Prodigy Finance charges an administrative fee which ranges between 0% (for some schools) and 2.5% (the minimum being EUR 500 / USD 500 / GBP 400). This fee is charged on your original loan amount. This amount is fully amortised, which means that the administrative fee is spread out evenly across the monthly payments.
For example, let's say that you take a loan of USD 20,000. We would send USD 20,000 to your school and then record your opening balance as USD 20,500. Any additional interest or payments would be calculated against this amount.
It's important to know that you will not be required to make any upfront payments toward your administrative fee. There is nothing for you to pay until your repayment period begins.