Prodigy Finance Abroad Education Loan Process

Prodigy Finance Abroad Education Loan 

Founded in 2007 by three post-graduation students, Prodigy Finance was founded and works on the philosophy that financing an education should not be a barrier for any student.

They understand the pain of students who can not afford any collateral or manage any co-signer or guarantor to get a loan. Running on a fintech model, Prodigy Finance has changed the system of financing education.

 

Steps for Prodigy Finance Abroad Education Loan Process

It is particularly easier to apply for an education loan with Prodigy Finance than any other banking institution. Follow these simple steps for a Prodigy Finance abroad education loan process:

• Before applying, check if your university is supported by Prodigy Finance for education loans or not.
• Once you’ve confirmed your university eligibility, the next step is to create an account and submit all the necessary information.
• Once you’ve submitted your application, Prodigy Finance will give you a non-binding provisional offer which remains valid for 14 days.
• If you’re satisfied with the loan terms and conditions, accept the offer.
• After your acceptance, you’ll need to submit specific documents required by Prodigy Finance and once your documents are verified, Prodigy Finance will match your requirements with available funding.
• Your funding will be allocated and it’s an important step to accept the offer in order to finalize your loan.
• Sign the loan agreement digitally. 

Please note that funds are sent directly from Prodigy Finance to your university. 

Also Read : Education Loan Eligibility Criteria for Studying Abroad

Documents Required for Prodigy Finance Abroad Education Loan 

After you’ve accepted the provisional offer,  you’re required to submit the following documents:

Identity Proof	– Valid Passport – A clear selfie
Proof of Address	– Any bank document (bank statement, credit card statement, bank confirmation letter, etc.) – Utility or municipality bills (electricity bills, water bills, etc.) – Rental Agreement, or letter from your landlord – Income Tax Return – Telephone account (for a physical landline)
School Admission	Any document that confirms your admission (a letter, i-20, or email from your school clearly displaying your name, school, course, and an indication that you’ve been accepted)
Credit Report	A copy of your credit report prepared by a credit reference agency
Proof of Income (if applicable)	For Pre-study: – 3 months’ salary slip dated within the last 6 months For Post-study Salary – Signed employment contract If studying Part-time: – 3 months’ recent salary slips dated within the last 4 months and – 1 month’s corresponding bank statement
Savings or family contributions	– Savings account statements  – A duly filled form with details (If somebody else is contributing towards your savings) – Confirmation from your school and proof of payment (If payment has been made to the school)
Scholarship Confirmation	– A non-editable letter from the source of scholarship (on letterhead) – In the case of non-state tuition- a letter with all the relevant information

Benefits of Availing of an Education Loan from Prodigy Finance

There are multiple reasons for availing of an education loan from Prodigy Finance including:

• Completely Online Process: Unlike any other banking institution, the whole process of education loan, from application to disbursement is online. Hence, there’s no hassle of visiting Prodigy Finance’s office again and again.
• Easy Eligibility: There are only two determinants of eligibility- the academic record of the student and the university. 
• Guided Assistance: Prodigy Finance assists students at every step and stage of the loan application process.
• Wide Loan Coverage: Education loan from Prodigy Finance covers 100% of the cost of education including tuition fees, accommodation costs, living expenses, caution deposit, building fund, or refundable deposit (if applicable).
• Fast Processing Time: Once you file the application, the processing time is only 7-8 working days.
• Long Repayment Tenure: Prodigy Finance offers longer repayment tenures of up to 20 years.

Also Read : Education Loan for BBA Abroad

Eligibility Criteria for Prodigy Finance Education Loan

Prodigy Finance has possibility the easiest eligibility criteria for education loans. The applicant must need to tick the following boxes:

• You must be residing in a country which Prodigy Finance Supports
• You must be enrolled in a foreign educational institution.
• You must have the proof of admission duly signed by the educational institution. Please note that Prodigy Finance supports certain schools and programs. It is always advisable to check in advance if you’re enrolled in such supported programs and schools. 

 

How Does HiWiPay Help in the Prodigy Finance Abroad Education Loan Process?

At HiWiPay, we understand how painful it is to go to bank to bank and compare the lending process.

But not to worry! HiWiPay is your one-stop solution for all your financing needs. It is a platform that connects your requirements with the best possible lender.

Fill in all the required details and we will align it with the Prodigy Finance abroad education loan process. Within as low as 24 hours, a Prodigy Finance official will contact you directly with customized offers.

Begin the journey of your dream education with HiWiPay and keep your worries at bay.

Read More – HDFC Credila Education Loan

Conclusion

If you’re planning to study abroad and looking for that perfect lender, then Prodigy Finance is your saver. With no requirement for any collateral, co-signer, or guarantor, you can become eligible for the loan very easily. All you need to do is check if the program and school you’re enrolled in is on the list that Prodigy Finance supports. The loan eligibility is entirely based on your potential rather than your financial circumstances.

FAQ of Prodigy Finance Abroad Education Loan