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Prodigy Finance


Funding for higher education is a daunting task especially if you are going to do it abroad like me. Many of the school out there require you to pay excess of $ 40,000 per year and if it's a two year course you are looking at $ 80,000 without including living costs. This can be a real problem especially if you are coming from a third world country where the tuition is a fraction of that cost. This led to many potential students giving up their dreams.

 

Many people would advise looking for scholarships but that is not the case for most students this is because they are average students, not A students with GPAs of 4.4 or above. I fall under the category of average student. Therein lies the need to look for funding to pay for the tuition. So came Cameron Stevens one of the founders of Prodigy Finance who like us had problems paying for tuition. When he was through with business school he started the company Prodigy finance. It opens opportunities for international students to access student loans without cosigners giving them the opportunity to study abroad.

 

The best part about the loan is that it issued based on future earning potential rather than their financial history, background or nationality. There is a lot of voodoo involved in how they determine this, I don't understand how they do it that is why I call it voodoo, but they have their own proprietary scorecard that they use to determine who they will give their money to. A little bit about their scorecard- it combines earnings statistics from past graduates with numbers for current and predicted economic circumstances such as geographical differences in pay and the need for particular skill sets, to gauge whether loans are safe,

 

What are your thoughts on student loans?

 


 

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