AECC Global Nepal

Student Loans to Study in the UK

4 minutes reading time (751 words)
student-loan-to-study-in-the-uk


If you want to study in the UK, there are plenty of financial options available to help make your dreams a reality. Don't let a lack of funds stop you from getting world-class education in the UK. Private student loans are a great way for international students to cover the costs of their studies. These loans usually have favourable interest rates and repayment schedules, making them a viable option for anyone looking to finance their international education. 

Why is Prodigy Finance the best option for you?

Looking to finance your education without the burden of a cosigner or collateral? If yes is your answer, Prodigy Finance may be able to help you. Prodigy offers loans to international students and professionals based on your future earnings potential.

When calculating affordability, Prodigy Finance takes into account both your past credit history and potential future earnings. This means that you can submit a loan application without a cosigner or a piece of collateral.

Without having to burden their families with the costs of studying abroad, it enables students to apply for a loan, start their study abroad journey, and fulfil their aspirations of attending one of the best universities in UK.

Why choose prodigy finance?

  • Loans determined by your potential

Prodigy Finance determines affordability based on your anticipated future income. You can apply for a loan without a cosigner or putting up any security as a result.

  • Prodigy offers financial aid to students from more countries than any other lender

Over the years, Prodigy has developed a unique credit technique that allows them to lend to students in 118 different countries.

  • Early repayment is not subject to any fees

To make the transition back to work after you finish your studies easier, Prodigy provides a grace period before repayments begin and don't impose a fee for early repayment.

  • Eligibility & Requirements

Prodigy Finance evaluates credit based on long-term objectives and elements including pre-study pay, acceptance to the school, and post-graduation earnings. This is to ensure that loans are accessible to everyone, without the requirement of security, co-signers, or guarantors.

You must fulfil the following requirements to be qualified for a Prodigy Finance loan (which is subject to an affordability check):

  • You must be accepted into a programme and institution supported by Prodigy finance.
  • You must provide details about the institution and the course(s) you are interested in on the request form.
  • You must be pursuing your education abroad.
  • You must be a national of one of the countries represented by Prodigy financing.
After you submit your application, you will be directed to an automatic verification process to confirm your identity.
  1. Your Identity
  2. Proof of Identity

A colour scan of your passport's identification page is all that is needed as proof of identity - there is no need to send through copies of every page.

  • Proof of Address

Your proof of address must show your name and current address, which should match the information you provided on your application. The document must be dated within the last three months.

  • Your school admission

To confirm your admittance to the course, you will need to provide a letter or email from your school that includes your name, school, and course. The letter should indicate that you have been accepted to the course. Please note that for this task the i-20 VISA documentation will not be accepted as the confirmation of admittance to the school.

  • Your Credit Report

Your credit report is an important document that summarises your credit history. It is prepared by a credit reference agency and must be submitted as part of your application.

  • Any savings or family contributions to fund your studies

In some cases, we'll need you to provide evidence that you have enough money set aside to support yourself without the help of the Prodigy Finance loan. This is the sum that you indicated in your application budget as savings.

  • Confirming your sponsorship or scholarship

You will have to submit a letter on official letterhead from the organisation providing the scholarship or sponsorship, with the award amount matching what you stated in your application. Your name should be on this document, and it should be in an uneditable format, like a pdf.

If you feel daunted about the whole process of applying for a student loan & studying abroad, sit back and relax! AECC Global is here to guide you through the whole process. Contact us today to talk to our expert counsellors.


Related Posts

Image
Copyright © 2022 AECC Global. Useful Links | Glossary | Terms of Use | Privacy Policy
4
Speak to UsCourse SearchAECC Student