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Prodigy Finance Review

Prodigy Finance is a unique lender for international master’s students that focuses on their future earning potential. This gives borrowers how may not have the best credit score or current financial situation a way to afford the cost of college.

Min. Credit Score
Min. Credit Score None
Loan Amounts
Loan Amount $1K up to the cost of attendance
Fixed APR
Loan Repayment 7-20 years
TJ Porter
Written by:TJ Porter
Personal Finance Writer

Prodigy Finance is a lender focused on international students who want to pursue a master’s degree. It offers loans with no co-signer and collateral with a quick and easy online application. It has funded $1 billion in loans across 850 different schools and 20,000 students.

If you’re looking for a low-cost master’s degree loan, this Prodigy Finance student loan review will tell you everything you need to know.

Summarized Rating

This parameter considers loan term lengths, loan limits, and loan structure optionality (fixed and variable rate offerings). For each loan type offered, each of these features was evaluated using the five-point scoring system. Then, the various scores were aggregated and averaged to establish an overall loan features score.

PRODIGY scores a subpar 3.0 for Loan Features. The lender offer highly flexible term lengths, but very limited loan structure optionality (fixed vs. variable).

Prodigy Finance Pros
Loans for international students
No co-signer needed
Pre-qualify and get rates with no hard credit pull
Payment deferred until graduation
Prodigy Finance Cons
Only available at select schools
No fixed interest rates
Only for graduate students
Only for specific courses of study

hat Types of Student Loans Does Prodigy Finance Offer?

Prodigy Finance only focuses on a single type of loan:

  • Student loans for graduate students

Graduate Student loans review

Prodigy Finance student loans are relatively unique, which may make them appealing to students.

Student loans Loan Features

Prodigy Finance’s student loans are relatively flexible. There are multiple payment schedules available based on the amount that you borrow. That lets you stretch your payments across a longer period to make them easier on your monthly budget.

However, you also have the option of paying the loans off ahead of schedule. This will save you money on interest and won’t incur any penalties.

Loan amounts vary with many factors, but you may be eligible to borrow as much as the full cost of attendance at your school.

Loan terms

Fixed plus a variable rate

Repayment period

7 to 20 years

Loan amount

Up to 100% of the cost of attendance

Loan Structure Flexibility

Yes, pay off early with no penalty

Student loans Interest Rates and Fees

Prodigy Finance interest rates are composed of a mix of fixed and variable interest rates.

Each loan comes with a fixed margin rate based on factors such as your course of study and where you go to school. This rate won’t change over the life of the loan. A variable rate based on the Secured Overnight Financing Rate, a benchmark interest rate is added to the fixed rate to determine your overall loan interest rate.

The variable portion of your loan rate changes, meaning your loan’s overall rate will change over time.

Prodigy Finance also charges a 5% administrative fee when you first receive the loan.

Borrowing/Origination Fees


Prepayment Fees


Late Payment Fees

$96 after two missed payments

Maintenance Fees


Fixed Rates

Blend of fixed and variable

Variable Rates

Blend of fixed and variable

Student loans Qualification Requirements

There are some unique requirements to get a loan from Prodigy Finance.

First, the lender only offers loans to international students looking to study outside of their home country. On top of that, it only offers loans at just over 850 schools in 18 countries.

You also must pursue a specific graduate degree, typically in a science or a subject like law or policy. Arts students are not eligible. Your quote for a loan will be based on where you study, the subject you’re studying, and your future earning potential.

What makes the lender unique is that unlike most other loans for international students, you don’t need a co-signer to qualify.

Institution Type & Course Load Requirements

Must attend supported school and study from a list of select subjects

Minimum Credit Score


Minimum Income


Maximum Debt-to-Income


Co-signer/Joint Application Requirements


Prodigy Finance Application Process

The first thing you have to do when applying for a loan from Prodigy Finance is create an account, which means providing an email address and password. Once you confirm your email, you’re ready to start the loan application.
prodigy finance
After creating the account, you'll need to provide information like:

  • Where you live and have lived recently.
  • Your citizenship information.
  • Where you want to study and what you plan to study.

Keep in mind that Prodigy only funds loans for students studying the sciences, economics, and select other subjects.

If you’re eligible, you’ll move on to the next steps, which include providing some personal information:

  • Your name and address
  • Your test results to determine the odds of being successful in a graduate program
  • Information about your finances and assets
  • Debts that you have, including the type of debt and the balance of those loans.
  • Details about your work history

If you’re already gotten an offer for a job after leaving your graduate program, that will be a huge help with securing better rates. Prodigy will want to know if you have an offer and get proof of that offer if you have it.

Next, Prodigy will give you a sample loan offer.

If you’ve earned scholarships or received other funding, it can impact how much Prodigy is permitted to lend to you. The lender also wants to know if you’ve already paid any amount to the school.

Before you can finalize everything, you’ll have to tell Prodigy about how you plan to pay your living expenses.

