How the Prodigy Finance Loan Process Works (8 Steps)

Our entire loan process is online — from applying to signing your agreement and repaying your loan.

Step 1: Create Your Account

Sign up by creating an account and confirming your email address. We'll support you throughout your journey so that applying for funding is effortless

You don’t need to have received admission to apply, and there’s no obligation to accept your offer.

Step 2: Apply for Funding

Complete your online application; it takes about 10 minutes.

If eligible, you’ll receive a provisional loan offer instantly or within 2 business days.

Applying to multiple schools?
You can create separate applications and compare offers. You can only proceed with one loan per academic period once you decide where to study. If you're still deciding where to study, you can create a separate application for each school and compare offers.

Step 3: Accept Your Offer

Choose the quote that works for you and move forward with your application.

Step 4: Upload Your Documents

Upload the required supporting documents so we can verify your information.

Verification typically takes 1–4 business days, provided your documents meet our requirements and no additional information or clarification is needed.

You can view the full list of documents we accept:  What documents do I need to finalise my loan?

Step 5: Loan Matching & Sanction Letter

Once verified, we match your loan with funds raised from our community of investors. If matched, you’ll receive your loan sanction letter (for visa purposes, where applicable).

Step 6: Digitally Sign Your Loan Agreement

Once you arrive on campus, you’ll sign your loan agreement digitally.

After you sign your loan agreement, you’ll see a task in your dashboard prompting you to schedule your tuition disbursement.

Once everything is confirmed and we countersign your agreement, your tuition will be released to your school.

Step 7: Funds Are Disbursed

• Tuition is sent directly to your school.
• Living expenses (if included) are usually sent to your verified personal bank account in your study country after tuition has been paid and enrollment confirmed.

Step 8: Repayment Begins

Depending on your loan terms, you may make small fixed payments while studying.

If in-school payments apply:

• Full-time students: USD 100 per month during studies and 6-month grace period
• Part-time students: USD 100 per month for the first 3 months, then full repayment begins

Not all loans require in-school payments. Your repayment schedule will be outlined in your final loan agreement.

You can track your balance, statements, and due dates anytime in the Prodigy Finance mobile app.We'll also be sending you the occasional email during your studies to help you prepare to start repaying your loan. 

You can also use the Prodigy Finance mobile app anytime to check your statements, outstanding balance, review payment due dates, and get information about making payments.