Fund your international LLM degree with a student loan from Prodigy Finance (2023)

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How does this work?Where can I study?Study centreI need help

Fund your international LLM degree with a student loan from Prodigy Finance (1)

Fund your international LLM degree with a student loan from Prodigy Finance (2)

Apply for a flexible student loan from Prodigy Finance, and study an international LLM programme at the world’s best schools.

Finance your LLM degree with Prodigy Finance

An LLM (Legum Magister) degree, or a Master of Law, is an advanced postgraduate degree that’s usually completed in a single year of full-time study, and is designed to equip candidates with knowledge in a specialised field of law - often in international or tax law.

An LLM degree enables candidates to seek specialised employment and legal training, and many graduates go on to work in multinational legal environments. With Prodigy Finance, you can easily finance your LLM study programme with a flexible student loan from many of the world’s top schools!

An LLM degree opens many career opportunities and prospects for graduates, and enables students to specialise in many different areas of law - from criminal litigation, to employment or environmental law - or even maritime law, among others.

With many graduates proceeding to develop multinational experience and international careers, LLM students have a breadth of options to choose from when it comes to selecting courses and potential schools in the US, UK, and further abroad.

With Prodigy Finance’s borderless lending model, you can easily apply for a student loan online - our unique application process enables you to apply for a study abroad loan without collateral in just minutes. To date, we’ve already funded more than 30,000 students who’ve sought an international student education loan.

Apply now

We support 1,000+ great schools

University of Illinois

The College of Law at theUniversity of Illinois Urbana-Champaignoffers an LLM program that’s designed to prepare students with or without any prior legal training to excel in their professional careers, and provides an introduction to the U.S. legal system.

Fund your international LLM degree with a student loan from Prodigy Finance (5)

Fund your international LLM degree with a student loan from Prodigy Finance (6)

University of California Berkeley

The University of California Berkeley’sSchool of Lawprovides a general degree programme designed to prepare foreign lawyers for global practice, and offers customization based on individual interests - and additionally provides certificates of specialisation in several areas of laws.

Fund your international LLM degree with a student loan from Prodigy Finance (7)

Fund your international LLM degree with a student loan from Prodigy Finance (8)

Pennsylvania State University

The Pennsylvania State University’sPenn State Lawschool prepares students for careers in law, government, academics, and non-governmental organisations in their home jurisdictions, with the option for exceptional students to prepare for the New York State Bar.

Fund your international LLM degree with a student loan from Prodigy Finance (9)

Fund your international LLM degree with a student loan from Prodigy Finance (10)

New York University

TheSchool of Lawat New York University offers a highly customisable LLM programme with the ability to choose from 300+ courses - enabling students to plan a curriculum that meets their professional interests.

Fund your international LLM degree with a student loan from Prodigy Finance (11)

Fund your international LLM degree with a student loan from Prodigy Finance (12)

University of Pennsylvania

The University of Pennsylvania’sLaw Schooloffers The Penn Carey Law LLM programme - a full-time academic program designed for lawyers trained outside the United States. The programme enables students to customise their curriculum to focus on a specific area of law or to explore new interests.

Fund your international LLM degree with a student loan from Prodigy Finance (13)

Fund your international LLM degree with a student loan from Prodigy Finance (14)

Columbia Law School

TheColumbia Law Schoolat Columbia University offers a general LLM degree with multiple customisation options, and is tailored for students interested in exploring new fields or transitioning to a new area of practice.

Explore more schools

Where can I study an LLM degree with Prodigy Finance?

We’re proud to partner with hundreds of universities and schools worldwide - and regardless of whether you have a school in mind or would like to explore your options further, you canbrowse our entire catalogueof supported schools to find the right option for you.

How does Prodigy Finance’s loan application process work?

Our application process is simple, and takes just a few minutes.

  • Once you’ve created your account and provided us with some basic personal information, we’ll be able to review your application and present you with a personalized and non-binding offer.
  • You’ll have up to 14 days to accept your quote and upload your supporting documents.
  • Once your documents have been reviewed and verified, you’ll be matched to funding in one of our matching rounds - after which we’ll send your loan confirmation letter, and you can then proceed to secure your international study visa. If you’re attending a school in the US, your school will need to confirm your loan before we can send you your loan agreement to sign.
  • You’ll then sign your application agreement on reaching your country of study, and after we’ll countersign.
  • Your loan will be disbursed directly to your school - meaning you won’t need to worry about complex international transfers when arranging funds for your study abroad journey - and you’ll be able to begin your studies! As a full time student, you’ll only begin your repayments 6 months after your classes end.
  • Remember - byregistering your Prodigy Finance account, you can submit as many applications as you like. If you receive conditionally approved funding from us for yoursecond period of study, you can also submit a new application for this funding closer to your class start date of your second period!

