{"id":12507,"date":"2022-02-03T14:50:32","date_gmt":"2022-02-03T09:20:32","guid":{"rendered":"https:\/\/test-blog.unicreds.com\/blog\/?p=12507"},"modified":"2025-09-29T19:45:38","modified_gmt":"2025-09-29T14:15:38","slug":"prodigy-finance-education-loan","status":"publish","type":"post","link":"https:\/\/unicreds.com\/blog\/prodigy-finance-education-loan\/","title":{"rendered":"All About Prodigy Finance Education Loan Options"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_75 counter-flat ez-toc-counter ez-toc-custom ez-toc-container-direction\">\n<div class=\"ez-toc-title-container\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<span class=\"ez-toc-title-toggle\"><\/span><\/div>\n<nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/unicreds.com\/blog\/prodigy-finance-education-loan\/#Prodigy_Finance_Education_Loan_Features\" >Prodigy Finance Education Loan Features<\/a><\/li><li class='ez-toc-page-1'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/unicreds.com\/blog\/prodigy-finance-education-loan\/#Benefits_Of_A_Prodigy_Finance_Education_Loan\" >Benefits Of A Prodigy Finance Education Loan<\/a><\/li><li class='ez-toc-page-1'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/unicreds.com\/blog\/prodigy-finance-education-loan\/#Eligibility_Criteria_For_Prodigy_Finance_Education_Loan\" >Eligibility Criteria For Prodigy Finance Education Loan<\/a><\/li><li class='ez-toc-page-1'><a class=\"ez-toc-link ez-toc-heading-4\" href=\"https:\/\/unicreds.com\/blog\/prodigy-finance-education-loan\/#Documents_Required_For_Prodigy_Finance_Education_Loan\" >Documents Required For Prodigy Finance Education Loan&nbsp;<\/a><\/li><li class='ez-toc-page-1'><a class=\"ez-toc-link ez-toc-heading-5\" href=\"https:\/\/unicreds.com\/blog\/prodigy-finance-education-loan\/#Prodigy_Finance_Education_Loan_Application_Process\" >Prodigy Finance Education Loan Application Process<\/a><\/li><li class='ez-toc-page-1'><a class=\"ez-toc-link ez-toc-heading-6\" href=\"https:\/\/unicreds.com\/blog\/prodigy-finance-education-loan\/#Prodigy_Loan_Repayment_Options\" >Prodigy Loan Repayment Options<\/a><\/li><li class='ez-toc-page-1'><a class=\"ez-toc-link ez-toc-heading-7\" href=\"https:\/\/unicreds.com\/blog\/prodigy-finance-education-loan\/#Prodigy_Finance_Education_Loan_Vs_Other_NBFCs\" >Prodigy Finance Education Loan Vs. Other NBFCs&nbsp;<\/a><\/li><li class='ez-toc-page-1'><a class=\"ez-toc-link ez-toc-heading-8\" href=\"https:\/\/unicreds.com\/blog\/prodigy-finance-education-loan\/#FAQs\" >FAQs:<\/a><\/li><\/ul><\/nav><\/div>\n<div id=\"bsf_rt_marker\"><\/div>\n<p><p>Prodigy Finance is one of the best education loan providers for study abroad. Since its inception in 2007, the firm has assisted over 20,000 students in obtaining more than $1 billion in funding for their postgraduate degrees without the need for cosigners or collateral. Prodigy Finance focuses on borrowers\u2019 future earning potential rather than their credit or CIBIL scores to build a flexible application that qualifies a higher percentage of overseas students.&nbsp;<\/p>\n<p>&nbsp;<\/p><\/p>\n\n\n\n<figure class=\"wp-block-table\"><table><tbody><tr><td colspan=\"2\"><strong>Prodigy Finance Education Loan Overview<\/strong><\/td><\/tr><tr><td>Interest Rates<\/td><td>11.8%&nbsp;<\/td><\/tr><tr><td>Eligible Programmes<\/td><td>Business, Engineering, Law, Public Policy, Medicine, and more<\/td><\/tr><tr><td>Supported Institutions<\/td><td>Over 1200 schools globally<\/td><\/tr><tr><td>Collateral or Co-signer<\/td><td>No collateral or cosigner required<\/td><\/tr><tr><td>Eligibility Criteria<\/td><td>Based on academic merits and CIBIL score<\/td><\/tr><tr><td>Repayment Flexibility<\/td><td>Flexible repayment plans, typically starting after completion of studies<\/td><\/tr><tr><td>Application Process<\/td><td>Online application with a personalised quote based on the chosen course<\/td><\/tr><tr><td>Prepayment Penalties<\/td><td>Typically, no penalties for early repayment<\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n<p>&nbsp;<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Prodigy_Finance_Education_Loan_Features\"><\/span><strong>Prodigy