Prodigy Finance Education Loan for Study Abroad

Prodigy Finance is one of few companies that provides Education Loans without a Co-Signer or Collateral. Founded in 2007, it has helped more than 42,000 students worldwide achieve their dream of studying abroad. 

Prodigy Finance provides an Unsecured Education Loan without a co-signer based on the Student's academics and the University Offer Letter. So, students without collateral or an eligible Co-Applicant can apply for an Education Loan with Prodigy Finance via Abroad Cube. They provide Education Loans for selected Universities in the USA, UK, Canada, Australia, Belgium, China, Denmark, France, Germany, Hong Kong, India, Italy, Netherlands, Portugal, Singapore, South Africa, Spain, Switzerland, and the United Arab Emirates. 

Expenses Covered by Prodigy Education Loan

Here is the list of expenses covered by Prodigy for an Education Loan

1. Tuition Fee payable to University/College
2. Living expenses, including accommodation, food, and day-to-day expenses (Some selected cases only)

Please note that in majority of the recent applications, Prodigy chose to fund only University Fees and asked the students to cover Living Expenses on their own. 

Eligibility Criteria for Prodigy Education Loan

Here is the basic Eligiblity Criteria for Study Abroad Education Loan by Prodigy Finance. 

Student

• must be a minimum of 18 years of age and have a good CIBIL history

University & Course

• must be in pre-approved list
• must be of Post-Graduation or Master's Level

Academics

• must have a minimum of 50% in Class 10th, Class 12th, Bachelors and Masters
• must have a sufficient language proficiency exam scores

Charges of Prodigy Education Loan

Here is the list of basic charges involved in Prodigy Finance Study Abroad Education Loan

Documents Required for Prodigy Education Loan

Prodigy Finance does not ask for any documents until pre-approval, and you will be asked to upload the following documents for Final Approval. 

1. Passport (First & Last page)
2. Proof of Address - It should be your Residential Address proof, such as an Electricity Bill or any other evidence of identity with your current address.
3. University Offer Letter - You must submit the Offer Letter for the Eligible University and Course.
4. Credit Report - A CIBIL Report downloaded from an accredited organization website such as Cibil.com
5. Academic Documents - All mark sheets and certificates from Class 10th until your last education qualification.
6. Proof of Funds - Bank Statements, Fixed Deposits, or Sponsorship Letters

Eligible Courses for Prodigy Education Loan

Prodigy Finance has the following list of eligible course categories. To verify the eligibility for particular university and course, please visit Prodigy Finance website

1. STEM (Science, Technology, Engineering and Mathematics)
2. Business
3. Law & Public Policy
4. Health Sciences
5. Economics

Disbursement process of Prodigy Education Loan

Once you have been approved for an Education Loan by Prodigy Finance, the next step will be the signing of the Loan Agreement. The process will be done completely digitally, and you might asked to upload some documents if pending.

Prodigy Finance will disburse all funds directly to the University, including your tuition fees and living expenses, if applicable. As per the arrangement between Prodigy Finance and the University, the institution will transfer excess funds or the Living Expenses amount to the Student's personal Bank Account. They make sure that the University receives the required fees before the deadline, but if you are worried about the close deadline, please reach out to their Support via Email and inform them.