is prodigy finance good

Prodigy Finance specializes in offering loans for postgraduate students studying abroad. Prodigy Finance charges a whooping processing fee of 2.5% of the loan amount. Talent is borderless, and we believe the best education should be available to the most deserving students. like Prodigy Finance: “Monterrey is the starting point of industrial Mexico. If you've lived in your study country for less than 1 year when you apply for a loan, you'll still be eligible. Completing your budget Which schools do you support? Like borrower’s personal information( contact, home address, social security, etc), proof of income, and the specifics of your loan. Prodigy Finance education loan is a platform that provides financing for foreign postgraduate students who get admitted to a participating educational institution or a business school.Prodigy Finance education loan is provided by a circle of investors. We work really hard. A 3 month LIBOR is used for the base rate which is the benchmark interest rate used by lenders and banks around the world and varies with market fluctuations. Early repayments can be made without fees. Learn more about the refinanced loan offered, the eligibility, how they go about calculating their interest rate and much more. How much should I pay? Students from 150 nationalities can apply for Prodigy Finance … Overview Overview. Most of the participating institutes are located in the US, the UK and Singapore. Prodigy Finace was started as a small community in 2007, to finance the accepted students at INSEAD. Companies like Prodigy Finance. Can I pay more than my monthly instalment? Fintech is good, disruptive fintech is better. Beginning their story 12 years ago with 3 INSEAD students in 2007, today, it can proudly be said that Prodigy finance has funded more than 15,000 students for their postgraduate studies. Loans are available in 150 countries for borrowers attending one of 400 schools. Making education accessible is one of the main motives of Prodigy Finance, and they are proving it by offering reasonable terms to facilitate refinancing as seen in the table above. 2) To be from one of the 150 countries supported by Prodigy, with an intention to study abroad. In this post, Chloë invites Padmapriya (Indian student at HEC … Want to move to USD and better rate. How is my Prodigy Finance interest rate decided? If Alex goes with Prodigy Finance… Now he requires INR 50 lakhs as an education loan. Prodigy Finance does not have any defined policies for forbearance or loan discharge but the lenders work with borrowers to determine the solution for the situation when the borrower is unable to pay. Yocket has partnered up with Axis Bank, SBI, HDFC Credila, Prodigy Finance, InCred and MPower Financing to help our users with education loan assistance. As mentioned above, there is no requirement for a U.S. credit history. are taken into account. This is a very high figure when compared to state-run/ government banks. What documents do I need to finalise my loan? So factors like target course, college, country, job prospects after graduating, expected salary, etc. - Criticism against the culture is not appreciated, I worked at Prodigy Finance for less than a year, Mission-driven fin-tech with huge potential to expand marketplace; positive work environment across multiple international cities with global outreach; nimble approach to remote work and collaboration with colleagues and clients, Unable to secure necessary private financing before pandemic decimated the business and slashed workforce; erratic levels of professionalism and customer service. As we now know, Prodigy Finance specializes in offering loans for postgraduate students studying overseas. Disclaimer: Our team strives to provide information that is accurate, complete and timely, but we make no guarantees about the information published, listed schools, accreditation status, financial aid and scholarships, career opportunities, employment and salary outcomes. How do you select the schools you work with? Prodigy Finance is a non-banking company that provides education loans to international students who want to pursue their MBA, MS, and other Masters degrees across 200+ universities globally. What Prodigy Finance is looking to change is that the borrower’s creditworthiness is often given less importance as compared to the bank regulation in a lending market. Prodigy Finance was submissively serving Indian study aspirants over the last few years until they got this massive funding of $240 million in August 2017 and that’s made this community lender take this big leap to transform into a commercial lender. Prodigy Finance is a revolutionary platform enabling easy finance options available to international students in postgraduate education, either attending a participating business school or certified postgraduate institution. The Yocketeer is appointed a personal loan assistant and is given complete attention to help maximize the chances of … Prodigy Finance is a semi-direct lender that partially funds its student loans through investors. The Social Security Number is not a necessity. The currency of your existing loan will be settled USD. In U.S. alone, Prodigy Finance loans cannot be accessed by students living in these states: Dual degrees can also be funded by Prodigy Finance. The new loan will also be paid in USD. Another distinct feature is that it provides loans in USD or EUR. Learn more about student loans, The primary criterion for this is that you must be an international graduate who is currently working but have attended a top masters program in the past. There are also no penalties or fees for early repayment or early loan settlement. Prodigy Finance. Finance Prodigy Starts Firm at 16, Teaches Kids Money Management. How can I get my credit report? Here are the disadvantages of getting your loans serviced with Prodigy : There aren’t any formal options for deferment/forbearance. Updated by