Finance Education Loan Features<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>&nbsp;<\/p>\n\n\n\n<p>Unlike conventional lenders who rely heavily on credit history and many types of collateral, Prodigy Finance takes a forward-looking approach, assessing applicants based on their future earning potential and academic merit. The table given below states the key features like interest rates, processing fees and repayment terms of the <a href=\"https:\/\/unicreds.com\/partners\/prodigy-finance\" target=\"_blank\" rel=\"noreferrer noopener\">Prodigy Finance Education Loan<\/a>.&nbsp;<\/p>\n\n\n\n<figure class=\"wp-block-table\"><table><tbody><tr><td><strong>Parameters<\/strong><\/td><td><strong>Features&nbsp;<\/strong><\/td><\/tr><tr><td>Prodigy Finance Maximum Loan&nbsp;<\/td><td>100% cost of attendance<\/td><\/tr><tr><td>Prodigy Finance Rate of Interest<\/td><td>11.8%<\/td><\/tr><tr><td>Repayment Tenure<\/td><td>7-20 years<\/td><\/tr><tr><td>Moratorium Period<\/td><td>6 months post-course completion<\/td><\/tr><tr><td>Collateral Option<\/td><td>Not required<\/td><\/tr><tr><td>Processing Fees&nbsp;<\/td><td>NIL<\/td><\/tr><tr><td>Co-borrower option<\/td><td>Not required<\/td><\/tr><tr><td>Tax benefits<\/td><td>NA<\/td><\/tr><tr><td>Courses covered<\/td><td>Higher education in top-tier universities abroad<\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n<p><\/p>\n\n\n\n<p>Know About&nbsp;<a href=\"https:\/\/unicreds.com\/abroad-education-loan\" target=\"_blank\" rel=\"noreferrer noopener\">Abroad Education Loan<\/a><\/p>\n\n\n\n<p><\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Benefits_Of_A_Prodigy_Finance_Education_Loan\"><\/span><strong>Benefits Of A Prodigy Finance Education Loan<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>&nbsp;<\/p>\n\n\n\n<p>The advantages of an education loan at Prodigy Finance Education Loan are what makes it the best choice for students seeking education abroad. As mentioned earlier, Prodigy Finance aims to provide financial assistance to academically excellent students irrespective of their educational background. Following are some of the Prodigy Finance Education Loan benefits:&nbsp;<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>No Cosigner \u2013 <\/strong>A Prodigy Finance education loan is offered to fulfil the requirements of those who do not have a creditworthy cosigner.<\/li>\n\n\n\n<li><strong>No Collateral \u2013<\/strong> Many overseas student loan providers require property or a cash deposit as collateral. Prodigy Finance provides loans without collateral.<\/li>\n\n\n\n<li><strong>Simple Interest \u2013 <\/strong>One of the biggest reasons students have difficulty repaying their student loans is compound interest. Prodigy Finance employs a simple interest computation, which has the potential to save borrowers money.&nbsp;<\/li>\n<\/ul>\n\n\n\n<p>&nbsp;<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Eligibility_Criteria_For_Prodigy_Finance_Education_Loan\"><\/span><strong>Eligibility Criteria For Prodigy Finance Education Loan<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>&nbsp;<\/p>\n\n\n\n<p>It&#8217;s important to know what factors lenders look at when deciding on loan applications. This usually includes your academic performance, financial background, and your expected future earnings. Understanding the specific criteria of each lender helps you assess if you qualify and find the one most likely to support your plans for international education. Given below are the Prodigy Finance Terms and Conditions:&nbsp;<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>You must choose a university and a course that it accepts. Prodigy Finance presently serves over 750 institutions across the world, but its programmes are limited to those in the specific fields it supports.&nbsp;<\/li>\n\n\n\n<li>You must make arrangements to study abroad. You should check options to attend a university in a country other than your own. You may be qualified if you\u2019ve lived in the country you wish to study in for less than a year when you apply.