Certification is a process in the U.S. created for the purpose of borrower protection. Before a lender can send funds to the school, certification must be completed.
What does the school do?
The school will check the loan amount to ensure it falls within its funding requirements, and they will look at your total financial profile to ensure that the Prodigy Finance loan combined with other funding sources will cover your tuition and living expenses.
How does it work?
We send your loan for certification to your school around 3 months before your class start date. We use a third party provider, called One Logos who manages the certification with the school. Once the school has certified the loan, we will update your application accordingly. Certification can take anything from 3 weeks up to 3 months for the school to certify your loan.
What are the next steps after certification?
As part of the certification process, your school will set the date and split for Prodigy Finance to send the funds to them. We will then upload some disclosure documents to your online dashboard for you to review, and your final loan agreement will be ready for you to e-sign when you arrive on campus.
If you want any information related to the Prodigy Finance supported schools before you make your decision, or if the question is simply, “What loans am I eligible for?”, simply check out one of our Support pages or visit our Study Centre to read more about how Prodigy Finance can help you in the next stage of your career journey.
Also, if you have some questions about Prodigy Finance charging any hidden fees, whether your full cost of studies will be covered, whether forex rates will affect your interest, or if you’ll receive a tax break or not, here is an article that provides as good a Prodigy Finance review as possible.
For any other information about Prodigy Finance, or our student loan process, feel free to browse through our site or register for a webinar to have your questions answered by one of our team members before you apply for our student loan.