Prodigy Finance - anyone else also waiting?

Thank you so much for posting. What kind of issues are you experiencing?

Is this for London-based MBA programs (we had some reports of issues with LBS) or a diff country/location?




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Thanks for your reply.
It is for RSM, and they are aware of what's happening.

The situation is I was planning to cover living expenses using my savings, and then tuition fees through Prodigy Finance. I have already paid 5k EURO registration fee, and my first instalment is due in December, though it now seems unlikely Prodigy will be able to release any funding by then. I can pay for the first instalment using my savings, and then live for a couple of months, but the second instalment is due end of April and I won't be able to cover it...if the funding is not released by then - or at all - my money will of course go to waste.

Unfortunately Prodigy Finance can't provide any further clarification at this stage - maybe December. When I asked them if it is possible there will be no funding, they said they can't clarify now, and what I should know is that there will be no letters until January 2021 the earliest, they will update in due time, they can help me withdraw my application of course and I can seek alternate sources of funding, if I prefer to go down that route.

Having a mild nervous breakdown. Though my situation certainly not as bad as for students who have very limited (or close to zero) savings and waiting for their visas (I don't need the latter)...

Yes, I applied in first week of sept and now received the recent email. It's a nightmare for many of the students who rely on Prodigy for student loans. My friends who are in similar situations are scrambling now in local banks and there is also a possibility that one might have to defer if we don't get funding.

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I am from Singapore. Having received the same message too.

Hello everyone,
My wife recently received another postponement with Prodigy. It was supposed to get last year, then January, now only in March! She is starting her LLM studies this Spring in Cornell.

I am looking for another options to finance. We are international students, so options are very limited unfortunately.

Cheers,

Hi there,

I am facing a similar situation. Another part of the issue is that as an international student I will need the final loan approval letter to apply for the visa as well. It seems that for the year 21/22 they have even opened funding for several markets. This is a really huge problem since a part of my overall financing relied on the assumption that I will be able to secure a loan!

I heard this situation with Prodigy Finance is just not with MBA students, other international students also have similar problems with them.
If the problem gets worse, I believe you can file a complaint to Financial Ombudsman Service in London online (https://www.financial-ombudsman.org.uk/)

I just applied for ESADE, Casse Business School loan through Prodigy. But both are automatically declined. I asked why, and it seems like it is not open to certain market. In my understanding, it is not open to Canadian market yet. So this is getting me worried if I ever can get any funding if I want to study abroad.

Hi Everyone

I am in the process of applying a loan through Prodigy for Fall 2021 FT MBA. Wanted to check with past applicants if they were able to get a loan finally? Should I expect delays this year too?

Hi there I am waiting as well. According to prodigy the applications from my market are not open yet and they have no clue about when will they be open. This is really frustrating because as an international student I don't have very many choices! But I guess that's another downside of doing an MBA during a pandemic

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Got same answer from prodigy today, no funds for my market..

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Hi. I have also applied for a loan from Prodigy for Netherlands. Their website says they are open for loan applications for Fall 2021. Anyone else who has applied for the Netherlands market?

Hi. I applied for a loan for Europe at prodigy and they have declined it. I got an automated response that the loan cannot be granted. I am not sure what the criteria was? Is anyone in this situation?

Same situation here. Which country do you apply from? I applied as Canadian. Not sure which country they offer loan this year. Not clear on their response.

hi, which country are you applying from?

hi, you are applying from the Netherlands? or your school is located in Netherlands?

Prodigy Finance seems not to have found an investor who funds MBA for students applying from Indian market as yet. Unless they get more investors who fund MBA for students from India, they will put everyone from India on the waitlist and once they get the desired investors willing to invest in the Indian market, they will offer a loan.

Interesting. I was told that most of the prodigy loans are funded by a US government bank. Something along the lines of a development bank. I have asked him about funding challenges and they mentioned they were not expecting them and they expect to fund all the loans....

Prodded you did mention that they had a delay in disbursing fall and winter loans but all that has been squared away supposedly...

What information are you getting?

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Hello! I received the admission letter from HHL. I am from Brazil and asked for the Prodigy loan.
Guys, do you think that I have a chance to getting the loan?

Tks!

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