Prodigy Finance Reviews: Private Student Loans

Prodigy Finance offers graduate loans for international students and doesn't require a co-signer.
By Cecilia Clark 

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Student loan ratings

Prodigy Private Student Loan
  • Private student loan


NerdWallet rating 

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

Prodigy Private Student Loan
Prodigy Private Student Loan


 NerdWallet rating 
Variable APR


  • 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.

Full Review

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:

Prodigy Finance private student loan details

  • Soft credit check to qualify and see what rate you’ll get: Yes. However, credit history is not required for this loan.

  • Loan terms: 7, 10, 15 or 20 years.

  • Loan amounts: $15,000 ($35,000 in certain U.S. states) to $220,000.

  • Application or origination fee: 2.5% of your loan amount at the beginning of your loan term.

  • Prepayment penalty: No.

  • Late fees: No.

Compare Prodigy Finance's range of interest rates with other private student loan lenders. Your actual rate will depend on factors including your future income. To see what rate Prodigy Finance will offer you, apply on its website.

Prodigy Finance considers future income, rather than current income or credit score to make lending decisions. Co-signers are not allowed for the Prodigy Finance student loan. The loan is for international students on any visa type.


  • Minimum credit score: No credit score required.

  • Minimum income: No income required. Future earnings are considered.

  • Typical credit score of approved borrowers or co-signers: No credit score required.

  • Typical income of approved borrowers: No salary required. Future earnings are considered.

  • Maximum debt-to-income ratio: Based on future income.

  • Can qualify if you’ve filed for bankruptcy: Yes, on a case-by-case basis.


  • Citizenship: This product is for international students.

  • Location: Available to borrowers in all U.S. states except Alabama, Arizona, Arkansas, California, Delaware, Hawaii, Idaho, Indiana, Louisiana, Maine, Montana, Nevada, North Dakota, Oregon, Rhode Island, South Dakota, Vermont, Washington and Wyoming.

  • Must be enrolled half-time or more: Most borrowers are full-time students, but Prodigy will support part-time students on a course-by-course and case-by-case basis.

  • Types of schools served: Not necessarily. Prodigy Finance supports 450+ schools around the world.

  • Percentage of borrowers who have a co-signer: No co-signers are allowed for this loan.

In-school repayment options

  • Immediate: Begin making full monthly payments as soon as the loan is disbursed. This option will save you the most in interest.

  • Deferred: You won’t be required to make any payments until your grace period ends, but you can choose to make payments if you’d like. Interest will accrue while you’re in school and will capitalize, or get added to your principal balance, at the end of your grace period.

Post-school repayment options

  • Grace period: 6 months.

  • Academic deferment: Reviewed on a case-by-case basis.

  • Military deferment: Reviewed on a case-by-case basis.

  • Forbearance: Reviewed on a case-by-case basis. Reasons like “financial difficulty” could provide borrowers with three months with a maximum of nine months of forbearance, for example.

  • Co-signer release available: Not applicable.

  • Death or disability discharge: Reviewed on a case-by-case basis.

Repayment preferences

  • Allows greater-than-minimum payments via autopay: No.

  • Allows biweekly payments via autopay: No.

  • Loan servicer: Prodigy Finance.

  • In-house customer service team: Yes.

  • Process for escalating concerns: Yes.

  • Borrowers get assigned a dedicated banker, advisor or representative: No.

  • Average time for approval: 3 weeks.

  • Referral bonus: You may receive a $300 bonus for referring other borrowers.

  • Scholarship opportunities: As a borrower, you can apply for a scholarship worth $10,000.

  • Phone discounts: Up to 35% off your monthly mobile phone rates when traveling to the U.S., including discounts on mobile phones and U.S. data plans and a $500 deposit fee waived.

  • Moving assistance: Prodigy offers help with finding a place to live; help securing a student visa; and a comprehensive travelers guide.

  • Member perks and networking: Access to their City Lookbook; networking events; and access to the Prodigy Finance Community group on LinkedIn.

  • Career services: From online workshops and discounts to individual career-coaching sessions and a free career course.

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.

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.


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.