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Education loans without collateral for international MBA: Prodigy Finance

Editor’s note: Each season we help many Indian (and a few international) applicants crack into the best universities in the world. But not everyone is able to attend those programs. This year we saw 2 such cases where the international applicants (from the UK and Africa) got into good programs, but lost the opportunity to join due to funding issues.

Two years back, we had an impressive Indian applicant settled abroad who got into INSEAD. She had very little time to arrange for the funding, and couldn’t attend. She applied argain this year and got in (here’s the story of how she got into INSEAD twice). She graduated this year and joined one of the top top management consulting firms. All ends well for her.

However, the fact remains – studying abroad comes with a lot of challenges. After getting an admit from a top university, the next big hurdle is getting a student loan. Most Indian and international students underestimate the complexity involved and assume things will fall in place automatically.

Our INSEAD friend had mentioned about Prodigy Finance. They offered an interesting alternative to the education loans given by Indian banks. Prodigy’s USP is that they offer education loans to Indian applicants for postgraduate study abroad, without any collateral requirements.

After hearing about them from some other folks as well, we thought apart from the Admission committees that we’ve featured on our site, it might be helpful to invite another team that’s equally important in the international student’s journey.

Sameer Kamat | Founder, MBA Crystal Ball

Education loans for international MBA: Prodigy Finance FAQ

Education loans for MBA MS in USAIn this Q&A post with Chloë Foden, Chief of Staff at Prodigy Finance, we’ll find out more about what they do, how they do it and what Indian and international students can do to get their loans approved in time.

The Prodigy Finance FAQ page on the official site has answered many student questions. For the sake of completeness and convenience, we include some of those and add a few more relevant ones.

Education loans from Traditional Banks vs Prodigy Finance

MBA Crystal Ball: Compared to traditional loans by banks, Prodigy’s community finance model is pretty innovative and seems to have overlaps with the microfinance lending model (i.e relying on social pressure to avoid default). Can you please explain how that works?

Chloë Foden: Prodigy Finance is not a bank and we don’t want to be. We offer community-funded loans to international postgraduate students attending top business schools (as well as STEM, law, and public policy programmes). The loans are funded by a combination of alumni investors, high net worth individuals, universities, and institutional investors who have an interest in higher education. In many cases (83 percent), Prodigy Finance provides funding to students who would otherwise not afford their postgraduate degree.

The funds are disbursed directly to universities. After the study and grace periods (dependent on the specific school and course), students begin repayment and students’ repayment status becomes visible to investors.

Why does this work?

Banks cannot price foreign risk nor enforce repayment across borders. Traditional lending models only assess historical indicators (e.g. past salary or current assets), ignoring likely salary increases after business school. It’s a win-win for the parties involved:

  • Investors – support students at their alma mater
 (or another school) and earn up to 6% p.a.
  • Schools – obtain the best students (regardless of financial need) and increase diversity.
  • Students – receive funding for business school and connect with the alumni community.

MBA Crystal Ball: Indian banks have limits on student loans that generally fall short of the financing requirements for studying abroad. Does Prodigy finance have such limits?

Chloë: The amount that a student can borrow varies depending on the cost of tuition for the programme he or she attends. In some cases, loan maximums are set at the cost of tuition (living and related expenses aren’t covered). At many American business schools, loans can reach up to 80 percent of the Cost of Attendance (CoA). A few of the STEM/business crossover programmes have a maximum that reaches the university-provided CoA.

Of course, the final amount also depends on the profile of individual applicants.
MBA Crystal Ball: What kind of programs do you cover and exclude? Apart from the MBA loan, does the loan cover the cost of living as well?

Chloë: The largest segment of Prodigy Finance’s lending portfolio consists of MBA and Executive MBA (EMBA) students. While this is where the company started, it soon expanded to include additional post-graduate business programmes, such as Masters in Finance and Masters in Management degrees.

Over the years, the business model expanded to include engineering, law, and public policy programmes. Recently, a number of STEM courses have been added to our portfolio which enables funding for business and engineering crossover programmes, such as information systems and operations research.

