1. Apply Online
You'll be able to register and submit your application through our online platform. The whole process only takes about 30 minutes to complete.
2. Get a Quote
If your application is successful we’ll review and respond with a quote, otherwise known as the Provisional Offer. We can usually offer a response instantly, or at most, within two business days. Your offer will be valid for up to two weeks.
To understand how we make our credit decisions, read more here.
3. Upload your Documents
Once you've decided to accept your offer, we'll ask you to submit electronic scans of some documents to verify the information you've included in your application. Here's what to expect:
- Proof of identity (your passport)
- Proof of admission
- Credit report*
- Proof of address
- Proof of income
- Proof of savings (if applicable)
- Proof of scholarships or company sponsorship (if applicable)
- Financial aid form (if applicable)
* If you're not sure where to find a credit report, head over to this handy list with instructions for each country.
4. Sign your Loan Agreement
After we've verified your documents, you'll receive a Loan Approval Letter. This is the document you should use in your student visa application as proof of funds.
We'll be in touch once you arrive in your new home, asking you to sign your loan agreement online.
5. Receive the Funds at your School
We'll send the full amount directly to the school. If there are excess funds after your tuition has been covered, the school will pay these to your personal bank account.
If you're expecting your Prodigy Finance loan to cover part of your living expenses, you should reach out to the bursar or financial aid office at your university for updates. They'll be able to share their payment processes and dates so you know when to expect your funds.
6. Focus on your Studies
Prodigy Finance offers generous grace periods so that you don't need to worry about repaying your loan while still studying.
- Full-time students: repayment begins 6 months from the date of your final class.
- Part-time students: repayment begins 3 months from the date when we send your funds to the school.
7. Loan Repayment
Your loan agreement will include the date that your first repayment is due (don't worry, we'll send a reminder). You'll always have access to your loan statements, which share the exact amount that is due, plus details on making a successful payment.