Disbursement challenges with local funding for MS in the US Image
Financial guidance

Disbursement challenges with local funding for MS in the US

Prodigy Finance (Rishabh Goel)
3 mins read

Many students pursue an international master’s programme to advance their careers or pursue additional research in their field. International study provides networking opportunities, a chance to explore cultures and learn languages, and offers an array of career choices after graduation.

With an incredible variety of top-ranked universities, the United States easily attracts talented students from across the globe. It’s not surprising that we’ve seen an exponential growth in number of Indian students going to the States for master’s education.

Study abroad offers professional, personal, and financial growth. But, it also involves substantial financial expenditure. Some students are lucky enough to self-finance their education, but many must consider loans from financial institutions or private lenders.

With the increase in international students, there’s also a rise in the number of educational loans and scholarships offered. International grad school is better accessible as more students opt for educational loan to their international studies.

Prodigy Finance offers financing to qualified international students at top schools. Using an innovative global platform, loans are dispersed in dollars, pounds, or euros - depending on study destination. And, these funds are dispersed directly to the university as per agreements with supported schools. Contrast this with the difficulties faced by students pursuing loans from financial institutions in offering rupees, rand, or rubles which students must then convert and transfer accordingly.

Local loans versus Prodigy Finance loans


Local loan disbursement

Prodigy Finance loan disbursement

Loan disbursement

Students must follow up with the lender to ensure fees are disbursed according to the payment schedule.

Prodigy Finance manages all disbursements directly to schools on due dates as per the loan agreement.

Transaction charges

Lenders typically charge students for Forex transactions.

No transaction fees.


Interest charges

Lenders charge interest from disbursement date.

Prodigy Finance charges interest from disbursement date.


Local lenders offer education loans in local currencies irrespective of the currency required by the university. Exchange rate fluctuations affect the cost of education and pose budgeting risks.

Prodigy Finance loans are disbursed in USD, GBP, or EUR currencies depending upon the country of study, minimising exchange and budget risks.

Additional challenges associated with local loan disbursal for higher education abroad:

  • Students must make an application for loan disbursement according to the university fee schedule with their lender and are responsible for following up with their lender to ensure timely disbursement.
  • Students must coordinate between the lender and the university.
  • Students typically must initiate fresh applications every semester while simultaneously tracking payment dates late charges or missed payments.
  • Students bear the burden of forex charges each semester for fee payments and living expenses.
  • Currency fluctuations pose financial risks and affect budgeting.

Of course, financial institutions in different parts of the world operate according to their own regulations, and it may just be that your local bank can provide you with the best possible educational loan.

There are pros and cons to every decision you must make; fortunately, Prodigy Finance provides that choice and – in many cases – makes it possible for more students to pursue an international education.

 Take a look at the schools Prodigy Finance supports or start your application now.

Note: This is a featured article. This article is not curated by Yocket.

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