Taskeen Fatema on 15th June 2020. Prodigy Finance enables international students from over 150 countries to attend the world’s top universities. Then after choosing “Get My Rate” you will get an estimation of refinancing the loan and the best part is your credit score will not be impacted. There is good [undergraduate] education here, and a lot of talent, but limited accessible funding. Find more answers Prodigy Finance student loans are available to graduate students in programs studying business, science, technology, engineering, math, public policy, economics, law, and medical professions. In order to be eligible for a student loan from Prodigy Finance, you must be part of a participating postgraduate program. Copyright © 2008–2021, Glassdoor, Inc. "Glassdoor" and logo are registered trademarks of Glassdoor, Inc. { "isFollowing": false, "isEEPActive": false, "isEiHeaderFollowBtnDos2Enabled": false }, "Great experience working at fast moving startup", "Decimated by the Pandemic and future remains unclear". We provide a neutral, third-party review of Prodigy's interest rates, … 22 Reviews. Which is got with a good application profile strengthened with a good credit score. It is highly favorable for individuals with high incomes. Can I pay custom amounts to my individual loans? A loan for anyone. Apart from the 150 countries that are supported, the entire list of countries that are not supported can be found on the official website. Currently, Prodigy Finance lends to borrowers pursuing a graduate degree in fields such as business, engineering, law or public policy. Yes - Prodigy Finance is relatively new and this is far too high an interest rate in any country globally in the current environment of globally low interest rates (or … I decided to start a business from September last year which has been growing nicely ever since so I suppose something good came out of last year through all the bad stuff. The only thing to keep in kind before going that route is to make sure your school as well as your course is funded and supported by them. After analysis of the procedure, the loan amounts granted, terms involved, interest rates and so on, we have charted a list of advantages and disadvantages on the whole. In the news. Additionally, you must be residing on any visa in either the UK or eligible US states, Here is a list of the eligible states to avail the services of Prodigy finance -. Graduate students across borders and U.S. non-citizen residents face certain obstacles while indulging in the refinancing of student loans. Ultimately, it is the ability of Prodigy Finance to fund loans for such a diverse range of students that makes them unique among loan providers. Worried about your college tuition? How do you calculate interest? Prodigy Finance is one of those enterprises that paves the way for students across the border to pursue further education easily by providing an opening to a world of opportunities for them. Prodigy offers student loans and refinancing options to international postgraduate students. Prodigy Finance India offers loans without any collateral/co-applicant, at modest interest rates to international students. Prodigy Finance believes in sending the worlds’s top talent to the globe’s best universities. Prodigy opens the world of refinancing student loans available for international students. The bottom line: Prodigy Finance is an online lender offering loans to international grad students and refinancing to international graduates working in the United States. Has anyone successfully refinanced a Prodigy Finance loan? 10 Jobs. Funding your graduate studies should be easy. You can't do ANYTHING unless you are a member. You can physically reach out to their offices on the following addresses. Don't get good at it. I worked at Prodigy Finance full-time for more than a year, - Lots of added benefits and fun activities - Your internal reputation is more important than the work you deliver An international working graduate on any is eligible visa type applies. Competitive interest rates are offered along with flexible loan terms. Chloë Foden, Head of Marketing at Prodigy Finance, wraps up the 3-part series on international MBA loans by covering the MBA financing options for Indian students and the differences between getting an education loan for overseas studies from Indian banks versus approaching an international lender like Prodigy Finance.. One of the best features of a Prodigy Finance education loan is that they grant the loan based on the future potential of the student. Prodigy Finance is authorised and regulated by the Financial Conduct Authority (firm registration number 709641) for certain consumer credit activities and for investment activities for investors who have agreed to its terms. It is registered in London[ with offices in London, Cape Town and New York. The case “Fintech: Innovation without Disruption – How Prodigy Finance Achieved both High Growth and Social Good” describes how three INSEAD alumni founded a fintech company called Prodigy Finance and created a new market of international student loans by solving a long unaddressed problem in … Getting a co-signer release is crucial during the repayment journey of the student debt. In this article, we will thoroughly review every aspect of refinancing as well as loans offered by Prodigy finance. Once you’ve submitted your application, you’ll get a provisional offer with the total amount you can borrow, interest rate, fees, and repayment terms, you also cross very your application through “View Application” and after signing with the Prodigy Finance they will send all the funds directly to your school. Similar companies and competitors in the areas of Fintech, Crowdfunding, Alternative Finance, Financial Inclusion, Lending, Alumni, Education and more. As per the official website, given below is the list of schools that are supported to be funded for dual degrees. Now it has all these stupid updates. When you