Am I eligible to get an international student loan?

We’re able to finance students from 150 different countries - and regardless of which of our supported schools you intend to apply to, we can assist you with an international student loan so long as you meet some basic eligibility criteria.

Broadly, you’ll need to be seeking admission to a school and programme we support, you must be seeking to study your masters abroad, and you must reside in a country we support.

Why go with Prodigy Finance?

Starting at 11.06% APR

Our accessible student loans give you the flexibility to manage your studies. You only begin repaying your loan 6 months after your graduation.

No collateral or co-signer needed

With us, you don’t need to place a deposit nor do you need a co-signatory to secure your loan.

Get an immediate offer

Once you’ve finalised your application, we’ll present you with a customised offer in just ten minutes.

Covers cost of tuition and living expenses

Your Prodigy Finance student loan covers your course fee, accommodation and other expenses.

Here's a representative example

Education loan amount example

Amount borrowed

USD 36,312


5% admin fee

USD 1,816


Amount financed

USD 38,128

Interest rate example

We use a variable simple interest rate which tracks a fluctuating benchmark rate. The interest rate includes a fixed margin tailored to your application and the benchmark rate that will change throughout the life of the loan. We use3-month CME Term SOFRas this benchmark.

Fixed margin rate



3-month CME Term SOFR



Variable interest rate


Education loan repayment example

Monthly amount due

USD 590.18


Repayment period

15 years


Total amount payable

USD 106,233.13




APR (Annual Percentage Rate) is a rate that shows your total cost of borrowing, including the interest rate and any fees or additional costs. When comparing education loan offers from different lenders, it’s best to use APR rather than monthly interest rate. Your monthly interest rate will always be lower than APR because it only represents part of the total cost of your loan.

Watch this video to find out more

Terms and conditions

11.06% is the minimum possible Annual Percentage Rate you could be offered. This APR assumes a 4.98% fixed margin rate, a 4.89%** variable base rate (3-month CME Term SOFR as of 6 April 2023), and a 5% administration fee. The actual rate offered will depend on your circumstances, loan amount and term, and may differ from the minimum and/or the average representative APR shown in our representative example above.

The average APR for student loans is 14.96%.

To qualify, borrowers must meet Prodigy Finance eligibility and underwriting requirements.

Prodigy Finance reserves the right to vary or discontinue its student loan product at any time without notice.

* Benchmark rates shown on this page are rounded to 2 decimals of a percentage for illustrative purposes. For the actual rate used,click here.

Questions? We have answers

Have queries about financing your studies, what documents you need in order to apply for an LLM programme loan as an international student, or need assistance in completing your application? We’re here to help. Explore oureasy-to-use FAQs, or chat to a member of our team directly from yourProdigy account dashboard.

Visit our FAQs


What is the interest rate on Prodigy International student loan? ›

Terms and conditions. 11.06% is the minimum possible Annual Percentage Rate you could be offered. This APR assumes a 4.98% fixed margin rate, a 4.89%* variable base rate (3-month CME Term SOFR as of 6 April 2023), and a 5% administration fee.

Is Mpower financing legit? ›

MPOWER Financing specializes in offering private student loans to college students who may have difficulty getting approved by other lenders. However, the lender has some restrictions that can make it difficult for otherwise eligible borrowers to get approved. MPOWER has a good reputation for customer satisfaction.

Can international students borrow loans? ›

Yes, international students can apply for student loans

However, international students can borrow money from a private lender – this will be a pre-defined, fixed amount or your school-certified cost of attendance, depending on the lender.

How to get education loan in USA for international students? ›

  1. Loans are available in all 50 states.
  2. International students must have a creditworthy co-signer who is a U.S. citizen or permanent resident.
  3. You must be enrolled at least half-time in a degree-granting program at an eligible institution.
  4. You cannot have any prior student loan defaults.

Is prodigy finance accepted for US visa? ›

Once your application has been successfully matched to funding, you'll receive a letter confirming your loan. You can use this letter of approved funds for your visa appointment. Please keep in mind that the letter doesn't guarantee that your visa application will be successful.

