Last visit was: 21 May 2026, 12:25 It is currently 21 May 2026, 12:25
Home
Messages
Tests
Schools
Events
Close
GMAT Club Daily Prep
Thank you for using the timer - this advanced tool can estimate your performance and suggest more practice questions. We have subscribed you to Daily Prep Questions via email.

Customized
for You

we will pick new questions that match your level based on your Timer History

Track
Your Progress

every week, we’ll send you an estimated GMAT score based on your performance

Practice
Pays

we will pick new questions that match your level based on your Timer History
Not interested in getting valuable practice questions and articles delivered to your email? No problem, unsubscribe here.
Go to My Error Log Learn more
Close
Request Expert Reply
Confirm Cancel
avatar
ecziiion
avatar
Current Student
Joined: 16 Dec 2019
Last visit: 18 Nov 2022
Posts: 60
Own Kudos:
35
Given Kudos: 39
Schools: Schulich Sept '23 (M$) Ivey (A$) Rotman '23 (A$)
GPA: 3.43
Schools: Schulich Sept '23 (M$) Ivey (A$) Rotman '23 (A$)
Posts: 60
Kudos: 35
Prodigy can not pay the approved loan 23 Mar 2021, 01:27
Kudos
Add Kudos
Bookmarks
Bookmark this Post
I'm sorry to hear that. I truly do wonder how they come up with these conclusions... I'll try to follow your suggestion although I am very much pressed for time. I already asked for an extension until the 31st. Guess I need to take a gamble with my deposit!

[email protected]


They said I wont be able to service the loan post the completion of my course!
Show more
avatar
[email protected]
avatar
Joined: 05 Sep 2017
Last visit: 14 Jun 2021
Posts: 24
Own Kudos:
5
Given Kudos: 3
Posts: 24
Kudos: 5
Prodigy can not pay the approved loan 23 Mar 2021, 01:39
Kudos
Add Kudos
Bookmarks
Bookmark this Post
ecziiion
I'm sorry to hear that. I truly do wonder how they come up with these conclusions... I'll try to follow your suggestion although I am very much pressed for time. I already asked for an extension until the 31st. Guess I need to take a gamble with my deposit!

[email protected]


They said I wont be able to service the loan post the completion of my course!
Show more

I wonder that too, even after showing my savings in hefty amount. Well yes i think it will be a gamble, i played the same.
avatar
cnsltexord
avatar
Joined: 26 Feb 2021
Last visit: 02 Aug 2021
Posts: 21
Own Kudos:
6
Given Kudos: 2
GPA: 3.35
Posts: 21
Kudos: 6
Prodigy can not pay the approved loan 04 Apr 2021, 11:55
Kudos
Add Kudos
Bookmarks
Bookmark this Post
Hey, everyone. Has anyone received any updates from Prodigy Finance regarding their application? It seems like my application status has been moved from uploading documents to matching stage. Anyone else had similar change in status?

Posted from my mobile device
avatar
[email protected]
avatar
Joined: 05 Sep 2017
Last visit: 14 Jun 2021
Posts: 24
Own Kudos:
5
Given Kudos: 3
Posts: 24
Kudos: 5
Prodigy can not pay the approved loan 04 Apr 2021, 23:27
Kudos
Add Kudos
Bookmarks
Bookmark this Post
cnsltexord
Hey, everyone. Has anyone received any updates from Prodigy Finance regarding their application? It seems like my application status has been moved from uploading documents to matching stage. Anyone else had similar change in status?

Posted from my mobile device
Show more

Its the same for me. The first stage of matching is supposed to be done by mid April.
User avatar
neosumit
User avatar
Joined: 07 May 2010
Last visit: 26 Apr 2022
Posts: 155
Own Kudos:
33
 [1]
Given Kudos: 16
Status:I ain't here
Concentration: Finance, General Management
Schools: Mendoza '22 (A$)
GMAT 1: 750 Q50 V41
Schools: Mendoza '22 (A$)
GMAT 1: 750 Q50 V41
Posts: 155
Kudos: 33
 [1]
Prodigy can not pay the approved loan 06 Apr 2021, 01:52
1
Kudos
Add Kudos
Bookmarks
Bookmark this Post
Umesh14uv
Prodigy declined my application, saying thanks to their software and as responsible lender they thought I will have financial problems if I take this loan.
The declination response was hilarious, I had a good laugh after seeing that.

Posted from my mobile device
Show more

I got a similar response and initially, I thought it was owing to oversight, so applied again.
Next time also I got the same message.

Prodigy is trying to hint that taking a loan for an MBA in 2021 is not the smartest thing to do - at least for some of us!

Believe some cool data analytics tool is at play here. :)

I have requested deferral at Notre Dame considering the Covid situation i.e. the risk of catching the virus during the travel itself & the nonavailability of loans in USD.