<\/li>\n\n\n\n<li>You should also belong to one of the 120 countries supported by Prodigy Finance. It will not lend in a few areas, regions, and states in the United States and Canada.&nbsp;&nbsp;<\/li>\n<\/ul>\n\n\n\n<p>&nbsp;<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><strong>List Of Eligible Courses At Prodigy Finance Education Loan<\/strong><\/h3>\n\n\n\n<p>&nbsp;<\/p>\n\n\n\n<p>Lenders often assess the risk and potential return on investment when determining the courses and programmes they choose to support. Fields like business and engineering, for example, are often seen as having strong career prospects, making them more attractive to lenders. Following are the courses supported by Prodigy finance education loan:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>STEM (Science, Technology, Engineering, Mathematics)<\/li>\n\n\n\n<li>Business<\/li>\n\n\n\n<li>Public Policy<\/li>\n\n\n\n<li>Law<\/li>\n\n\n\n<li>Health Sciences<\/li>\n\n\n\n<li>Economics<\/li>\n<\/ul>\n\n\n\n<p>&nbsp;<\/p>\n\n\n\n<p>Along with the courses, Prodigy Finance supports only specific universities for taking an education loan. Prodigy Finance presently extends its support to more than 1200 schools worldwide, spanning disciplines such as Business, Engineering, Law, Public Policy, and Medicine.&nbsp;<\/p>\n\n\n\n<p>&nbsp;<\/p>\n\n\n\n<div style=\"text-align: center;\"><button style=\"background-color: #289048; color: white; border: none; padding: 10px 20px; border-radius: 5px; font-size: 18px; font-weight: bold;\"> <a style=\"text-decoration: none; color: white;\" href=\"https:\/\/unicreds.com\/abroad-education-loan?utm_source=uc-blog&amp;utm_medium=organic&amp;utm_campaign=apply-for-abroad-education-loan-button\" target=\"_blank\" rel=\"noopener\">Apply For Abroad Education Loan Now!<\/a> <\/button><\/div>\n\n\n\n<p>&nbsp;<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Documents_Required_For_Prodigy_Finance_Education_Loan\"><\/span><strong>Documents Required For Prodigy Finance Education Loan&nbsp;<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>&nbsp;<\/p>\n\n\n\n<p>All Prodigy Finance loans don&#8217;t necessitate collateral or a co-signer. Therefore, documentation related to these aspects, required by other education loans, is not needed. However, Prodigy Finance assesses loans based on academic merits and CIBIL scores, so documents related to these factors are necessary. The list below outlines the Prodigy Finance documents required from students:<\/p>\n\n\n\n<figure class=\"wp-block-table\"><table><tbody><tr><td><strong>Document<\/strong><\/td><td><strong>Description<\/strong><\/td><\/tr><tr><td>Proof of Admission<\/td><td>Confirmation of acceptance into the educational programme<\/td><\/tr><tr><td>Valid Passport<\/td><td>Copy of a valid passport for identity verification<\/td><\/tr><tr><td>Visa Documents<\/td><td>Relevant documents related to your student visa or passport<\/td><\/tr><tr><td>Cost of Attendance<\/td><td>Breakdown of the programme&#8217;s expenses (tuition, living, etc.)<\/td><\/tr><tr><td>Academic Transcripts<\/td><td>Records or transcripts from previous educational institutions<\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n<p>&nbsp;<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Prodigy_Finance_Education_Loan_Application_Process\"><\/span><strong>Prodigy Finance Education Loan Application Process<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>&nbsp;<\/p>\n\n\n\n<p>Prodigy Finance Education Loans are easy to apply. Given below is the step-by-step process of applying for Prodigy Finance Education loans:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>Step 1:<\/strong>&nbsp; Begin by creating an account on Prodigy Finance&#8217;s online portal.<\/li>\n<\/ul>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>Step 2:<\/strong> Apply for funding, providing details about your chosen academic course. Receive a customised quote based on your course and other relevant factors.