students don't have to visit the company even once. GyanDhan will assist you in the entire process.

Loan Without Collateral or Co-applicant

Prodigy sanctions large loan amounts without collateral or co-signer. Loan sanctions entirely depend on the student's academic profile and the college he has got admission in.

Free Loan Assistance

GyanDhan assists you through the complete process of education loan application, sanction, and disbursement. Therefore, you can leave all your education financing related worries to us. Our education loan counsellor (ELC) will explain the entire process in detail and will help you in furnishing all the requirements.

No Margin Money

Prodigy Finance education loans cover up to 100% of expenses. So, you will not have to finance any part of the total expense involved in your education abroad. Prodigy loans take care of all the expenses incurred such as tuition & living costs and caution deposit/building fund/refundable deposit.

Quick Processing of Loan

Prodigy Finance's loan processing time is much faster in comparison to other financial institutions. After submitting all the documents via GyanDhan, a conditional loan approval can be obtained within 5 days

Repayment Period

Term for the repayment of the Prodigy student loan is up to 20 years and the repayment starts 6 months after classes end.

How Does Prodigy Disburse the Tuition Fee?

Prodigy Finance disburses all your funds directly to your school. It coordinates with the school to ensure that the tuition fee deadlines are met and the student doesn't incur any additional interest or late fees. In this way, the student can rest assured and focus on the studies.

How Does a Student Receive the Funds For Living Expenses?

For several schools, Prodigy Finance covers part of the living expenses. If the student intends to use part of his/her loan to cover living expenses, he/she doesn’t need to provide the bank details to Prodigy Finance as it disburses all the funds directly to the school. The school further credits the tuition fees and any funds in excess to the student’s personal bank account.

How Does a Student Receive the Funds For Living Expenses?

  • The applicant must have been admitted to a school and program supported by Prodigy Finance. Remember, one can apply for a quote before getting an admittance letter. An admission letter is asked for at the time of loan approval.
  • The applicant must be a citizen of one of the countries supported by Prodigy Finance.

Which Courses are Eligible for a Prodigy Finance Education Loan?

Prodigy offers overseas education loan for the following courses:

  • STEM (Science, Technology, Engineering, Mathematics)
  • Business
  • Public Policy
  • Law
  • Health Sciences
  • Economics

Which Countries are Eligible for a Prodigy Finance Education Loan?

Prodigy Finance offers education loans for over 800 schools in 18 different countries.

Request a Call Back from our Education Loan Counsellor

Frequently Asked Questions

Yes, Prodigy Finance covers both tuition fees and living expenses.
APR or Annual Percentage Rate is expressed as a percentage that represents the actual yearly cost of funds over the term of a loan. This encompasses any fees or additional costs associated with the loan.
In case of Prodigy Finance, the APR ranges from 6.7% to 11% while the average is 8.4%.
No, there is no prepayment penalty levied on Prodigy Finance education loan.
No, there is no margin money on Prodigy education loans.
Repayment tenure of abroad education loan from Prodigy is up to 20 years.

Our Lending Partners

Prodigy Finance Education Loan Reviews - Student's Speak


Michigan State University - Master’s in Business Analytics

I never thought it would be so quick. It would have been nearly impossible for me to do my master's if Prodigy Finance wasn't there.


Duke University - Master of Engineering Management

It was much more efficient than Indian banks. The thing that stood out most for me about Prodigy Finance was the people. There is someone you can reach out to, and someone will personally get back to you.



It's the opportunity to accomplish a dream and I don't know where I would be now without the Prodigy Finance's International Student loans.

Upcoming Events

Unsecured Loans Up To 1 Crore for Studies Abroad

  Fri, June 02, 2023    18:00 IST

How to Secure the Guaranteed Best Education Loan?

  Fri, June 09, 2023    18:00 IST

Education Loans for Masters in the USA

  Fri, June 16, 2023    18:00 IST

Looking For Help in Foreign Education Loan? Arrange a Call From an Expert:

Enter Mobile no. Without Any Prefix.
By entering my phone number here, I hereby authorize GyanDhan to contact me through call, message or WhatsApp. \ It will override my registry on the NCPR/NDNC