HomeUSA MoneyProdigy Finance Pupil Loans Evaluation 2022 | USA Cash

Prodigy Finance Pupil Loans Evaluation 2022 | USA Cash

Discover the Finest Pupil Mortgage Refinance Lenders

Prodigy Finance makes a speciality of providing loans for postgraduate college students learning overseas. Loans can be found in 150 international locations for debtors attending considered one of 400 faculties. Prodigy Finance additionally presents scholar mortgage refinancing for worldwide graduates dwelling and dealing on any visa in the UK or eligible U.S. states who earned a grasp’s diploma at considered one of 285 eligible universities.

Within the U.S., Prodigy Finance loans should not accessible to college students in these states:

  • Alabama
  • Arizona
  • Arkansas
  • California
  • Delaware
  • Hawaii
  • Idaho
  • Indiana
  • Louisiana
  • Maine
  • Montana
  • Nevada
  • North Dakota
  • Oregon
  • Rhode Island
  • South Dakota
  • Vermont
  • Washington
  • Wyoming

In contrast to different non-public scholar mortgage lenders, Prodigy Finance does not have a uniform quantity eligible college students can borrow. As a substitute, taking part universities and packages set their very own phrases for acceptance of those loans. Some faculties or packages, for instance, might solely permit debtors to pay tuition prices with Prodigy Finance loans, whereas others permit debtors to pay the complete price of their training.

Rates of interest are based mostly on credit score historical past, debt-to-income ratio, earnings, potential earnings post-graduation and different monetary elements. Prodigy Finance makes use of the LIBOR charge as its base for setting APRs. Debtors might pay an administrative price of as much as 2.5 p.c for a mortgage; there is no prepayment penalty for early compensation.

To be eligible for a scholar mortgage from Prodigy Finance, you should be accepted to a taking part postgraduate program. At present, Prodigy Finance lends to debtors pursuing a graduate diploma in enterprise, engineering, regulation or public coverage. Debtors should stay in a rustic, area or state that Prodigy Finance helps and be attending a taking part faculty exterior their house nation. Whereas Prodigy Finance considers debt-to-income ratio, credit score historical past and credit score scores for loans, you do not essentially want a credit score historical past to use.

Except debtors are enrolled part-time, they’ve a grace interval that extends till six months after their class finish date. Prodigy Finance permits debtors to make funds whereas they’re nonetheless in class or in the course of the grace interval. There is no penalty for early compensation.

Prodigy Finance doesn’t have any outlined insurance policies for forbearance or mortgage discharge. As a substitute, the lender works with debtors on a case-by-case foundation to find out options once they’re unable to pay.

Prodigy Finance presents money-saving advantages to debtors, together with reductions on scholar housing and on worldwide cellphone plans. There are additionally two scholarship packages accessible, value $10,000 every. One is designed for basic worldwide college students whereas the opposite is earmarked for girls pursuing engineering levels.

Prodigy Finance is presently not rated with the Higher Enterprise Bureau, nor does it have a ranking on Trustpilot.

  • U.S. college students pursuing a graduate diploma abroad.
  • Worldwide graduate college students in enterprise, regulation, engineering or public coverage.
  • Working postgraduates who wish to refinance current scholar loans.

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