Get your Prodigy Finance education loan without offering any collateral or co-signer. A Prodigy Finance education loan allows you to study at 800+ universities around the world.
UniCreds recognises that obtaining an education loan for international study can be a time-consuming and unpleasant process. Those who do not have any collateral or guarantor to back up their application are especially vulnerable. UniCreds has teamed with Prodigy Finance Education Loan to assist such students in making their goals a reality.
Established in 2007, Prodigy Finance is based in the United Kingdom. A financial organisation that has altered the education loan method while preserving the best level of service. They help the students, on the basis of their academic background, receive study abroad education loans without any collateral or co-applicant. UniCreds is the best place to contact if you're interested in joining this Prodigy Finance-funded cohort of overseas students.
Features Of Prodigy Abroad Education Loan
| Sr. No | Features | Education Loan Details |
|---|---|---|
| 1 | Loan amount | Minimum loan amount - $15,000 Maximum loan amount - 100% of total cost of attendance |
| 2 | Margin money | Nil |
| 3 | Processing fee | 5.0% onwards |
| 4 | Processing time | 30 Working Days |
| 5 | Loan tenure | 20 Years (7, 10, 15 or 20 years) |
| 6 | Prepayment charges | Nil |
| 7 | Repayment holiday | Starts after 6 months of course completion. No repayment during the moratorium period. |
| 8 | Countries covered | USA, UK, Canada, France, Germany and Australia |
Benefits of Prodigy Abroad Education Loan
No Need Of A Co-Applicant
Money With No Margin
A Quick Loan Process
Period Of Repayment
Benefits Of Getting Your Prodigy Abroad Education Loan Through UniCreds
Higher Chance Of Approval
Online Service
No Cost To You
Collateral Free Loans
Free Loan Assistance
Calculate EMI for Education Loan
Loan Amount
Interest (p.a)
Loan Duration
Course Duration
Grace Period
Monthly EMI
Principal Amount
Total Interest
Total Amount
Loan Amortization Schedule
Following table show the year wise payment schedule.
| Month | Opening Balance (₹) | Interest Paid (₹) | Principal Repaid (₹) | Closing Balance (₹) |
|---|---|---|---|---|
Month 1 | Opening Balance (₹) | Interest Paid (₹) | Principal Repaid (₹) | Closing Balance (₹) |
Month 2 | Opening Balance (₹) | Interest Paid (₹) | Principal Repaid (₹) | Closing Balance (₹) |
Month 3 | Opening Balance (₹) | Interest Paid (₹) | Principal Repaid (₹) | Closing Balance (₹) |
Month 4 | Opening Balance (₹) | Interest Paid (₹) | Principal Repaid (₹) | Closing Balance (₹) |
Month 5 | Opening Balance (₹) | Interest Paid (₹) | Principal Repaid (₹) | Closing Balance (₹) |
Eligibility Criteria For Prodigy Abroad Education Loan
You must plan to attend a school and course it supports. At present, Prodigy Finance funds over 900 schools worldwide, but its services are limited to the professions of business, public policy, law, medicine, science, technology, engineering and math (STEM). You've got to prepare to study overseas. In a different country from where you live, you must prepare to attend school. However, you will not be eligible if you have been living in the country you choose to study in for less than a year before you apply. You're from one of the 150 countries funded by Prodigy Finance. There are several countries, regions, and states of the United States and Canada under which the company is unable to lend.
| Sr. No | Type | Requirement |
|---|---|---|
| 1 | Eligibility | 1. You must prepare to study in a foreign country. You must prepare to attend school in a country other than your own. If you have lived in the nation you want to study in for less than a year before applying, you will not be eligible. 2. You're from one of Prodigy Finance's 150 funded nations. The company is unable to lend in a number of countries, regions, and states in the United States and Canada. |
Documents Required for Prodigy Abroad Education Loan
| Sr. No | Type | Documents Required |
|---|---|---|
| 1 | Documents Required | 1. Identification documents such as a passport, driver's licence, or another government-issued identification document. 2. Address evidence, such as a water bill, an energy bill, bank paperwork, or a lease agreement. 3. Proof of acceptance: Any communication from your university confirming your acceptance into your programme. 4. Credit Report 5. Income Verification (if applicable). 6. Evidence of Savings (if applicable). 7. Proof of Scholarships or Sponsorship from a Company (if applicable). |
Loan Repayment For Prodigy
After completing the course for 6 months, the repayment programme will begin. There will be no repayment during the moratorium period. The repayment period is either 7, 10, 15, or 20 years. There is no prepayment penalty when imposed on Prodigy Education loan.
How To Apply For Prodigy Abroad Education Loan?
Step 1: Contact UniCreds and inform our education loan adviser of your intent to begin the procedure, or apply straight online.
Step 2: UniCreds will provide you your Prodigy account login information and a link to log in to your account within 6 business hours. Follow the on-screen directions to fill out your personal and academic information, upload your documents, and submit your application once you've logged in.
Step 3: It only takes a few minutes to validate your information and papers after you've submitted your application. A conditional loan confirmation message will appear on your dashboard if everything is in order. You'll also receive an email with your loan approval letter, which you can use to apply for a student visa.
Step 4: Once the prodigy loan has been approved and the online education loan agreement has been signed, all of your cash will be sent to your university as needed.