Waiting for an update from Mpower btw.
avatar
cnsltexord
avatar
Joined: 26 Feb 2021
Last visit: 02 Aug 2021
Posts: 21
Own Kudos:
6
Given Kudos: 2
GPA: 3.35
Posts: 21
Kudos: 6
Prodigy can not pay the approved loan 07 Apr 2021, 07:24
Kudos
Add Kudos
Bookmarks
Bookmark this Post
https://bwdisrupt.businessworld.in/artic ... 21-385160/
User avatar
Nikhil
User avatar
Current Student
Joined: 22 May 2017
Last visit: 21 May 2026
Posts: 13,462
Own Kudos:
10,139
Given Kudos: 3,356
Affiliations: GMATClub
GPA: 3.4
WE:Engineering (Technology)
Products:
My Reviews
Posts: 13,462
Kudos: 10,139
Prodigy can not pay the approved loan 08 Apr 2021, 07:27
Kudos
Add Kudos
Bookmarks
Bookmark this Post
Hi everyone,

We have a live chat session with the MPOWER Financing team about "Financing your MBA " in about 30 minutes from now at 8 AM PST | 8:30 PM IST. You can join the chat at the following link

https://gmatclub.com/forum/mchat.php
avatar
cnsltexord
avatar
Joined: 26 Feb 2021
Last visit: 02 Aug 2021
Posts: 21
Own Kudos:
6
Given Kudos: 2
GPA: 3.35
Posts: 21
Kudos: 6
Prodigy can not pay the approved loan 15 Apr 2021, 00:13
Kudos
Add Kudos
Bookmarks
Bookmark this Post
Hi guys,

Has anyone heard back from Prodigy regarding the 1st round of matching for funds?

Posted from my mobile device
User avatar
ProdigyFinance
User avatar
Prodigy Finance Representative
Joined: 12 May 2014
Last visit: 15 Nov 2021
Posts: 116
Own Kudos:
26
Given Kudos: 4
Expert
Expert reply
Posts: 116
Kudos: 26
Prodigy can not pay the approved loan 16 Apr 2021, 04:57
Kudos
Add Kudos
Bookmarks
Bookmark this Post
cnsltexord
Hi guys,

Has anyone heard back from Prodigy regarding the 1st round of matching for funds?

Posted from my mobile device
Show more


Hi there. Our first round of matching took place on 15 April. If you'd like to find out more about matching, or need to follow up on the status of your application, please email our support team on [email protected]
avatar
[email protected]
avatar
Joined: 05 Sep 2017
Last visit: 14 Jun 2021
Posts: 24
Own Kudos:
5
Given Kudos: 3
Posts: 24
Kudos: 5
Prodigy can not pay the approved loan 21 Apr 2021, 01:43
Kudos
Add Kudos
Bookmarks
Bookmark this Post
cnsltexord
Hi guys,

Has anyone heard back from Prodigy regarding the 1st round of matching for funds?

Posted from my mobile device
Show more

I am matched with funds on 15th April.
User avatar
GyanDhan_Finance
User avatar
GyanDhan Financing Representative
Joined: 23 Oct 2023
Last visit: 10 Apr 2024
Posts: 58
Own Kudos:
14
Expert
Expert reply
Posts: 58
Kudos: 14
Prodigy can not pay the approved loan 23 Jan 2024, 00:44
Kudos
Add Kudos
Bookmarks
Bookmark this Post
Hey,

Apart from Prodigy, there are several lenders that you can opt for. Here is a brief information about all of them.

There are 2 types of education loans that you can go for i.e. secured education loan and unsecured education loans.

A few secured loan options are as follows -

    1. SBI - they can provide you with up to 1.5 Cr INR loan with an interest rate starting at 11.15%. The processing fee for the same is 11,800 INR including GST.

    2. UBI - they can also provide you with an education loan with up to 1.5 Cr INR with an interest rate starting at 10%. They charge a processing fee of 5,000 INR which is refundable in case you take disbursement within 3 months of loan approval.

Please Note - For both the cases above, collateral will be required.

Options for getting an unsecured education loan i.e. loan without collateral are shown below -
LenderMaximum Loan AmountRate of Interest
Axis BankUp to 50 Lakhs INR11% - 13.50%
ICICI BankUp to 50 Lakhs INR10.85% - 12.50%
IDFC FIRST BankUp to 50 Lakhs INR11.50% - 13.25%
HDFC CredilaUp to 65 Lakhs INR11.25% - 13%
AuxiloUp to 65 Lakhs INR11.25% - 13%
IncredUp to 60 Lakhs INR12.25% - 14%
AvanseUp to 75 Lakhs INR12.50% - 13.50%
MPOWER FinancingUp to 100,000 USD12.99%

Absolutely, the decision ultimately boils down to your individual preferences and requirements. In case you have collateral then you can go for a secured education loan with a public sector bank. In case you do not want to pledge collateral then you should go for unsecured loans from private banks or NBFCs but ensure to have a good financial co-applicant. In case you do not have a financial co-applicant then you may go for international lenders.

To streamline your education loan process, you can proactively check your eligibility through platforms like GyanDhan, India's first and largest education financing marketplace. We specialize in helping students fulfill their dreams of studying abroad, and our services are free.
   1   2   3   4   5