The loan amounts Prodigy Finance can extend vary between schools and programmes. Though some universities (most commonly found with the European business schools) have caps at 100 percent of tuition, the funds are disbursed directly to the school and can be used according to the arrangements made between students and the university.

Some schools allow Prodigy Finance loans that cover as much as 80 percent or 90 percent of the CoA provided by the universities. As every school has specific terms, it’s important to check the Prodigy Finance loan page for programme a student wants to consider.

We currently support well over 200 schools and are constantly adding new ones to the list, so it’s worth checking again – even if a student recently viewed the complete list. And, if student is interested in a specific programme, he or she should send an email to us to inquire about the possibilities for loan products in the near future.

In addition, we’ve recently launched a refinancing option for international students who previously accepted an educational loan from an American credit provider to attend one of our supported programmes in the US. For graduates, this not only reduces the interest rate on existing loans, but also allows them to release their American co-signer.

Prodigy Finance Interest rate

MBA Crystal Ball: The interest rate in India for education loans is quite high. How does it work with Prodigy loans for Indian (and international) students?

Chloë: Prodigy Finance will always try to provide as competitive a rate as possible and should be lower than rates available in India for international postgraduate study.

Various factors are considered in calculating the interest rate; these relate to both the applicant and the quality of bureau information as well as, the course and school of choice, affordability, and other market rates.

Prodigy Finance applicants receive interest rates above a variable base rate. The variable base (Euribor, Libor or US Libor, which are the interbank lending rates in Europe, UK, and the US) is dependent on the currency (Euro, Pound Sterling or US Dollar) of the school loan.

Representative example of how this could look for a €40,000 loan for a MBA at INSEAD:

Loan size: €40,000

Interest rate: 7.00% over 3-month EURIBOR (Libor varies over the duration of the loan. As of October 8, 2017 it is 0.00%)

Representative APR: 7.87% variable APR, factoring in all fees and the effects of interest.

Fees: Administrative fee of 2.5%, or €1000. This fee will be added to the total loan amount and fully amortised for a total credit of €41,000

Duration: Repayment period of 7 years, plus the study period of 12 months and a grace period of 6 months = 102 months.

Total amount payable: €56,821

Amount of each monthly repayment: €676.44

MBA Crystal Ball: This is unusual for Indian students who are more accustomed to fixed rate student loans from Indian banks. Doesn’t the fluctuation add uncertainty?

Chloë: While this may be unusual in India, it’s actually a standard in other parts of the world – and the model offers a number of benefits for borrowers. One of the most important occurs when base (LIBOR) rates drop; borrowers immediately gain from lowered monthly payments during this time. In addition, transparency of the standard measurement such as Euribor, US and UK Libor rates are easily communicated.

There is another benefit which is especially useful for international students that hope to spend a few additional years in their host country to gain work experience and repay their loan. Because Prodigy Finance doesn’t work with fixed monthly instalments – and there is no penalty for early repayment – borrowers have an opportunity to repay their loan faster than the initially-agreed terms which can significantly reduce the total amount paid.

Student loan approval process

MBA Crystal Ball: Are there any key similarities or differences in the modus operandi between how Prodigy’s credit committee evaluates student applications vis-a-vis Admission Committees of universities?

Chloë: The focus of the loan application to Prodigy Finance is affordability and credit worthiness; there are a number of factors used in this assessment, such as employment, salary, GMAT (or GRE) score and more. We also require a credit bureau report to check for any significant payment or default issues.

Conversely, universities tend to focus on a larger scope when assessing a candidate, ranging from test scores and industry experience to demographics.
MBA Crystal Ball: Prodigy’s predictive model relies on the future earning potential of the student. Most applicants (specially MBA students) are hoping to change careers after graduating. Keeping that uncertainty in mind, what specific parameters does your credit committee take into consideration while making a decision?

