upGrad Abroad & Prodigy Finance partner to offer collateral-free international loans for Master’s Degrees
New Delhi : Prodigy Finance, collateral/ co-signer free education loans provider for overseas studies, has entered into a partnership with upGrad Abroad, the study abroad vertical of Asia’s higher edtech major; upGrad. This association aims to finance the overseas education of learners pursuing Masters’ degrees from leading universities powered by upGrad Abroad.
This partnership aims to solve a larger purpose, wherein every learner should be offered the opportunity to pursue higher education at their dream schools globally, without fear of financial constraints. With overseas education surging, upGrad Abroad and Prodigy Finance have joined hands to ensure that learners in the 2nd year of a Master’s degree can avail collateral-free loans, with a repayment period of up to 20 years.
As part of this partnership, upGrad Abroad will offer Master’s courses across domains like Artificial Intelligence (AI), Data Analytics, Civil Engineering, Entrepreneurship, Cybersecurity, International Business and Project Management amongst others across destinations such as the USA, the UK, Germany, Canada, Ireland, Australia and France. This is where Prodigy Finance’s collateral-free loan will allow learners the liberty to study abroad from the international campus, without any co-signer, guarantors, or any collaterals. The process is transparent, allowing learners to access their loan status, allotment, transfer and repayment on the Prodigy Finance online platform which is accessible from anywhere in the world.
This will further foster learners with the confidence to pursue higher education globally and enough time to experience and build networks around the best campuses in the world. As students look forward to newer opportunities in the foreign country in the 2nd year of their course, Prodigy Finance will enable the study abroad education loan for students to make the transition seamless.
Commenting on the Partnership, Mayank Sharma, Country Head, Prodigy Finance said “We are excited to partner with upGrad Abroad to further our shared vision of making quality education accessible and affordable. It gives us immense pleasure to announce that upGrad Abroad students would have an opportunity to get the best of both worlds , benefitting from our collateral and co-signer-free loan, without letting the cost of education hindering their dreams.”
Ankur Dhawan, President , upGrad Abroad said “We wish to support our learners’ dreams of studying abroad, to further democratise education and offer quality education opportunities for all. We strongly believe that financial burdens should not get in one’s way to quality education and therefore our partnership with Prodigy Finance will ensure that our learners are not hindered in their higher education pursuit. We want to support our learners across their overseas education journey, from drafting SOPs, to documentation, applications, coaching & mentoring, career placements, visa application and now financial aid. Therefore, we are happy to partner with Prodigy Finance to advance our vision further in enabling our learners, as they complete their degrees and career transformations from International universities.”
Till date, Prodigy Finance has funded over USD $1 billion worth of student loans for nearly 25,000 students from 130 nationalities worldwide. The company is backed by marquee investors such as Index Ventures and Balderton.