A final loan confirmation letter (sometimes referred to as a sanction letter) confirms that we have approved your loan application. A conditional loan confirmation letter can be used for I-20 applications and Visa appointments but it is not a guarantee the school or Visa office will accept it as they may require the final loan confirmation letter.
When is it available?
- After verifying your identity, your conditional loan confirmation letter will be available on your Prodigy Finance dashboard. You can download your conditional loan confirmation letter from the files section of your application.
- Once we have verified your supporting documents, your application will be moved to our weekly matching rounds, where your application will be considered for funding to available funding sources. When you’ve been matched to available funding, we'll notify you in order to confirm if you'd like to proceed with your loan and you’ll need to pay the processing fee of USD 100. To understand more about the fee, click here
- Once the processing fee has been paid, you will be able to access your final loan confirmation letter on your dashboard which you can use for visa purposes.
How do I receive the Loan Confirmation Letter?
Log into your Prodigy Finance account in order to access an electronic copy of your loan confirmation letter on your student dashboard. The letter will be under the files section of your dashboard.
Can I use my loan for Visa purposes?
You can utilize your Prodigy Finance loan confirmation letter as proof of funding to support your visa application. Please remember that this does not necessarily guarantee that your visa application will be successful.