Sonal Kapoor, Global Chief Business Officer at Prodigy Finance, said the move addresses families already stretched by enrollment deposits, currency pressure and urgent visa timelines.
Indian students preparing for Fall 2026 overseas admissions are entering a critical financial period, with visa appointments filling quickly, university deadlines nearing and enrollment deposits already paid or due for many families.
Prodigy Finance has introduced a deposit relief initiative for eligible Indian students who have already paid their university enrollment deposit. Under the initiative, the deposit amount will be added to the student’s loan and disbursed as a living expense, giving families access to funds during a period of high study abroad costs.
The company, an international student lender authorised and regulated by the Financial Conduct Authority in the United Kingdom, said the initiative is aimed at students facing pressure from tuition payments, rent, daily expenses, currency movement and limited time before the Fall intake.
Sonal Kapoor, Global Chief Business Officer at Prodigy Finance, said, “This is the moment in the cycle where students are the most committed they have ever been and the most financially stretched they have ever been at the same time. With the rupee where it is today, even a deposit that looks manageable on paper can feel like a significant sacrifice for an Indian family. The deposit is already paid. The family has already felt that. We wanted to acknowledge that reality and offer something that brings relief.”
The company said Indian students are facing pressure from several directions as Fall 2026 nears. Funding applications are rising, currency fluctuation is increasing the rupee cost of tuition and living expenses, and many families are drawing from savings to cover the difference between earlier budgets and current requirements.
The release also noted that traditional lenders may require collateral and co signers, which can be difficult for some families to provide. Prodigy Finance assesses loans based on future earning potential and academic merit, rather than only on family assets or current financial circumstances.
Sonal Kapoor added, “Most of the students who come to us are from humble backgrounds. They do not have assets to put up as collateral and they do not have someone who can co sign for them. And they should not have to. What they do have is merit, a strong academic record, and a clear sense of where they want to go. That is what we look at.”
Repayment begins only after graduation, with a six month grace period. The loan amount is paid directly to the university, reducing the need for families to handle large international transfers during the admission process.
Founded in 2007, Prodigy Finance has supported more than 47,000 master’s students from over 150 countries and has disbursed more than $2.6 billion in funding to date. India is among its supported markets.
Students interested in the deposit relief initiative can check eligibility through official Prodigy Finance channels, including the company website, official telephone helpline and WhatsApp. The company said only applications received through official channels will be considered to help protect students from fraud and ensure applications reach the correct team. The deadline is 30 June 2026.
Loan offers are subject to eligibility, funding and credit assessment criteria. The representative variable APR is 13.12 percent, based on a total credit amount of USD 41,680, which includes USD 40,000 borrowed and a 4.2 percent admin fee, repayable over 180 months at a variable interest rate of 11.99 percent.
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