Prodigy's Loan Policy: Can You Get A Second Loan?

Prodigy Finance provides loans for international graduate students pursuing master's degrees in business, engineering, law, and public policy. The company offers loans to eligible borrowers, governed by English law, and supports over 850 schools in 18 different countries. To apply for a Prodigy Finance loan, you must create an account on the website and provide contact information, address history, and details about your income and outstanding debts. While you can have more than one loan, it is not clear if Prodigy Finance will provide a second loan if you already have one.

Prodigy Finance loans are for international graduate students

Prodigy Finance provides loans for international graduate students pursuing master's degrees in business, engineering, law, and public policy. The company has been facilitating international education for students worldwide for 17 years.

Prodigy Finance supports about 850 schools in over 18 different countries, including the US and the UK. The loan is available for students from 120+ countries, covering top universities worldwide. The country you plan to study in must also be supported by Prodigy Finance. You can check the company's school search page to see if your college and course are supported. Each university and programme has a different set of terms for the acceptance of Prodigy Finance loans. Some allow these finances to cover only tuition, while others permit the full cost of attendance (tuition plus living expenses).

The amount of the loan offered by Prodigy Finance is based on your potential earnings post-graduation. This usually allows for a higher loan offer than local banks can provide. There is no cost to apply for a Prodigy Finance loan, and you can get a quote before being accepted to your program. The application process is facilitated online, and hard copies of documents are not required. Once you receive a provisional loan offer, you’ll be asked to upload supporting documentation, including a credit report and background check. You will also need to obtain a Loan Letter (known as a sanction letter in some countries) to secure the I-20 form, which is required for applying for a visa.

Prodigy Finance is authorised and regulated by the Financial Conduct Authority (firm registration number 709641) for certain consumer credit activities. Prodigy Finance loans are offered to eligible borrowers and are governed by English law.

The loan is for students pursuing a master's degree in business, engineering, law, or public policy

Prodigy Finance provides loans for international graduate students pursuing a master's degree in business, engineering, law, or public policy. The company was founded in 2007 by three former MBA students and has since supported students from 120+ countries, covering top universities worldwide.

Prodigy Finance offers co-signer master's loans starting from 8.35%* variable interest rate, tailored to your future earning potential. The amount offered is based on your potential earnings post-graduation, which usually allows for a higher loan offer than local banks. The loan application process is simple and online, with no cost to apply.

To apply for a Prodigy Finance student loan, you must first ensure that your school and programme are supported. Each university and programme has different terms for the acceptance of Prodigy Finance loans, so it is important to check the parameters before applying. Some programmes allow finances to cover only tuition, while others permit the full cost of attendance (tuition plus living expenses).

Once you have found your school and programme, you can register and apply for the loan. After submitting the required information, you will receive a provisional loan offer and be asked to upload supporting documentation, including a credit report and background check.

It is important to note that Prodigy Finance does not refinance any student loans. If you already have a loan, you can message the support team by logging in to your account or using the app.

Prodigy Finance offers loans to eligible borrowers governed by English law

Prodigy Finance provides loans for international graduate students pursuing master's degrees in business, engineering, law, and public policy. The company has been facilitating international education for students worldwide for 17 years.

Prodigy Finance is authorised and regulated by the Financial Conduct Authority (firm registration number 709641) for certain consumer credit activities. Prodigy Finance loans are offered to eligible borrowers and these loans are governed by English law. Prodigy Finance Servicing, LLC, is an affiliate of Prodigy Finance Limited and conducts the business of servicing loans for residents of certain US states.

Prodigy Finance's student loans are collectively funded by a community of alumni, institutional investors, and qualified private investors who receive both a financial and social return. The company provides some information about its borrowers to these investors, including repayment status. This transparency means that the borrower's name and career act as their collateral and cosigner.

Prodigy Finance offers loans of up to $220,000 with no collateral needed. The loans can cover up to 100% of the total cost of attendance, including tuition and living expenses. The company provides transparent terms with no hidden fees, and the interest rate is tailored to the borrower's future earning potential. Prodigy Finance supports about 850 schools in over 18 different countries, and offers courses from 1700+ schools at 480+ universities.

The loan application process is facilitated online, and hard copies of documents are not required. Once a provisional loan offer is received, the borrower must upload supporting documentation, including a credit report and background check. The borrower will then sign their loan agreement digitally once they arrive on campus, and the funds are sent directly to their school.

The loan amount is based on the applicant's potential earnings post-graduation

Prodigy Finance provides loans to international graduate students pursuing master's degrees in business, engineering, law, and public policy. The company assesses applicants based on their potential earnings post-graduation, in addition to their financial and credit history. This means that the loan amount is based on the applicant's potential earnings after completing their degree.

Prodigy Finance's student loans are calculated using a simple interest rate formula. The interest rate is variable and depends on the applicant's risk profile, which is determined by their future earning potential and credit report. The company offers loans without collateral or a co-signer, and there are no hidden fees.

When applying for a Prodigy Finance loan, students can get a quote before being accepted to their program. They will need to provide proof of admission when finalizing the loan. The application process is online, and students can apply from anywhere in the world with a secure internet connection. Once a provisional loan offer is made, applicants will be asked to upload supporting documentation, including a credit report and background check.

Prodigy Finance supports over 850 schools in 18 countries, with loans available for programs at more than 1,700 schools worldwide. The company provides loans to eligible borrowers, and these loans are governed by English law. It is important to note that not every program or university is supported, and students should check the specific terms and conditions of their program before applying.

Prodigy Finance does not refinance student loans

Prodigy Finance provides loans for international graduate students pursuing master's degrees in business, engineering, law, and public policy. The company has been facilitating loans for 17 years, and its services are available in over 18 countries and 850 schools.

Prodigy Finance does not require a co-signer, and there are no hidden fees or collateral requirements. The loan application process is simple and online, with no cost to apply. Once a provisional loan offer is accepted, the borrower must upload supporting documentation, including a credit report and background check. The borrower will then be matched with available funding.

Prodigy Finance's loan costs include an admin fee and interest, with a combination of fixed and variable rates. The loan terms range from 7 to 20 years, with no prepayment or late fees. The minimum loan amount is $15,000, and the maximum is $220,000.

In summary, Prodigy Finance provides international graduate students with loans to fund their master's degrees, considering their future earning potential rather than their current financial situation. However, the company does not offer refinancing options for existing student loans.

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