After a few final questions and confirmations, you’ll be able to get your full loan offer.

Prodigy Finance Customer Care

When you’re getting a loan, you want to make sure that the company you’re borrowing from has good customer support that’s easy to contact. That will make your life much simpler if you ever need help with your loan or need to reach out for support for any reason.

Prodigy Finance has multiple customer support lines with numbers for India, the UK, the US, Brazil, and the rest of the world. Assistance is available on weekdays from 2 AM to 6 PM Eastern time (6 AM to 10 PM GMT)

If you prefer to get support by email, you can also send a message to one of the company’s support addresses.

For self-service help, Prodigy Finance has an in-depth knowledge base and FAQ section where you can get answers to many questions without having to reach out to a representative.

The company also has received strong customer reviews for its support team, with one Trustpilot reviewer stating “they will encourage you always and support in every worst scenario”

Prodigy Finance Online Reviews

Before you settle on a lender, it’s a good idea to read some reviews of the service, just like this review. However, getting multiple opinions is important because it can help you identify issues or benefits that one reviewer may have overlooked.

Prodigy Finance reviews on other sites ar every strong, with an A++ rating from the Better Business Bureau and a 4 out of 5 on Trustpilot.

People seem to appreciate the fact that Prodigy Finance is more flexible than other lenders when it comes to things like co-signers and a need to show proof of income. They also like the simple online application and the speed and clarity of customer support.

According to other reviews, where Prodigy falls short is in the cost of its loans, which can be expensive. Reviewers also state that payment deadlines can feel unclear and seem to move, making it difficult to repay the loan properly.

The positive reviews are related to

The negative reviews are related to

Ease of application

High loan costs

Good customer support

Restricted to certain schools and programs

No need for a co-signer

Unclear repayment terms

Prodigy Finance Perks and Bonuses

Prodigy Finance is a unique student lender that offers loans based on applicants’ future earning potential rather than their ability to show current income. Despite this uniqueness, it doesn’t offer much else unusual or beneficial when it comes time to repay the loan.


When it comes to loan flexibility, Prodigy falls somewhat short. It only offers loans to students studying specific subjects (mostly sciences) at specific schools. Arts students and those going to unsupported schools won’t be eligible.

It also only offers one type of loan, which has a blended interest rate that includes fixed and variable components. Students can choose the term of their loan, but not the type of rate.

One flexibility benefit is that you have six months after graduating before you must start repaying your loan. Prodigy Finance also says it’s willing to work with students who are having issues making payments.


Prodigy Finance has some basic information available that might be helpful for students. This includes a collection of articles covering topics like on-campus employment, how to succeed in an interview, and how to choose where to study.

The lender doesn’t have any kind of individualized guidance or mentorship program that can help its borrowers succeed.


Prodigy Finance’s technology is relatively basic. The online application is smooth and easy to fill out and you can manage your loan through your online account portal once you’ve finished applying. The lender doesn’t use any special technology to help it offer loans or give students a unique experience.

The lender does have a mobile app where you can view your balance, make payments, set up automatic payments, or use a budgeting tool to make the most of your funds. However, it is poorly reviewed, with a 2.4 out of 5 on the Apple App Store.

Final Thoughts

Prodigy Finance is a unique lender that will appeal to international students. The number one draw is that international students can get a loan with no co-signer and no need to prove their current income. Instead, they can get a loan based on their future income potential.

The drawbacks of the lender are that it only offers loans to a small subset of students, those at select schools studying specific subjects. However, if you’re attending the right school and studying the right things, Prodigy Finance may be willing to give you a loan where most other lenders wouldn’t.

Frequently Asked Questions(FAQ)

What is the interest rate for Prodigy Finance?

The interest rate for a Prodigy Finance loan includes a fixed and a variable portion.

The fixed portion of the rate is based on your course of study and expected future earnings. Those studying less in-demand fields or who have lower potential earnings can expect a higher rate.

The variable portion of the loan rate is based on the Secured Overnight Finance Rate, a benchmark interest rate measuring the cost for a bank borrowing money overnight.

How long does it take to get a loan from Prodigy Finance?

Filling out the Prodigy Finance loan application takes just a few minutes. You can provide all of the necessary information in ten to fifteen minutes and immediately see your customized loan quote.

If you decide to move forward with accepting the loan, it can take a week or two to sign all the paperwork and for Prodigy to release the funds to your school.

Does Prodigy Finance reject loan applications?

Yes, once Prodigy Finance reviews your loan application, it may rejectit. While the lender looks at many factors, including future earning potential, to try to make it easier to qualify for a loan, there are cases where it will choose to deny an application.

Also, keep in mind that Prodigy Finance only offers loans to students in certain fields of study that attend a supported school.

About the Author

TJ Porter

TJ Porter

Personal Finance Writer

I have in-depth experience in reviewing financial products such as savings accounts, credit cards, and brokerages, writing how-tos, and answering financial questions both simple and complicated.

More about me