From submitting an application, to getting a quote, and signing your final loan agreement - our entire process is online. Here are the 6 steps to our loan process:
- Get started
- Apply for funding
- Upload your documents
- Finalise your loan
- Sign on the dotted line
- Study first, pay later
Apply for funding
In exchange for some additional details about your plans, you’ll receive a customised quote. If you’re still deciding where to study, you can submit an application for each school and compare offers.
Upload your documents
Accept the quote that’s right for you and upload a few documents. We’ll finalise our review, and you’ll be added to our waitlist while we confirm available funding.
If you're not sure where to find a credit report, you can ask us to pull a credit report on your behalf. This service is available to most customers - if you don't see it from your dashboard, we might not have added your credit bureau yet. In that case, you can head over to this handy list with instructions for where to get your credit report.
Finalise your loan
We’ll match your application with the funds we’ve raised from our community of investors. If you’re matched, we’ll notify you so you can commit to your loan and get a letter of approved funds to use for your visa appointment.
Sign on the dotted line
Sign your loan when you land on campus, and your money is on the way! We send funds straight to your school, so you don’t have to worry about making complex international transfers.
If part of your loan is for living expenses, we'll send your full loan amount (tuition + living expenses) to your school, and your school will pay the amount for living expenses into your personal bank account.
You should reach out to the bursar or financial aid office at your school once we've sent your funds to them. They'll be able to share their payment processes and dates so you know when to expect your funds.
Study first, pay later
Soak up campus life and share your story with the next batch of international grads. Payments don’t start until 6 months after classes end if you study full-time, so you can focus on getting your degree and landing that dream job. If you study part-time, repayment begins 3 months from the date we send your funds to the school.
Your loan agreement will include the date that your first repayment is due. We’ll also be sending you the occasional email during your studies and through your grace period to help you prepare to start repaying your loan. Plus, you can use the Prodigy Finance mobile app any time to check your statements, outstanding balance, review payment due dates, and get information about making payments.