Does Prodigy Finance Cover Living Expenses?
In today’s globalized world, pursuing higher education abroad has become increasingly popular. However, the high costs associated with studying abroad can be a significant barrier for many students. Prodigy Finance, a leading student loan provider, offers financial assistance to international students, but the question remains: does Prodigy Finance cover living expenses?
Understanding Prodigy Finance’s Coverage
Prodigy Finance provides student loans to international students studying at top universities worldwide. The loans are designed to cover tuition fees, living expenses, and other related costs. While the primary focus of the loan is to finance the educational expenses, a portion of the loan can be allocated towards living expenses.
Eligibility and Loan Amount
To be eligible for a Prodigy Finance loan, students must be enrolled in a full-time, postgraduate program at a recognized university. The loan amount is determined based on the student’s tuition fees, living expenses, and other costs associated with their studies. Prodigy Finance offers flexible loan amounts, allowing students to borrow up to 100% of their total costs.
Covering Living Expenses
While Prodigy Finance does cover living expenses, the amount allocated for this purpose depends on several factors. These factors include the student’s country of study, the cost of living in that country, and the duration of the program. Prodigy Finance takes into account the average cost of living for students in similar circumstances when determining the loan amount for living expenses.
Loan Repayment Terms
It’s important to note that while Prodigy Finance covers living expenses, the loan must be repaid after the student completes their studies. Repayment begins six months after the student graduates or leaves their program, whichever comes first. Prodigy Finance offers flexible repayment options, allowing students to choose between fixed or variable interest rates and repayment terms that suit their financial situation.
Conclusion
In conclusion, Prodigy Finance does cover living expenses for international students pursuing higher education abroad. However, the amount allocated for living expenses depends on various factors, and students should carefully review the loan terms and conditions before applying. By understanding the coverage and repayment terms, students can make informed decisions about their financial aid options and ensure a smooth transition to their studies abroad.