<\/li>\n<\/ul>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>Step 3: <\/strong>Upload the necessary documents as per Prodigy Finance&#8217;s requirements. These may include proof of admission, a passport, visa documents, academic transcripts, and any other specified documents.<\/li>\n<\/ul>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>Step 4:<\/strong> Prodigy Finance matches your application for funds raised from investors. If your application is successfully matched, you will be notified to commit to the loan. Receive a loan sanction letter indicating the approved loan amount.<\/li>\n<\/ul>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>Step 5: <\/strong>Sign the loan agreement or education loan sanction letter digitally, completing the formalities for the loan disbursement.<\/li>\n<\/ul>\n\n\n\n<p>&nbsp;<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Prodigy_Loan_Repayment_Options\"><\/span><strong>Prodigy Loan Repayment Options<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>&nbsp;<\/p>\n\n\n\n<p>A Prodigy Finance education loan has no registration or prepayment penalties. Those who are enrolled full-time are not required to begin paying the amounts until six months after their programme ends. Part-time students must begin making payments three months after the loan has been awarded.<\/p>\n\n\n\n<p>There are no choices for total repayment while at university, but you can initiate payments because there are no penalties for paying early. You can make bulk payments up to the end of your grace period\u2014a payment that is more than three times your contractual instalment, after which Prodigy Finance will automatically re-amortise your loan, decreasing your monthly cost.<\/p>\n\n\n\n<p><\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Prodigy_Finance_Education_Loan_Vs_Other_NBFCs\"><\/span><strong>Prodigy Finance Education Loan Vs. Other NBFCs&nbsp;<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p><\/p>\n\n\n\n<p>No doubt Prodigy Finance stands out among Non-Banking Financial Companies (NBFCs) offering education loans, introducing a distinctive approach to funding international postgraduate studies. A comparison between Prodigy Finance and other NBFCs sheds light on the unique features, eligibility criteria, and application processes that distinguish Prodigy Finance in the competitive landscape of education financing.<\/p>\n\n\n\n<p><\/p>\n\n\n\n<figure class=\"wp-block-table\"><table><tbody><tr><td class=\"has-text-align-center\" data-align=\"center\"><strong>Key features<\/strong><\/td><td class=\"has-text-align-center\" data-align=\"center\"><strong><a href=\"https:\/\/unicreds.com\/partners\/credila-education-loan\" target=\"_blank\" rel=\"noreferrer noopener\">Credila<\/a><\/strong><\/td><td class=\"has-text-align-center\" data-align=\"center\"><strong>Prodigy Finance<\/strong><\/td><td class=\"has-text-align-center\" data-align=\"center\"><strong><a href=\"https:\/\/unicreds.com\/partners\/avanse\" target=\"_blank\" rel=\"noopener\">Avanse<\/a><\/strong><\/td><\/tr><tr><td class=\"has-text-align-center\" data-align=\"center\">Loan amount<\/td><td class=\"has-text-align-center\" data-align=\"center\">Rs. 1 lakh and above, no upper limit<\/td><td class=\"has-text-align-center\" data-align=\"center\">100% cost of attendance<\/td><td class=\"has-text-align-center\" data-align=\"center\">Covers 100% of your education<\/td><\/tr><tr><td class=\"has-text-align-center\" data-align=\"center\">Rate of Interest<\/td><td class=\"has-text-align-center\" data-align=\"center\">Floating rate of interest according to Credila\u2019s Benchmark Lending Rate<\/td><td class=\"has-text-align-center\" data-align=\"center\">11.8%<\/td><td class=\"has-text-align-center\" data-align=\"center\">10-13% for secured loans<\/td><\/tr><tr><td class=\"has-text-align-center\" data-align=\"center\">Repayment Tenure<\/td><td class=\"has-text-align-center\" data-align=\"center\">Max 12 years<\/td><td class=\"has-text-align-center\" data-align=\"center\">7-20 years<\/td><td class=\"has-text-align-center\" data-align=\"center\">10 years<\/td><\/tr><tr><td class=\"has-text-align-center\" data-align=\"center\">Moratorium Period<\/td><td class=\"has-text-align-center\" data-align=\"center\">Education