Chloë: We consider a number of factors within our credit risk assessment model, which develops future earning potential overlayed with a firm, but supportive credit policy to determine affordability.

In order to manage the risk, we constantly update and refine the parameters and weighting of our criteria.This is done by using real data and then measured against a host of statistical tests As our list of supported universities grows alongside the rapidly increasing number of borrowers across fields, we gain more of the data we need to fine-tune our risk assessments.
MBA Crystal Ball: What’s the percentage of borrowers, in the client pie chart, from emerging markets? What are the typical reasons for rejecting applications?

Chloë: Emerging market borrowers make up 80% percent of our portfolio. The number of borrowers from these economies is steadily growing, along with the diversity of countries we’ve accommodated over the years. At the moment, we’ve provided loans to more 131 nationalities. We don’t subscribe to generalist thinking though – even within countries there is an amazing diversity of issues to consider beginning with age, residence, education, mobility, and moving forward into loans.

We decline applications in a relatively low number of cases – after all, they’ve already done a lot of the hard work by getting into a top global university. When it happens, the issue tends to fall into one of two categories: an applicant is over-leveraged (they have too much debt already), or affordability (a significant budget shortfall has been identified). In a very small number of cases, a credit report indicates a poor repayment history in which case we investigate further.
MBA Crystal Ball: With your impressive repayment track record, it appears that you’ve been able to evaluate the candidate’s placement potential better than many Bschools. Any tips that you might want to share with Admission Committees across the world and with international applicants to maximize their chances of getting a good, high-paying job after graduation?

Chloë: To date, we’ve not written off a loan; our repayments are as good as they are because the right candidates attend the right universities and business schools. Admissions committees do an outstanding job of selecting great candidates for their programmes. We’re lucky to be able to leverage their work, using their expectations as our first filter. It’s part of the dynamic relationship we aim for; their success in candidate selection makes it easier to be successful ourselves.

We value communication and strive to work with each school, and their individual candidates, to find a way forward whilst adhering to our responsible lending criteria as agreed with our investment community.

Communication and constructive feedback are two important elements for any applicant (and, for that matter, anyone)to consider and incorporate when planning for the future. Learn from your experience and apply and share that knowledge through every step of the application, education, and career-selection process.

Learn more about education loans from Prodigy Finance.
Bio: Chloë Foden is the Chief of Staff at Prodigy Finance and joined the company in September 2014. Chloë is particularly interested in driving social value and community building, and looks to grow Prodigy Finance into the leading global option for international student loans.

Apart from the general reviews about Prodigy Finance that are available on the internet, the team to shared this review by an Indian student who has taken education loans from Prodigy Finance.

Also, get in touch with folks that you might know (friends of friends who can share their real experience) who’ve gone through the loan approval process to find out whether this option will work for you.

If you have questions for the Prodigy Finance team, post them in the comments section below.
NOTE: We are no longer accepting comments on this post. Instead, please post your comments on the latest post by Prodigy Finance –> here.

This sponsored post is part of CrystalConnect, an outreach initiative by MBA Crystal Ball.

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Prodigy Finance
About Prodigy Finance
Prodigy Finance is the pioneer of community-based student financing. To date, the company has funded students from 115 countries with repayment rates in excess of 99%.

63 thoughts on “Education loans without collateral for international MBA: Prodigy Finance”

  1. Hi,

    I want to know if prodigy can give pre-approval for students who have not applied to any MBA course.

    I am planning to apply in round three to some MBA colleges abroad. I don’t want to run after banks after getting an admit as time will be very less.

    Is it possible to apply for loan in parallel? What is the process?

    • Hi Vivek
      Thanks for your comment. Our current loan application process requires us to have proof of admission from the business school you will be attending, so unfortunately the answer to your question right now is ‘no’. However, this is great feedback for us about our application process, and it’s definitely a point that I will take back to the rest of the team for consideration in the future.

    • Hi Venkyc
      I’m afraid Prodigy Finance does not currently offer loans to students attending those two business schools. At the moment, we only have loan programmes set up for the business schools listed in the article. But I will certainly notify our Business Development team that someone has expressed interest in getting a loan to attend both ISB and IIM. Thanks!