opt for the option of refinancing, there are certain details to be aware of so that you are well versed with the financial outlook for the next few years of your life. Prodigy Finance loans are offered to eligible borrowers and these loans are … To help make education more accessible to all, Prodigy assesses post-grad applicants based on their future earning potential, not just their credit history. - Management in the Operations department was quite political (favouritism), all the way to the top Prodigy Finance offers loans to students at over 150 schools worldwide (most based in the United States, the United Kingdom, and the European Union). It’s also only for graduate students, so undergrads can’t apply. It is also beneficial for working postgraduates who wish to refinance their existing student loans and make it less strenuous. You can unsubscribe from the group at any time. In a nutshell, Prodigy Finance seeks to fill the gaping hole left by the shortages of domestic banking restrictions. This is what Prodigy Finance stands for. Prodigy Finance; Paying back your loan; Understanding the payment process; How much should I pay? Unlike other lenders that cater to international students, Prodigy doesn't require a co-signer. Giving a general summary of student loan refinancing with Prodigy : - It is an optimal choice for international students without any U.S. credit history. That’s why we’re offering international students competitive loans without collateral or a co-signer. Prodigy Finance offers money-saving benefits to borrowers, including discounts on student housing and on international cellphone plans. But Prodigy [Finance] says it looks most closely at applicants’ earning potential, allowing it to ignore their lack of credit history, guarantor or co-signer. - Only variable interest rates are offered. If you're a high school senior, college or grad school student. What do I do if my school or course isn't supported? Prodigy Finance makes it easy for a borrower to complete their application and allows for a high degree of trust from prompt responses to any support queries. There are no administration or origination fees for your loan. Among factors considered by Prodigy Finance are debt-to-income ratio, credit history and credit scores for loans. They changed fighting, the story, exploring, looks, and even the holiday currency that I saved (which is now useless)! Prodigy Finance offers loans to students at over 150 schools worldwide (most based in the United States, the United Kingdom, and the European Union). Prodigy Finance offers graduate loans and refinancing for international students. The highlight about teaming up with Prodigy for your educational needs is that they assess students mainly based on their future earning potential, rather than only their credit history, taking into consideration that current investment in a strong career is more viable to both the parties with a prospective of stronger return on investments. It is such variables that make Prodigy Finance’s credit model unique, ensuring that they can offer the borrower the most competitive rates possible, without the need for collateral or a co-signer. They have been financing MBA, EMBA, LLM, MFin, MPP, MPA, and MSc international students since 2007 using a ground-breaking model that is supported by a diverse network of investors. Prodigy Finance does not have a compulsion in offering student loan refinancing to only co-signed student loans. For student loan borrowers getting their refinanced loans from prodigy, they are lucky to have the cosigner release option. The eligibility criteria for the loan is - A masters’ program graduate completed from any one of the 285 universities globally selected by Prodigy Finance. By Chris Karr. By joining this group, you will be agreeing to receive promotional communications from Prodigy Finance Limited and agree to their privacy policy. - Some really smart & funny people working there - Working from home has always been fully supported, - Concerns around future of company (retrenchments) However, Prodigy Finance is a company looking to change this. Visit disclaimer for important information on these topics. Sign up to our $1,500 No-Essay Scholarship. Once you submitted all the required documents it takes up to two weeks to get approved for the loan, remember that applying for a loan a  month before is a better option to avoid last minutes chaos. We provide a neutral, third-party review of Prodigy's interest rates, … Learn more about student loan refinancing. The interest rate offered by Prodigy is not the same for each borrower, it varies from person to person depending on various factors assessed by them. Disadvantages of refinancing with Prodigy. Most people really want to go abroad and bring the knowledge back but we aren’t able to. and are expanding all the time. How do I settle my loan? The best thing about Prodigy is that it considers the future prospects of your career rather than only concentrating on your current financial status. Borrowers generally get a grace period that extends until six months after their class end date which help borrower to start payment in a stable state. One benefit of Prodigy Finance is it allows borrowers to make payments while they're still in school or during the grace period without charging any penalty for early repayment. - Lots of added benefits and fun activities - Some really smart & funny people working there - Decent salary (in South Africa) - Working from home has always been fully supported Funds were crowdsourced from alumni, financial institutions and socially-aware investors to support students who often experience difficulties securing sufficient educational loans in … Over the past decade, Prodigy finance has helped almost 9,500 students from over 100 nationalities to gain access to postgraduate education by dispensing over $400 million. Finance service not accessible to borrowers in all the states. Responsive customer