What is the maximum amount of money you can get from Prodigy Finance? ›

Prodigy Finance allows you to borrow up to 100% of the school-certified cost of attendance, and you have up to 20 years to repay your loan. The loans are specifically designed for international graduate school students who are studying abroad.

What is the monthly payment for MPOWER? ›

All payments are made on-time, a forbearance is never utilized, and there is no pre-payment of any principal. At an APR of 15.01%, the monthly payment amount is $122.41 for the first 30 months.

Can I repay my MPOWER loan early? ›

You'll make fixed payments until the loan is paid off. However, you can make extra payments and pay off your student loan early. MPOWER Financing doesn't charge prepayment penalties, so paying off your debt ahead of schedule can help you save money.

Is student loan forgiveness real or fake? ›

Unfortunately, private student loan forgiveness doesn't exist. However, you do have other relief options, such as deferment or forbearance (depending on the lender) or student loan refinancing. You can use our calculator below to see how much you could save by refinancing your student loans.

Does Sallie Mae give loans to international students? ›

International students can borrow from Sallie Mae if they have an approved cosigner. Sallie Mae allows for deferred, interest-only, or fixed repayment options while in school and after graduation.

Which bank gives best student loan? ›

Summary: Best Education Loan in April 2023
CompanyForbes Advisor RatingInterest Rate Range
State Bank of India4.58.30% to 11.50%
Punjab National Bank4.58.55% to 11.25%
Bank of Baroda4.09.10% to 12.45%
ICICI Bank4.09.50% onwards
1 more row

Can I get a federal loan for an international school? ›

Federal student loans for international schools

U.S. students can use the same federal student loans available at stateside schools to pay for their international programs. Over 750 international schools participate in federal student loan programs.

How much loan can I get as an international student? ›

International student loans may cover up to 100 percent of the cost of education, including tuition, books, supplies, housing and more, so they're a good option if you're having trouble paying for your education on your own and have maxed out scholarship or grant opportunities.

How much loan is needed for Masters in USA? ›

Frequently Asked Questions
FactorsAmount in USD (approx.)Amount in INR (approx.)
Study Abroad Prep (GRE+Application etc.)2,7002,00,000
Tuition +Food+ Housing+ Miscellaneous55,00040,00,000
Total58,00042,00,000 approx.

How much student loan can I get for Masters in USA? ›

Secured education loan for MS in the USA
Lender NameMaximum Loan Amount (in INR)Margin Money
SBIUp to 1.5 Cr10%
UBIUp to 1.5 Cr10% (listed university) 15% (non-listed university)
4 days ago

How do I prove my fund to study in USA? ›

Evidence of Financial Ability

Family bank statements. Documentation from a sponsor. Financial aid letters. Scholarship letters.

Who can sponsor me to study in USA? ›

For students willing to study in the US, parents and relatives can very well be accommodated as sponsors. Applicants can also look for education loans to sponsor their study in the US. In some cases employers can also sponsor F-1 visa provided they are ready to employ applicants post their study abroad.

Who can sponsor me to USA for studies? ›

First-degree relatives; mothers, fathers, wives, and children can also be sponsors. In cases where there is not a first-degree relative, you can present your legal guardian as a sponsor with the necessary documents.

Is Prodigy Finance only for us? ›

You can apply for a Prodigy student loan from anywhere in the world. Well, anywhere you have a secure internet connection. The process is facilitated online, and hard copies of documents aren't required.

Is credit score required for Prodigy Finance? ›

Don't worry - many of our customers do not have a credit history, and it isn't a requirement for our loans.

Can we cancel prodigy loan after approval? ›

You can withdraw your loan application any time before you sign the final loan agreement. There is absolutely no penalty for withdrawing. If your loan agreement has been signed by both us and you, you'll have two weeks to withdraw from the agreement.

What is the interest rate for international students in MPOWER? ›

$250* Note: The figures provided are estimates calculated using a loan term of 150 months and an autopay discount of 0.25%. The interest rate and APR for graduate degrees is 12.74% (13.72% APR); for undergraduates it is 13.74% (14.75% APR) For detailed information about these assumptions, click here.

What is the average monthly student loan bill? ›

The average monthly federal student loan payment for recent bachelor's degree-recipients is $278. People generally borrow more and have higher interest rates for graduate degrees. Therefore, their monthly payments are higher. Average federal student loan payments for master's degree-holders are about $572 a month.