    • Hi Vaibhav

      Unfortunately we do not yet have a loan programme with Alberta Business School, but we are looking to add it to our list of schools in the next year. I’m sorry we can’t help you with this right now. All the best.

  2. Hi Chloe.

    I have been admitted to a topmost UK school and this school is covered by Prodigy. But the rate of interest quoted by prodigy is extremely high as compared to what has been mentioned in the example. Could you help?

    Samriti Sood

  3. Hi Samriti

    Thanks for your question. Rates may differ depending on which school you’re attending. In addition, the rate an applicant is offered will depend on the individual’s application and is determined by a number of different factors, including the applicant’s total debt burden and projected affordability after study. There are a number of factors that are used in this assessment such as employment, salary, GMAT score and a few others which means that, as expiated, interest rates will vary across individuals.

  4. Hi Chloe

    Thank you for the sharig the insights.

    My question is – as an Indian, is it possible to take loan from two different sources i.e. Prodigy and an Indian bank / institutions.

    In case yes, would the ROI will be higher for Prodigy than the normal case (where only loan provider is Prodigy).

    I understand that currently, one can not take student loan from two different sources within India. Though I am currently not sure about the eligibility norms when one of the source is international i.e. Prodigy and other is local Indian financial institution
    – Would be greatful if someone can throw some light on this as well !

    Thank you !

  5. Hi Sumit

    It is possible for you to apply and/or accept loans from multiple sources, including Prodigy Finance. However, if the terms offered by the other bank or institution are unfavourable, this may affect your affordability and what you could qualify for with Prodigy Finance.

    But, you are most welcome to submit an application with us and include your planned budget with all sources of funding in the ‘additional information’ section of the application. That way, if you do have other sources of funding that are non-debt sources, we may be able to grant you a conditional offer.

    We can also get you in contact with our applications team directly should you wish to have a quick call to ask more detailed questions. Let me know. I hope this helps!

  6. Thank you Chloe for the insight.

    However, do prodigy offers loan for schools other than those mentioned on it’s website (for both US & Canada)?

  7. Hi Sumit

    We do not currently offer loans for any other schools that aren’t listed on our website. However, we are adding new schools on a regular basis, so I encourage you to check our website for the most up-to-date list

  8. hi chole,
    Can u provide loan without any bank guaranty and or see background of an candidate,I am from india , nor from a rich family.
    can u provide the real insight in full description

  9. Hi Sidhant

    We do provide loans without co-signers or guarantees. What we do require is for applicants to provide proof of admission into the selected programme. Once this has been verified we then require applicants to complete a detailed budget which will include current salary, assets, liabilities and could include submitting a credit report.

    Hope this clarifies this for you


  10. Hello Chloe,

    Great insights on financing an MBA. Really appreciated. My query is : Under what circumstances do you extend loans to cover living costs of the student who have been admitted into the designated program? Also, what is the maximum limit? If you could elaborate a little on this topic, it would be very helpful.

    Thanks in advance,


  11. Hi Arka

    Our loan products have been developed to primarily service tuition, however on a programme by programme basis (in conjunction with the investor and school agreement) we can extend the use of the loan for living costs.

    Each school’s financial aid office also has their own means to ensuring that students do not overcommit themselves with respect to financing, typically measured by stipulating that the loan amount is maximised as a % of cost of attendance or limiting the loan amount to tuition only. At the majority of the schools where we offer our loans there is a policy in place for returning funds that a student may have already paid as a deposit or upfront fees if this amount can be replaced by a Prodigy Finance loan. The amount that is refunded can then be used for living purposes.