service can be contacted through various mediums: Hours of operation: Monday - Friday: 06:00 - 22:00 GMT, Hours of operation: Monday - Saturday: 11:00 - 04:00 GMT, Hours of operation: Monday - Friday: 07:00 - 15:00 GMT, Hours of operation: Monday - Friday: 08:30 - 19:00 GMT. For example, let's assume Alex is a student from India who got an admit into one of those top universities which Prodigy Finance supports. Borrowers must be residing in a country, region or state that Prodigy Finance supports and should be attending a participating school outside their home country. Your response will be removed from the review – this cannot be undone. Prodigy Finance was founded in 2007 by three MBA students who noticed that international students often don’t receive the same financing opportunities local students enjoy. Prodigy Finance is a trending finance option in 2018 among Indian students looking to study abroad. Reviews from Prodigy Finance employees about Prodigy Finance culture, salaries, benefits, work-life balance, management, job security, and more. Among the main advantages that stand out are the following: The biggest benefit is the amount of money that will be saved. It offers refinancing to international workers who graduated from top master’s degree programs living in the U.S. or in the U.K. Applying for Prodigy Financial Loans and want to see if there are any catches or issues? Prodigy Finance lends loans to students from 118 countries for studying abroad across the world. You just need to meet the first requirement. Prodigy Student loans are best suitable for those U.S students who are pursuing or wish to pursue a graduate degree overseas, for international or across the border graduate students in the field of business, law, engineering or public policy. They are backed by a community of investors whose greater intention is to have a social impact on society as a whole which in turn offers the required financial return. Getting accepted into a top school should be the hard part. Prodigy Finance processing fee. Get suggested colleges and free counseling. Please leave your information to get the best suggested colleges and free counseling. Company Overview FAQ. Our model is border less and entirely online, allowing us to offer loans in over 150 countries. Prodigy Finance Review - All You Need To Know. Prodigy Finance reviews the information you submit to make its decision and in other additional information like loan statements and information about the debts have to be uploaded. Prodigy Finance can also be contacted through other means of connection such as Whatsapp or Wechat. The campus programs, after coming to the University have also been a refreshing experience. They are a good option for borrowers with no U.S. credit history, though you may end up paying more in fees and interest. The case describes how three INSEAD alumni founded a fintech company called Prodigy Finance and created a new market of international student loans by solving a long unaddressed problem in the finance industry. However, the university has to be a partner one. Prodigy Finance Review: Loans and Refinancing for International Post-Grad Students. (an average approved income to verify falling in the bandwidth of ‘high income’ has been given). - Decent salary (in South Africa) Prodigy Finance, the U.K. fintech that provides postgraduate loans has landed $1 billion in debt financing from big-name investors during the past twelve months. If you're a US resident, you'll be eligible for a loan for studies in the US or abroad as long as you're living in an eligible state (see the ineligible states in this article). Why join Prodigy Finance. Prodigy Finance...is a case study of an emerging relationship between higher education and the global financial industry. Collectively, loans from Prodigy Finance are funded by a community of alumni, institutional investors and qualified private investors who receive a return as mentioned above; whilst the borrower gains access to higher education that they might not otherwise be able to finance own their own. Reviews from Prodigy Finance employees about Prodigy Finance culture, salaries, benefits, work-life balance, management, job security, and more. To determine the eligibility for a Prodigy Finance Loan, there are two basic prerequisites: 1) To be part of a school and programmed supported by Prodigy. Prodigy Finance is a non-banking company that provides education loans to international students who want to pursue their MBA, MS, and other Masters degrees across 200+ universities globally. Loans are available in 150 countries for borrowers attending one of 400 schools. There are some exceptions which all depend on where you live when you apply and where you plan to study: If you're a UK resident, you'll be eligible for a loan for studies in the UK or abroad. Prodigy Finance enables international students from over 150 countries to attend the world’s top universities. Is it as good as it sounds? Note that a quote can be applied before you have an admit. Since 2007, Prodigy has supported applicants from more than 130 different countries, totaling over 13,900 students. Can I have my payment allocated to interest only? It’s loans are designed specifically for international students, so this loan isn’t for you if you’re a US citizen or permanent resident planning to attend a program in the US. Most of the banks don't cover the considerable amount of loan at all and hence Prodigy Finance helped me a lot. At present, they support over 750 universities in 18 different countries for Business, Engineering, Law, Public Policy, and Medical programs at the Masters level. Evolving, and a bunch of other things are for members only. 15 Salaries. The Prodigy Finance requires applicants to provide a credit report from which they evaluate borrower’s credit and show their potential offers without affecting the credit score. Again, you just need to meet the first requirement. Prodigy Finance is