Prodigy Finance Education Loan
Interest Rate
Begins from 10.05%
Processing Fees
5% of the loan amount
Financing
100%
Our Education Loans are trusted by
10 Lakh
Students
10+
Countries
5000+
Institutes
How to Get Approved for a Prodigy Finance Education Loan?
Confirm Eligibility
Before applying for a student loan, check the eligibility criteria. Confirm and ensure your eligibility for the loan.
Speak to Loan Experts
Reach out to us and talk to a loan counsellor for a better understanding of the whole application and approval process.
Application Process
Next, fill out the application form and attach the documents. Remember to review everything before the final submission.
Get Approved
After everything is carefully evaluated, your Prodigy education loan application will be sanctioned.
Prodigy Finance Education Loan Information
Perks
Details
Loan Amount
$15,000 to 100% of total cost of attendance
Interest Rate
10.05% per annum
Processing Charges
5% of the loan amount
Margin
5.6% fixed margin
Processing Time
7-10 days
Repayment Tenure
7 to 20 years
Part Payment Option
Allowed
Moratorium Tenure
Course duration+1 year
Eligibility Criteria for Prodigy Finance Student Loan
- Applicants must prepare to pursue higher studies at a university located in a different country other than their home country.
- Applicants should pursue a master’s degree, as Prodigy Finance does not offer loans for bachelor's degree courses.
- Students should pursue STEM course programs, as the Prodigy education loan is limited to business, public policy, law, health, science, technology, engineering, and math.
Repayment Terms of Prodigy Student Loan
- The repayment tenure of education loans offered by Prodigy Finance ranges from 7 to 20 years. During your course duration and for an extra 6 months after, you get a moratorium period, during which you do not need to make any payments.
- The Prodigy education loan continues to accrue interest during the grace period, so you can begin paying the interest earlier if you want. No penalties are imposed if you repay the loan earlier. Even if you repay the loan after the grace period, there are no penalties.
- After the moratorium period, you need to repay the loan in the same currency as that of the loan sum.
Financial Aspects of Prodigy Finance Education Loan
- After completing your master’s degree in the STEM program and getting a job, you can begin repaying your study loan.
- Your parents’, guardians, or co-applicants’ earnings are considered for the Prodigy education loan. This is to assess your and your co-applicant's credit ability and repayment capacity.
Academic Qualifications for Prodigy Finance Education Loan
- Prodigy Finance offers study loans to candidates seeking postgraduate education overseas. Applicants must have completed their undergraduate course in their home country.
- As an applicant, you need to complete a school and undergraduate course from an institute in your home country to be eligible for a Prodigy education loan.
- You also need to qualify for ILETS, TOFL, and postgraduate entry exams.
- Pursue a master's degree in a prestigious university abroad.
Our free tools will help you out
EMI Calculator
EMI Calculator
Documents Required for Prodigy Finance Education Loan
- Proof of Identity: PAN, Passport, Driver’s License, Passport, or Voter ID Card.
- Education loan application form.
- Proof of Address: Copies of utility bills such as telephone, electricity, water, piped gas, driving license, ration card, or Aadhaar card.
- Past academic records such as graduate result (semester-wise), scorecard of SSC and HSC
- Entry exam results of ILETS, TOFL and postgraduate entry exams
- Letter of Admission
- Statement of Purpose
- 1 year loan account statement
- Statement of expenses (if applicable)
- Proof of Identity: PAN, Passport, Driving License, Aadhaar Card, or Voter ID card.
- Proof of Address: Copies of utility bills such as telephone, electricity, water, piped gas, driving license, ration card, or Aadhaar card.
- Legal collateral or property documents
- Bank account statement for the past 6 months.
- For previous loans, loan account statement of 1 year
- Salary slips for the past 3 months.
- Copy of Form 16 from the previous 2 years.
- Bank account statement for the preceding 6 months (salary account).
- A brief statement of the parent, guardian, and co-applicant's assets and liabilities
- Proof of Business address.
- Past 2 years ITR.
- TDS certificate (Form 16A, if applicable)
- Qualification certification (for C.A., doctors, and other professionals).
- A brief statement of assets and liabilities of parents, guardians, or co-applicants
- Bank account statement for the past 6 months.
Reasons to Choose Education Loans
Less Financial Burden
Education loans reduce financial burden. It covers the whole education cost and also covers living expenses. The monthly payments are affordable, thereby decreasing stress on personal finances.
Low Interest Rates
Study loans like Prodigy education loan come with low interest rates. This makes it a cost-effective tool to finance your higher studies because you pay low interest during the loan tenure.
Easy Repayment
Education loans provide easy repayment. You can repay the loan after you get a job post-course completion. You can pay the interest during your course duration, but that’s completely your choice.
Why Select Prodigy Finance Education Loan?
Prodigy Finance offers flexible study loans to assist you in financing your higher education overseas. The NBFC assesses your loan application depending on your earning potential in the future without needing any collateral or co-applicant.
Based on your course program and what you select, the NBFC will provide 100% financing. You will get the funds for your Prodigy education loan directly into your bank account.
Prodigy Finance offers study loans with simple interest so you can save money while repaying the loan.
Prodigy Finance Education Loan Application Process Via Qck Loans
Below is a quick breakdown of how you can apply for a student loan from Prodigy Finance through Qck Loans:
Step1
- Apply Online
Go to Qck Loans official portal, navigate to the application form, attach relevant documents, and fill it out.
Step 2
- Check Your Application
Step 3
- Assessment of Your Application
Step 4
- Get the Loan
Akash HD
TU Munich, Germany
Kishan
UNSW, Australia
“Heartfelt thanks to Qck Loans for facilitating a Rs 55,00,000 non-collateral loan for my studies at UNSW, Australia. Their guidance in covering tuition and living expenses was invaluable. Qck Loans made my dream of studying abroad achievable and stress-free with their expert Education Loans to Study Abroad. Their dedication has been a cornerstone in my educational journey.”
Ananya
EPITA, France
“I am deeply grateful to Qck Loans for their invaluable support in securing a 20,00,000 loan for my studies at EPITA, France. Their guidance and efficient processing made what seemed a daunting task, both manageable and straightforward. Their team’s dedication and understanding of my educational goals were instrumental in making my dream a reality. Thanks to Qck Loans and their expertise in providing quick Education Loans to Study Abroad, I am now poised to embark on a transformative educational journey.”
Varuna
University of Twente, Netherlands
Sahana
Arizona State University, USA
I am very grateful to Qck Loans for having approved and assisting me in getting my 60,00,000 collateral education loan to study abroad at Arizona State University, USA. With exceptional services and seamless processing helped me to allocate the amount easily amongst my expenses. It is many girls’ wish to live the American dream, and it was possible by partnering with Qck Loans made it possible for me to get a quick loan for my studies abroad.
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