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Prodigy Finance Education Loan 2023
Prodigy Finance Education Loan 2023 –Hi everyone! Hope you are all doing well. Welcome back to another blog. So, guys are you looking for an opportunity that shares your burdensome educational expenses? If yes, then you are at the right platform, read the whole blog carefully and get all the details related to Prodigy Finance which provides a lot of schemes or programs to facilitate students to share their educational expenses. They provide the least interest rates, simple processing, and easy repayment facilities to students after the completion of their degree, even after getting the job. They also provide opportunities to students that are willing to study at the top business schools in almost 150+ countries, but due to high expenses, are not ready to come forward. So, take the education loan from Prodigy Finance, make your future bright, and lead your career. The students that are ready to complete their degree in Business, Engineering, Public policy, law, and health sciences, must have to read this article.
Basics of Prodigy Finance Education Loan 2023
Now I will provide you with some basics of Prodigy Finance Education Loan;
- You don’t need to go to any branch of the company.
- No hard copies of documents are needed.
- The dispensation teams of Prodigy Finance are 24/7 available to help students in the right way
- The dispensation time of the Prodigy Finance Education Loan is as fast as that related to other financial organizations.
- Students may get provisional loan sanctions within a few days of submission of important documents.
- Prodigy Finance provides loan amounts without a co-signer or collateral.
- Loan authorizations are given only based on merit.
- Prodigy Finance Education Loans can cover full tuition fees and other non-academic expenses.
- The refunding duration for Prodigy Finance Education Loan is 20 years. The refunding duration begins 6 months after the completion of the course.
Details of Prodigy Finance Education Loan 2023
Now I will provide you with some details of Prodigy Finance Education Loan 2023;
Prodigy Finance Education Loans offers a loan amount worth USD 15,000 (INR 11,14,062) to 100 % of the entire tuition amount.
The interest rate that is applicable by Prodigy finance is changeable and includes two parts:
- A secure margin which is determined by Prodigy Finance
- A flexible base rate which is determined by a 3-month LIBOR (London Interbank Offered Rate)
The fixed margin is built on material that is given by the student in their application, data given by the related institutions, and past borrowing data. Now, the deepest flexible interest rate that is accessible to students is 6.7 % and the existing average rate is 10 %. Prodigy Finance also charges an admin fee for each Prodigy Finance Education Loan. The supreme admin charged by Prodigy Finance is 5% of the whole loan amount.
For full-time students, the refunding duration starts after 6 months by the end of their courses. In the case of part-time students, the refunding duration starts after 3 months by the payout of the loan. While there are no in-school methods to complete refunding of the Prodigy Finance Education Loan, students can still make payments while they are studying. There are no applications or advance consequences for making early payment of the loan before the refunding duration starts. Students also have the choice of paying unpackaged payments, that are waged more than 3 times their predetermined installment, up to their grace duration. Prodigy Finance will routinely re-amortize the loan by dropping the monthly payment by the end of the grace duration.
Moderation and Loan Liberation Methods
If the student is not able to refund the Prodigy Finance Education Loan, they can also get a moderation facility which is provided in 3-month augmentations. Below this, Prodigy Finance reexamines the eligibility after each augmentation. Also, Prodigy Finance is not that compassionate when it originates to the opposition of their education loan in case of death or any disability. They will convalesce the loan payment from the land of the student.
The students that are willing to apply for the Prodigy Finance Education Loan, must have to fulfill the following eligibility conditions, to become eligible to get the loan. Those conditions are;
- Only the applicants that want to study abroad are eligible.
- Applicants must have to secure admission to any university, that is not situated in their home country
- It provides loans to get higher education from any institute.
- Almost more than 750 institutes are included in this loan
- The students that are willing to complete their higher education in Business, Engineering, Public Policy, Law, Health sciences, and STEM professions, are eligible to apply for the loan.
- The students that are willing to study in the USA, and Canada are not eligible to apply, meanwhile, 150+ countries are included in the education loan scheme by prodigy finance.
To apply for the Prodigy Finance Education Loans following credentials are mandatory to attach to the application form;
- Identity proof such as a passport, driver’s license, or government-issued identification document.
- Address proof such as water bill, electricity bill, bank document, rent agreement, etc.
- Admission proof including a letter from the school confirming the acceptance of the student into their program.
- Credit Report.
- Proof of Income (if applicable).
- Proof of Savings (if applicable).
- Proof of Scholarships or Company Sponsorship (if applicable).
To apply for the Prodigy Finance Education Loans follow the given steps:
- The application process to apply for Prodigy Finance Education Loan is online.
- First, go to the official website of prodigy finance.
- Create your account there
- Then, open the application form, and fill it out carefully.
- The dealing team works with the students to class out any certification modifications while filling out the application form.
- After the verification of the documents, the student will receive a conditional loan suggestion on their dashboard.
- The student also got an email related to the loan approval which can be used for fortifying their student VISA.
- The applicant will also be necessities to get a credit report and pass a background check in contradiction of their KYC, Anti-Money Laundering, and Politically Exposed Person criteria.
- After the accomplishment of the above steps, the loan is lastly authorized and an online treaty is signed by the student.
- The loan amount is then unswervingly paid to the relevant institute as and when needed.
- It may take up to 2 weeks for students to get permitted for the loan.
For further details, and to apply for the prodigy finance education loan, visit the official website given below;
Prodigy Finance Education Loan
FOR MORE VISIT OUR OFFICIAL WEBSITE.