  12. Hi Chole,
    Greetings !! I’ve secured EMBA admission in UCLA NUS and am looking for finance support. What is the max time in which loan can be offered ? Would it be possible to have the calculations in terms of INR rupees for this university like how much EMI per month and how much is eligible and from when I should pay ?
    Look forward your speedy response.
    Thanks & Regards

  13. Hi Mandeep

    We do not currently offer loans for any other schools that aren’t listed on our website. However, we are adding new schools on a regular basis, so I encourage you to check our website for the most up-to-date list

  14. Hi Kveg

    Congrats! For our EMBA offering I would encourage you to register on our website and complete the application. The application process can take between 5 days and 3 weeks depending on how quickly you are able to submit your documentation. The loan amount will be in USD but we do have local repayment channels. With EMBAs you will need to repay monthly whilst you study.

    Looking forward to having you join our community

  15. Hi Chloe,

    I am now in US but will be moving to India. I am planning to join my brother in his startup or volunteer for an NGO. So here is the question.

    1 . I do have a credit record in US but once in India I don’t know how will you get a comprehensive credit report.

    2. One of your requirement is to produce current pay slip. If I join the business or volunteer for an NGO I wont be having a formal pay slip arrangement (I will off course have my last 3 months pay slip). Will that affect my chance? I have a substantial savings of $42k . I will be applying to B-Schools with tuition fee not more than € 55k . No negative defaults / any sort of financial instability in US or in India.

    I understand the whole approval process is case to case basis. I also understand the advise given will be just a view point. But I really need to know these things before I make an informed decision.

    Best Regards

  16. Hi Chloe,

    I have an unconditional offer from Henley Business School, but I know I will not be able to raise such a huge amount. I read that you are not providing loans for Henley Business School. Can I hope against hope?

    • Hi Amit

      Apologies in the delay – Henley is still not on our schools list. Please check out our website for updates to the list

  17. Hi Chloe,
    I have one doubt will you please tell me some more detail about it.I am from a poor family.not enough assets,no current salary,poor family background despite all those thing will you still provide a loan to me for study in one of those university.

    • Hi Pawan

      I can assure you that we carefully review each application, and the individual dynamics, as long as the candidate is accepted into one of the top schools that we work with. We strive to be fair in our process and care about diversity and investing in future leaders. We are responsible lenders and will review an applicant’s post education affordability as part of our decision making criteria. I wish you all the best in your application process

  18. Hi Chloe
    Will it be wise to go for MBA in the US right out of a mediocre undergrad college… If yes is there any chance of qualifying for your loan without job experience provided I score in the higher ranges in GMAT???

    • Hi NS

      As long as you get accepted into one of the schools that we work with we will be able review your loan application. We do have students who have gone from undergrad straight to post grad courses so will use similar processes of assessment for your application

  19. it is possible to get a loan without collateral and co-borrower for study mba in top 50 business school of the world as per financial times especially in top us business school. as i live in india and i have no financial support except education loan without collateral. please reply soon

    • Hi Ibraheem. We do offer loans for the top 50 FT ranked business schools. We’ve recently added a number of schools that we offer loans for to our website – please check out where you can find more details about the specific school(s) you’re interested in.
      Our loans do not require any collateral or co-signer.

  20. Hi Chole
    Is that your loan has to be applied for at the begining of the MBA program? What if it’s a two years program and I want to apply for the loan from 2nd year, just half of the total tuition? Can I do that?
    For repayment, I just want to verify with you. If it’s a 10 years loan and I want to repay in the 3rd yr. So I only need to pay the interest for the first 3 yrs and remaining loan amount including the application fee? Any other interst or fee will occur?
    Thank you in advance.

    • Hi Danda – my name is Liz, I’m a colleague of Chloe’s. You may apply for a loan from us just for your 2nd year, and for just a portion of the tuition amount. However the minimum amount you can borrow will be either $10 000 or $15000, depending on which school you are attending.
      Should you wish to repay your loan early, you may do so without any penalties or fees. And yes, you will only be charged interest on whatever loan amount is outstanding.
      I hope this helps.