Who owns Mpower financing? ›

MPOWER was founded in 2014 by Manu Smadja and Mike Davis, two former international students with a shared dream: to remove the financial obstacles students often face when pursuing an international education. To do this, they would make loans based on a student's future potential — not their past.

Can you cancel Mpower? ›

In compliance with the U.S. Truth in Lending act, MPOWER observes a rescission period after your final loan documents are signed. During this time, you may cancel your loan agreement for any reason by contacting us. MPOWER uses a 4 business day rescission period.

How to repay student loan in usa? ›

You can make payments before they are due or pay more than the amount due each month. Paying a little extra each month can reduce the interest you pay and reduce the total cost of your loan over time. Contact your loan servicer to discuss these options.

Are there any legitimate student loan forgiveness programs? ›

There are real federal loan forgiveness programs out there, including Public Service Loan Forgiveness (PSLF) and Teacher Loan Forgiveness. But many companies will try to take advantage of borrowers by guaranteeing immediate results or requesting money up front for services they cannot provide.

What are some legitimate student loan forgiveness programs? ›

Student loan forgiveness programs
  • Income-driven repayment forgiveness. The federal government offers four main income-driven repayment plans, which allow you to cap your loan payments at a percentage of your monthly income. ...
  • Public Service Loan Forgiveness. ...
  • Teacher Loan Forgiveness. ...
  • Student loan forgiveness for nurses.
May 1, 2023

Has anyone received the student loan forgiveness money? ›

The U.S. Department of Education has “fully approved” more than 16 million people for federal student loan forgiveness and sent their applications to loan servicers, the Biden administration announced Friday.

How do international students pay for college? ›

However, international students cannot apply for the federal financial aid program. As a result, international students typically rely on private loans to pay for college. Banks, financial organizations, and schools all offer private student loans. Each lender sets different terms for taking out a loan.

Can international students use SoFi? ›

To qualify, a borrower must be a U.S. citizen or permanent resident in an eligible state and meet SoFi's underwriting requirements.

How to get a student loan as an international student without a cosigner? ›

To apply for private international student loans that don't require a cosigner, you will usually need to be studying a postgraduate course or be in the final two years of an undergraduate degree. You will also need to be attending an eligible school or university, and meet the lender's other criteria.

Which bank has lowest interest rate on international education loan? ›

1. The State Bank of India: SBI Global Ed-Vantage Scheme. The Global Ed-Vantage education loan scheme is one of SBI's premier student loan schemes for students wishing to study overseas. Under this scheme, students are offered some of the lowest interest rates to fund their education.

What bank do most college students use? ›

  • Our Top Picks.
  • Chase Bank College Checking Account.
  • Capital One MONEY Account.
  • Bank of America Advantage Banking.
  • Discover Cashback Debit Account.
  • PNC Virtual Wallet Student Account.
  • Truist Student Checking Account.
  • U.S. Bank Student Checking Account.

What is the most common student loan? ›

The most common federal loan is the Stafford loan. Stafford loans offer fixed interest rates, meaning the interest rate stays the same from the time that you take out the loan until you pay it in full. There are two types of Stafford loans.

Can international students get private loans in the US? ›

International students can get private student loans, but they can't get federal student loans, as those are only available to U.S. citizens and eligible noncitizens. “Eligible noncitizens” primarily refers to permanent residents in the United States and not to international students.

Can a non US citizen get a student loan? ›

Undocumented students, including DACA recipients, are not eligible for federal student aid, but you may still be eligible for state or college aid, in addition to private scholarships.

Does Bank of America have student loans? ›

Bank of America doesn't offer student loans, but you have multiple other lenders to consider if you need to borrow money to cover your college expenses. It's important to compare your options when looking for a private student loan that meets your needs.

How much money can you take as a student loan? ›

If you are an undergraduate student, the maximum amount you can borrow each year in Direct Subsidized Loans and Direct Unsubsidized Loans ranges from $5,500 to $12,500 per year, depending on what year you are in school and your dependency status.

Can I get funding for a Masters in USA? ›

There are two main types of Masters funding available from universities in the USA: Scholarships are awarded to cover the cost of tuition fees, though some also include a grant or regular stipend to help pay for accommodation and living costs.

How to get international student loan in USA? ›

Most international students must have a US co-signer in order to apply for a student loan. Although there are no co-signer loan programs at select schools in the USA and Canada, almost all international students will require a co-signer. A co-signer is legally obligated to repay the loan if the borrower fails to pay.

