Student loan ratings
Private student loan
The bottom line:
Prodigy Finance is an online lender offering loans to international grad students. It is best for international students who don't have co-signers.
Private student loan review
4.5/5 NerdWallet rating
Offers a hard-to-find option: non-co-signed student loans for international students.
You can see if you’ll qualify and what rate you’ll get without a hard credit check.
No fixed interest rates.
Unlike many other international and private loan options, Prodigy requires no co-signer or collateral. Interest rates are determined by a borrower’s future earnings potential as well as credit history.
However, Prodigy Finance should be used only for its primary purpose: fulfilling lending needs for international students. U.S. students have access to federal student loans and can get private loans with better terms and more beneficial repayment options from other lenders. If you're a U.S. citizen in search of a private student loan, you can compare lenders here.
Prodigy Finance's private student loan at a glance
Best for international students without a co-signer or U.S. credit history.
20% of borrowers qualify for the lowest-advertised interest rate.
Borrowers receive, on average, $40,000 in loans.
How Prodigy Finance could improve
Prodigy Finance could improve its private student loans by offering:
Loans to borrowers living in all 50 U.S. states.
Set forbearance and deferment options for borrowers.
Biweekly student loan payments via autopay.
Prodigy Finance private student loan details
How to apply for a Prodigy Finance student loan
You can apply for a Prodigy Finance student loan on its website. Before taking out a Prodigy Finance student loan or any other private student loan, exhaust your federal student loan options first. Submit the Free Application for Federal Student Aid, known as the FAFSA, to apply.
» MORE: NerdWallet’s FAFSA Guide
Compare your international student loan options to make sure you’re getting the best rate you qualify for. In addition to interest rates, look at lenders’ repayment alternatives and the flexibility they offer to borrowers who struggle to make payments.
STUDENT LOAN RATINGS METHODOLOGY
Our survey of more than 29 banks, credit unions and online lenders offering student loans and student loan refinancing includes the top 10 lenders by market share and top 10 lenders by online search volume, as well as lenders that serve specialty or nontraditional markets.
We consider 40 features and data points for each financial institution. Depending on the category, these include the availability of biweekly payments through autopay, minimum credit score and income requirement disclosures, availability to borrowers in all states, extended grace periods and in-house customer service.
The stars represent ratings from poor (one star) to excellent (five stars). Ratings are rounded to the nearest half-star.