  21. Hi Chloe

    I don’t really have a question for you, just wanted to thank you for your support throughout. Funding an international MBA is a real bottleneck and a deal breaker for maximum Indian students with some amazing profiles. But a platform like Prodigy Finance gives a lot of hope to someone like me who is planning to build an international career because now I can focus a lot more on my profile, GMAT etc to get through a top B School. Once I get there, funding should not be a hassle.
    A big thank you to Sameer. You have been a real inspiration for the ones who dream to make it to top B schools by continuously feeding them with the right pedigree and trying to pave the way for their future.

    I will make sure I share this with as many people as I can so that they can use a platform like Prodigy Finance to achieve their dreams.


    • Thank you very much for the feedback Abhinav – it’s much appreciated, and we’re happy we can help students like yourself achieve your MBA dream!

  22. I am an MBA candidate who has started his own venture after some years of work experience. I have noticed that business schools’ admissions committees encourage entrepreneurship experience. Although returns from a new venture in the initial months is mostly less than the MBA candidate’s previous work-experience salary. I fall in the same category. How does Prodigy consider a loan applicant with this kind of profile?

    • Great question AK. Our model considers multiple sectors, including those of entrepreneurial background. Depending on the timing of your stint in a startup we may factor in your salary band prior to starting your own venture. In summary, we look at the current situation of the student (in addition to the projected earnings), including credit and bureau reports, and few other factors.

  23. Hi Chloe,

    How are you? I hope you are good. Chloe, I have got an admit from Rotman School of Management for the 2016 intake full time 2 year MBA program.

    However, while trying to apply for a loan, there is no option for select for MBA 2016 batch\intake.

    Can you please let me know how I should apply for the loan?

    Thank you.

  24. Does prodigy finance, needs persons assets to give loan? Only, letter of admission is quite enough?
    By the way after getting an admission letter, how long it will take to provide loan once applied for it?

    • Hi Amarnath – sorry for the delayed response! You do not need any collateral (or co-signer) to get a loan from Prodigy. Yes, you will need your proof of admission letter from the school. We will also ask you to fill out some basic information about your current salary, any debts you currently have, and a credit report. After you submit a loan application on our site (you can start the process here: it will take us about 5 business days (often less) to give you a conditional offer which includes your interest rate and loan amount. We will then ask you to upload supporting documents for the information you provided in your application (proof of salary, proof of address, your credit report, etc).
      I hope this helps!

  25. Does borrowing from Prodigy Finance require any kind of prior approval from RBI (Reserve Bank of India) for Indian Students ?

    • Hi there Sharma – sorry for taking a while to get back to you. No, we don’t require any prior approval from any other bank!

  26. Hi Liz & Chloe,

    I am Australian, who has just been accepted to a UK B-School that is covered by prodigy finance. I will be touching base with prodigy shortly however my background is pretty different to what you might be used to. Is acceptance into the program sufficient to receive prodigy finance. I do not have an undergraduate, nor do I have a “high” GMAT. Will providing colateral mitigate this in some way and allow for a lower interest rate? also where is the best place to check the current UK LIBOR?


    • Hi Andrew – my apologies for only seeing your comment now. Have you applied for a Prodigy loan yet? If you’d like to chat further about your application, please email media[at] and I’ll get you in touch with the right person.

  27. Hiee
    Can I know how to aaply for loan ..
    And is it possible to get loan for california state university or any other university outside from that list which is mentioned in the website..

    • Hi Akbar
      Sorry, but we do only offer loans for the schools and universities listed on our site. We have added a number of business schools and universities since December, in case you’d like to have another look? However California State isn’t one of them.

  28. Hi team Prodigy,

    I am from India and I maintain a good credit score right now but in the past I had couple of instances of delayed payments on my credit card. Will this affect my MBA education loan with you? How long you may look into the past to assess the credit report? I ask this since I had these delayed payments before few months.

    • Hi Maria
      As long as your credit is in good standing now this shouldn’t negatively impact on your loan application with us. However, our applications team will be able to help you with further and give more detailed information once you submit your application.

