Applications Open for Prodigy Finance`s New Co-Signer Loans for Indian Students Offering Lower Interest Starting at 8.47%
Indian students aiming to study abroad now have a new financing option with Prodigy Finance’s co-signer loans. This new option allows students to borrow money at lower interest rates by including a co-signer in their loan application. As education costs continue to rise, having access to lower interest rates can make a substantial difference in the overall cost of your studies abroad. It is a bold step by the company to expand beyond its traditional no-cosigner loan model. This is in addition to their existing loan offerings. If you prefer to apply independently, Prodigy Finance also continues to offer no co-signer loans.
A co-signer is typically a financially stable family member who agrees to share responsibility for loan repayment. This added financial backing can help secure better loan terms, including lower interest rates starting at 8.47%. Borrowers can access loans to cover the full cost of attendance, up to $220,000*, ensuring they have sufficient funds to cover tuition and living expenses.
The launch of co-signer loans comes as a viable solution to the rising cost of international education. Many students struggle with high tuition fees and living expenses, and securing a loan with favourable terms can make a substantial difference. With this new loan type, students can choose between applying with a co-signer for better rates or opting for Prodigy Finance’s existing no-cosigner loans, giving them the flexibility to select what works best for their financial situation.
Sonal Kapoor, Chief Financial Officer at Prodigy Finance, said, “With thousands of Indian students going to the US, UK, Germany, Australia, and other countries, financing is key to making these dreams happen. Whether applying with or without a co-signer, the objective is to provide financial solutions that enable students to focus on their education and career.”
Having a co-signer also increases approval chances, making financing more accessible for students who may not qualify for other loans due to limited credit history or income restrictions.
Co-signer loan repayment is a shared responsibility between the borrower and the co-signer, meaning both parties need to ensure timely payments. Any missed payment will impact the credit score of both, so it’s important to understand the obligations before applying. But for those who have a financially stable co-signer, this can save a lot of interest over time as it has lower interest rates.
Higher education abroad is a significant investment, and having the right financing partner can make all the difference. With competitive interest rates and no collateral requirements, Prodigy Finance continues to create opportunities for Indian students to achieve their academic ambitions without financial barriers.
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