course duration + grace period&nbsp;<\/td><td class=\"has-text-align-center\" data-align=\"center\">6 months post-course completion<\/td><td class=\"has-text-align-center\" data-align=\"center\">Course duration + 1 year<\/td><\/tr><tr><td class=\"has-text-align-center\" data-align=\"center\">Collateral Option<\/td><td class=\"has-text-align-center\" data-align=\"center\">Residential Flat, Residential House, Non-Agricultural Land, A Fixed Deposit, assigned in favour of Credila<\/td><td class=\"has-text-align-center\" data-align=\"center\">Not required<\/td><td class=\"has-text-align-center\" data-align=\"center\">Residential property, Bonds, FDs, etc.&nbsp;<\/td><\/tr><tr><td class=\"has-text-align-center\" data-align=\"center\">Processing Fees&nbsp;<\/td><td class=\"has-text-align-center\" data-align=\"center\">1-1.25% of the loan amount<\/td><td class=\"has-text-align-center\" data-align=\"center\">NIL<\/td><td class=\"has-text-align-center\" data-align=\"center\">1-2% of the loan amount.&nbsp;<\/td><\/tr><tr><td class=\"has-text-align-center\" data-align=\"center\">Co-borrower option<\/td><td class=\"has-text-align-center\" data-align=\"center\">Yes<\/td><td class=\"has-text-align-center\" data-align=\"center\">Not required<\/td><td class=\"has-text-align-center\" data-align=\"center\">Yes<\/td><\/tr><tr><td class=\"has-text-align-center\" data-align=\"center\">Tax benefits<\/td><td class=\"has-text-align-center\" data-align=\"center\">Section 80E<\/td><td class=\"has-text-align-center\" data-align=\"center\">NA<\/td><td class=\"has-text-align-center\" data-align=\"center\">Section 80E<\/td><\/tr><tr><td class=\"has-text-align-center\" data-align=\"center\">Courses covered<\/td><td class=\"has-text-align-center\" data-align=\"center\">Higher education in India, USA, and abroad<\/td><td class=\"has-text-align-center\" data-align=\"center\">Higher education in top-tier universities abroad<\/td><td class=\"has-text-align-center\" data-align=\"center\">Higher education in top-tier universities<\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n<p><\/p>\n\n\n\n<p>In conclusion, the Prodigy Finance education loan stands out as a great choice for international postgraduate students, offering unique benefits such as no need for collateral or co-signers, personalised loan terms, and a straightforward application process. When comparing it to other NBFCs, Prodigy Finance&#8217;s innovative approach to education funding is evident.<\/p>\n\n\n\n<p>For those seeking assistance in navigating the complexities of education financing, Unicreds is here to help. As a platform dedicated to connecting students with various loan options, including Prodigy Finance and other reputable lenders, Unicreds makes the search for the right financial solution much easier.&nbsp;<\/p>\n\n\n\n<div style=\"text-align: center;\"><button style=\"background-color: #289048; color: white; border: none; padding: 10px 20px; border-radius: 5px; font-size: 18px; font-weight: bold;\"> <a style=\"text-decoration: none; color: white;\" href=\"https:\/\/unicreds.com\/education-loan-eligibility?utm_source=uc-blog&amp;utm_medium=organic&amp;utm_campaign=eligibility-button\" target=\"_blank\" rel=\"noopener\">Check Your Eligibility<\/a> <\/button><\/div>\n\n\n\n<p>&nbsp;<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"FAQs\"><\/span><strong>FAQs:<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>&nbsp;<\/p>\n\n\n\n<p class=\"wp-block-heading\"><strong>Q1. How long does Prodigy take to approve a loan?<\/strong><\/p>\n\n\n\n<p><\/p>\n\n\n\n<p><strong>Ans<\/strong>: There is no requirement to submit the documents physically; instead, they can be conveniently submitted through the online process. After submitting all the necessary documents, a verification process will be initiated, which may take up to 7 days to complete. Once the verification is done, the borrower will receive a loan agreement via mail.<\/p>\n\n\n\n<p>&nbsp;<\/p>\n\n\n\n<p class=\"wp-block-heading\"><strong>Q2. How much loan can I get from Prodigy Finance?