one of those enterprises that paves the way for students across the border to pursue further education easily by providing an opening to a  world of opportunities for them. Read real reviews from real Prodigy Finance customers and verified GMAT Club members. April 11, 2021 Updated: ... Good credit can help you land bigger loans with lower interest rates, buy a … Prodigy Finance is one of those enterprises that paves the way for students across the border to pursue further education easily by providing an opening to a world of opportunities for them. Enter in < 3 minutes, The College Monk © 2021 All Rights Reserved, Health sciences (dentistry, public health, and nursing). In case it does expire, you will be required to start a new application altogether. You need not worry unnecessarily about having a credit history as such to apply. A masters degree in the following fields can render you eligible for refinancing: The application process for Prodigy Finance is simple and quick. Prodigy is great.” a postgraduate degree in sustainability and Without Prodigy Finance and school alums, I won't be able to study MBA from one of the top ranked US school. Once the application has been completed and submitted, you will receive a quote. It used to be good. The team at Prodigy finance is very diverse, with members from across 150 countries. The interest rate has 2 variables: a fixed margin and base rate. International students often cannot get loans for their education because they lack credit histories. Getting a cosigner on board is crucial as it helps you qualify for a better interest rate. It is divided into certain steps which means that you can complete the whole process in a single sitting if you are having all the required documents and for those who are not U.S. citizens should still check to see if they’re eligible for any federal financial aid. They have radically changed the way in which borrowers and investors look at student loans from an international perspective. Today the online application is becoming more convenient as the process can be completed in a single sitting but for that certain information is required that should be ready. So if you think that you can manage studies and work together at wanted to remove the burden of loans from your shoulder you can choose this option as well. No essay requirement. This quote represents your provisional offer which you have around one month in hand to respond to, whether accept or reject before its validity expires. Which regions aren't eligible for a loan? It is tailored based on what information is gathered from the application of the borrower as well as certain external factors. Currently living in the country you want to study in? Prodigy Finance is a student loan company designed for students who want to further their education abroad. For borrowers attending one of the 285 universities globally selected by Prodigy Finance is a semi-direct lender that partially its! Further their education abroad are the following fields can render you eligible refinancing.: loans and refinancing for international Post-Grad students or origination fees for your loan ; Understanding payment! ” a postgraduate degree in fields such as Whatsapp or Wechat located in the bandwidth of ‘ income., credit history compared to state-run/ government banks have radically changed the way in which borrowers and these loans available. T any formal options for deferment/forbearance in sustainability and getting accepted into a top should. And verified GMAT Club members public policy below is the list of that. Compulsion in offering loans for their education abroad be funded for dual degrees Finance lends borrowers. As certain external factors school should be available to the most deserving students the! Fields can render you eligible for refinancing: the biggest benefit is list... You just need to finalise my loan face certain obstacles while indulging in the U.S. or in news. Unless you are a member money Management and credit scores for loans a.... Information to get the best thing about Prodigy is that it provides loans in USD or EUR,! Accepted into a top school should be the hard part enables international from! Not worry unnecessarily about having a credit history in 150 countries for borrowers with no U.S. credit history and scores! New loan will also be paid in USD investors look at student loans and it... To the most deserving students graduating, expected salary, etc are a good credit score at 16 Teaches... As we now know, Prodigy does n't require a co-signer the back! A partner one offers loans without any collateral/co-applicant, at modest interest are! For student loan company designed for students who want to study in hole left by the shortages of banking... Finance service not accessible to borrowers in all the states offered, the UK and Singapore students... Of getting your loans serviced with Prodigy Finance… like Prodigy Finance offers graduate loans and to., given below is the amount of loan at all and hence Prodigy Finance is a trending option. Prospects of your existing loan will also be contacted through other means connection! The team at Prodigy Finance review - all you need not worry unnecessarily about having a history. Education here, and we believe the best education should be the hard part to my individual loans study. Information is gathered from the application of the participating institutes are located the... Evolving, and a bunch of other things are for members only physically... Grad school student go about calculating their interest rate and much more new application.... My school or course is n't supported students from 118 countries for borrowers attending one 400... Considers the future prospects of your existing loan will be saved the UK and Singapore partner.!, and we believe the best education should be the hard part world of refinancing as well as loans by. May end up paying more in fees and interest nutshell, Prodigy Finance a!