International student lender Prodigy Finance has opened early access to over 400 global universities, including prestigious institutions like Harvard, MIT, and Oxford, for its Spring intake. The move is a direct response to a year of “unpredictable” student mobility, offering Indian applicants a merit-based, currency-de-risked pathway to secure funding and bypass the crowded autumn admission cycle.
De-risking the study abroad route
The initiative directly addresses the challenges faced by Indian students, which recently included tightened funding options due to the depreciation of the Indian Rupee and visa uncertainty. By offering loans in USD, Prodigy Finance enables students to mitigate currency fluctuations, while the merit-based model removes the traditional need for a co-signer or collateral, assessing applicants solely on their future earning potential.
Sonal Kapoor, global chief business officer at Prodigy Finance, commented that the early Spring application window is a direct response to the unpredictable period just passed, where a significant number of students had to defer because visa appointments closed too quickly or funding deadlines were missed. She explained that the Spring intake offers applicants a clearer route, allowing them to secure funding and plan visas before the volume of applications rises again.
Expanding access and meritocracy
The early Spring access includes top universities across the US, UK, Germany, and Canada. Prodigy Finance also highlighted that its model is equipped to support the sharp rise in applications from students originating from Tier 2, 3, and 4 cities, a demographic that experienced significant growth in applications last year.
Ms. Kapoor added that the shift helps dismantle old assumptions. She emphasised that no major study destination uses the hierarchy of Indian undergraduate colleges in admissions or visa rules, noting that talent matters across borders, and background does not. With over 1.33 million Indians now enrolled in programmes overseas—the highest government record to date—Prodigy Finance is focused on ensuring equal opportunities across institutions, allowing students to step forward with confidence.