How much does a master of finance graduate earn in USA? ›

Master of Science (MS), Finance Jobs by Salary
Job TitleRangeAverage
Job Title:Financial AnalystRange:$53k - $87kAverage:$67,819
Senior Financial AnalystRange:$68k - $106kAverage:$85,642
Finance ManagerRange:$80k - $140kAverage:$112,383
Vice President (VP), FinanceRange:$95k - $195kAverage:$145,851
3 more rows

What is the max FAFSA for masters degree? ›

$138,500 for graduate or professional students-No more than $65,500 of this amount may be in subsidized loans. The graduate aggregate limit includes all federal loans received for undergraduate study.

How do I get a 100% scholarship for Masters in USA? ›

Types of Scholarships for MS in USA
  1. Apply for Scholarships before the deadline- ...
  2. Meet the Eligibility Criteria- ...
  3. Ask your target schools about scholarships- ...
  4. Class 10th or 12th grades Do Not matter- ...
  5. GMAT/ GRE scores are Important- ...
  6. Showcase Leadership and Volunteering skills- ...
  7. Prove your proficiency in the English Language-
Apr 5, 2023

Can you get loan forgiveness for Masters? ›

Debt accrued from graduate loans is eligible for forgiveness, so long as it's a federal loan held by the Department of Education.

What is the interest rate for Mpower? ›

$250* Note: The figures provided are estimates calculated using a loan term of 150 months and an autopay discount of 0.25%. The interest rate and APR for graduate degrees is 12.74% (13.72% APR); for undergraduates it is 13.74% (14.75% APR) For detailed information about these assumptions, click here.

What is the normal student loan interest rate? ›

Among all existing borrowers, 5.8% is the average student loan interest rate. For new undergraduate loans, the current federal interest rate is 4.99%. All federal loan interest rates have been temporarily set to 0% until June 30th, 2023; 92.7% of all student loan debt is federal.

What is the real interest rate on student loans? ›

If you're still borrowing for your education, the federal student loan interest rate for undergraduates is 4.99% for the 2022-23 school year. Federal rates for unsubsidized graduate student loans and parent loans are higher — 6.54% and 7.54%, respectively.

What is finance charge on a prodigy loan? ›

High interest rates: Other lenders offer APRs starting at 2.99 percent, while Prodigy Finance's APRs start at 9.54 percent. The company also lacks a fixed-rate interest option, which means your payments can go up, depending on market conditions.

Can I repay my prodigy loan early? ›

Can I repay my loan early? The short answer is, Yes! There is no penalty for making early payments toward your loan. You're welcome to do this during your study period, grace period, or simply make extra payments during the repayment period.

Do student loans go away after 7 years? ›

If the loan is paid in full, the default will remain on your credit report for seven years following the final payment date, but your report will reflect a zero balance. If you rehabilitate your loan, the default will be removed from your credit report. Q.

Can I negotiate my student loan interest rate? ›

If you have private student loans, you may be able to negotiate a lower interest rate with your lender. This is especially true if you're struggling to keep up with your monthly payments or if you plan to refinance and want to give your lender a chance to match.

How much is the average student loan payment per month? ›

The average monthly federal student loan payment for recent bachelor's degree-recipients is $278. People generally borrow more and have higher interest rates for graduate degrees. Therefore, their monthly payments are higher. Average federal student loan payments for master's degree-holders are about $572 a month.

Why is it so hard to pay off student loans? ›

If you're wondering, why do student loans take so long to pay off? Capitalized interest may be the culprit. Complicating the issue is the fact that borrowers who opt for an income-driven repayment plan after graduating may not be earning enough to keep up with the total interest accrued.

What will student loan interest rates be in 2023? ›

The new interest rates for 2023-24 federal student loans disbursed on or after July 1, 2023 will be: 5.498% for undergraduate Federal Direct Stafford Loans. 7.048% for graduate Federal Direct Stafford Loans. 8.048% for Federal Direct Grad PLUS Loans.

Do student loans affect credit score? ›

Student loans are a type of installment loan. Like other loans, student loans appear on your credit report. As a result, they can play an important role in helping you build credit history and will impact your credit score in various ways.

Is prodigy loan legit? ›

Prodigy Finance is an excellent choice if you don't have access to more affordable international student loans. However, it's far from your cheapest option.

What happens if I default prodigy loan? ›

What happens if my loan goes into default? If your loan is in default, we will terminate the loan agreement we have with you and begin legal proceedings to recover the outstanding balance. Please note that the option to request a payment arrangement is no longer available once your loan has defaulted.


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