What is Prodigy Finance? Introduction and Important Details

Prodigy Finance is a global fintech platform that provides student loans to international graduate students pursuing education at top universities around the world. 

Founded in 2007 by three INSEAD students, the company was built on the belief that access to quality education should not be limited by geography or financial background.

With over 45,000 students funded from 150+ countries, Prodigy Finance has redefined how students access financial support—offering flexible, no-collateral loans with competitive interest rates.

Read more: What is Aqua Finance? Everything You Need to Know

Key Takeaways

• Collateral-Free Funding: Students can borrow up to $220,000 without needing collateral or a co-signer (in most cases).
• Global Reach: Loans available for students from over 120 countries attending 1,000+ schools worldwide.
• Quick and Transparent: Provisional offers issued within 15 minutes and no hidden fees in loan terms.

How Prodigy Finance Works

Prodigy Finance uses a borderless lending model where funding is based on a student's future earning potential, not just their current financial status or credit history. Here’s how it works:

1. Apply Online: Fill in your details, select your school, and check your loan eligibility in seconds.
2. Receive Offer: If eligible, get a customized loan offer in as little as 15 minutes.
3. Loan Disbursement: Approved funds are sent directly to your university to cover tuition and expenses.
4. Repayment Options: Flexible repayment over up to 20 years, with early payment discounts available.

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Loan Features

• Interest Rates: Variable rates starting from 8.35% APR*
• Loan Terms: Up to 20 years with no early repayment penalties
• Coverage: Tuition, living expenses, and full cost of attendance
• Options: Co-signer loans (India only) or individual loans
• Eligibility: Open to international students accepted into postgraduate programs at partner schools

Supported Destinations

Prodigy Finance supports loans for programs in:

• United States
• United Kingdom
• Canada
• Australia
• France

And many more top study-abroad destinations.

FAQs

Who can apply for a Prodigy Finance loan?

International graduate students accepted into eligible postgraduate programs at supported schools. Loans are typically for business, engineering, law, public policy, and health sciences degrees.

Do I need a co-signer or collateral?

No. Most Prodigy Finance loans do not require collateral or a co-signer, except for specific options available to Indian applicants.

How fast is the process?

Eligibility results are available in seconds, and a provisional loan offer can be issued within 15 minutes of completing an application.