<\/strong><\/p>\n\n\n\n<p><\/p>\n\n\n\n<p><strong>Ans<\/strong>: Prodigy Finance offers loans for all programmes in the US, covering both tuition fees and living expenses. For STEM programmes outside of business departments, the maximum loan amount is equivalent to the full cost of attendance, encompassing both tuition and living expenses. However, for business schools, the maximum loan amount is 80% of the full cost of attendance.<\/p>\n\n\n\n<p>&nbsp;<\/p>\n\n\n\n<p class=\"wp-block-heading\"><strong>Q3. How long is the repayment period for the Prodigy loan?<\/strong><\/p>\n\n\n\n<p><\/p>\n\n\n\n<p><strong>Ans<\/strong>: For full-time students, the loan repayment period starts six months from the date of class completion. On the other hand, part-time students have a repayment period of three months from the date of the final disbursement.<\/p>\n\n\n\n<p>&nbsp;<\/p>\n\n\n\n<p class=\"wp-block-heading\"><strong>Q4. How do I increase my loan amount in Prodigy?<\/strong><\/p>\n\n\n\n<p><\/p>\n\n\n\n<p><strong>Ans<\/strong>: Interested individuals can indicate their desire to increase their loan amount by selecting the option \u201cShow me how\u201d and subsequently clicking on \u201cIncrease my offer.\u201d<\/p>\n\n\n\n<p>&nbsp;<\/p>\n\n\n\n<p class=\"wp-block-heading\"><strong>Q5. What is the processing fee for Prodigy?<\/strong><\/p>\n\n\n\n<p><\/p>\n\n\n\n<p><strong>Ans<\/strong>: Prodigy Finance charges a processing fee of 5% of the loan amount in USD. For instance, if the average loan amount for a programme in the US is INR 40 lakhs, the processing fee would amount to INR 2 lakhs.<\/p>\n\n\n\n<p>&nbsp;<\/p>\n\n\n\n<p class=\"wp-block-heading\"><strong>Q6 Does Prodigy Finance require a cosigner?\u00a0<\/strong><\/p>\n\n\n\n<p><\/p>\n\n\n\n<p><strong>Ans: <\/strong>No, Prodigy Finance doesn\u2019t require a co-signer, unlike other education loans.<\/p>\n\n\n\n<p>&nbsp;<\/p>\n\n\n\n<p class=\"wp-block-heading\"><strong>Q7 What is the APR of the Prodigy Finance Abroad Education Loan?<\/strong><\/p>\n\n\n\n<p><\/p>\n\n\n\n<p><strong>Ans: <\/strong>The APR on the Prodigy Finance education loan is 14.997%.<\/p>\n\n\n\n<p>&nbsp;<\/p>\n\n\n\n<p><script type=\"application\/ld+json\">\r\n{\r\n  \"@context\": \"https:\/\/schema.org\",\r\n  \"@type\": \"FAQPage\",\r\n  \"mainEntity\": [{\r\n    \"@type\": \"Question\",\r\n    \"name\": \"1. How long does Prodigy take to approve a loan?\",\r\n    \"acceptedAnswer\": {\r\n      \"@type\": \"Answer\",\r\n      \"text\": \"There is no requirement to submit the documents physically; instead, they can be conveniently submitted through the online process. After submitting all the necessary documents, a verification process will be initiated, which may take up to 7 days to complete. Once the verification is done, the borrower will receive a loan agreement via mail.\"\r\n    }\r\n  },{\r\n    \"@type\": \"Question\",\r\n    \"name\": \"2. How much loan can I get from Prodigy Finance?\",\r\n    \"acceptedAnswer\": {\r\n      \"@type\": \"Answer\",\r\n      \"text\": \"Prodigy Finance offers loans for all programmes in the US, covering both tuition fees and living expenses. For STEM programs outside of business departments, the maximum loan amount is equivalent to the full cost of attendance, encompassing both tuition and living expenses. 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Prodigy Finance focuses on borrowers\u2019 future earning potential rather than their [&hellip;]<\/p>\n","protected":false},"author":103,"featured_media":12509,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_et_pb_use_builder":"","_et_pb_old_content":"","_et_gb_content_width":"","footnotes":""},"categories":[2578],"tags":[],"class_list":["post-12507","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-student-loan"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v25.6 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>All About Prodigy Finance Education Loan Options - UniCreds Blog<\/title>\n<meta name=\"description\" content=\"Discover how Prodigy Finance loans work, their benefits, eligibility, and repayment terms. 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