  29. Hi,

    Do we cover university of warwick and also wanted to know do we cover executive/ part time/ distance learning mba in UK. If yes, which universites ?


  30. Hi Chloe,

    How are you? I hope you are good. Chloe, I have got an admit from Amsterdam Business School, University of Amsterdam for the 2016 intake FT-1 Year MBA program.

    However, while trying to apply for a loan, there is no option for my B_school

    Can you please let me know how I should apply for the loan?

    Thank you.


    • Hi Sidharth – I’m a colleague of Chloe’s. I’m sorry for the delayed response, and also sorry that we don’t have good news for you – we unfortunately don’t offer loans for Amsterdam Business School so you won’t be able to apply with us.
      I hope you can find alternative sources to fund your degree!

  31. Hi,

    Got admit from Univ of Maryland (Smith School) for MS in Supply Chain Management. Does this program qualify for the loan process?

    • Hello Gajanan
      Sorry for the delayed response – we currently don’t offer funding for the MS in Supply Chain Management. However, we are adding new programmes all the time, and there is a possibility that we could offer funding for this degree since we already offer funding for the MBA programme. I will follow up with our Business Development team on this, and invite you to check back on our website in a few weeks to see if the programme has been added. Otherwise, feel free to email media[at] and I’ll put you in touch with the appropriate BD Manager.

  32. Hello,

    Is there any association your organization has with Rome Business School?



    • Hi Karan,

      Thank you for your interest in Prodigy Finance.

      Unfortunately we do not have a loan program in place with Rome Business School. If you’d like to take a look at the Schools we support, please check out the link below:

      Our aim is to support international students joining the top 100 schools in MS, MBA, LLM and MPP. We’re now speaking with many of these schools to build partnerships for the classes starting in 2017.

      If you’re planning to join a top 100 course in 2017 but don’t see it on the list, please reach out to your Financial Aid office to let them know about Prodigy. The impetus for these partnerships often comes from students like you.

      Kind regards,

  33. Hi Liz,
    First of all thanks a lot to SameerKamat & Liz for providing essential valuable information regarding lons.
    As I can see your website and the following thread, the cost of attendance of Rotman business school Toronto is 110000$ tuition+ 40000$ living expenses = 150000$ approx total for 2 year MBA programme.
    Now I am having 50000$ only for paying living expenses etc.can I get a loan for tuition fees 100000$ (@>90% of tuition. As it is mentioned on ur website Max loan amount is tuition fees minus aids& scholarships….
    Plz clear this doubt.
    $= Canadian dollar

    • Hi Abhilash,

      Thank you for your interest in Prodigy Finance.

      Prodigy Finance works closely with schools to offer education loans and in our relationship with University of Toronto, Rotman School of Management, offer education loans up to 100% of Tuition Fee deducted for Scholarships or other Financial Aid.

      If you do not have any other funding sources, we would be happy to accept your application for required 90% of Tuition Fee, and our Credit Committee will get back to you.

      Please find further details on the school here:

      Kind regards,

  34. I think all the talk about no collateral is just plain gibberish. I had the most harrowing experience personally. NO 1 they keep making accusations when there s no basis, they do not understand that the Indian market works differently, they ask for way too much paperwork, they ask for collateral in the form of saints and a statement from the person expressing financial support, so in a way its way more cumbersome than going to a bank and taking an educational loan in india, as that requires no collateral and is less painful

    • Hi Kalpana,

      At Prodigy Finance, students do not need to have collateral or a co-signer for an education loan.

      Students receive a provisional offer without any upfront fees or documents. However, the offer is dependent on admission to the school and programme, and the information shared in the application being correct. Once a student receives admission, they will need to upload scanned copies of their documents to confirm their application.

      We pride ourselves on being a responsible international lender, which is why we need all our borrowers to sufficiently verify their application. These documents are necessary to comply with responsible lending, Know Your Customer (KYC) and anti-money laundering regulations. This practice is consistent across the 150 nationalities we lend to and support.

      We wish you all the best for your future education endeavours!
      Rishabh Goel

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