Prodigy Finance Education Loan
Get Free Education Loan Assistance
Interest Rate
Range 6.7% to 11%
Processing Fees
2.5 % to 4%
Loan Margin
0%
Overview : Prodigy Finance Education 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.
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 |
|
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 |

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.
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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.

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).
Benefits
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.
Frequently Asked Questions
Our Lending Partners
Prodigy Finance Education Loan Reviews - Student's Speak
Niharika
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.
Akash
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.
Daniela
INSEAD - MBA
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.