Complete the application as if you are about to start your studies (even if you are already studying).
After selecting the school and course you want to attend and completing personal and contact information, you will be asked to provide the following information:
1) Budget: Please complete the budget section as if you are about to start your studies (even if you are already studying). Our Credit Committee will need to see how you intend to finance the full cost of your education. Your budget must, therefore, include:
- Full tuition (reservation/commitment fees, deposits, and any payments already made to the School)
- Living costs for the entire year
- All sources of funding (including scholarships or tuition discounts offered by the School) which will make up the total budget
- a) If you are a prospective student, kindly provide us with the breakdown of your estimated finance plans for EACH year. Complete your first year budget in the Primary Budget section and your projected second year budget in the Secondary Budget
- b) If you are already studying and about to enter your second year of studies, complete your first year budget with full details of how you financed your first year of study (loans, savings, scholarships, etc.). Then provide us with the estimated budget and finance plans for your second year of studies. In this case, fill out your estimated second year budget in the Primary Budgetsection, and your first year budget in the Secondary Budget
Note: If your budget includes any other loans additional to and apart from the Prodigy loan, you must state the source and repayment terms (amount, rate, and repayment period).
2) Income: Provide full details for at least the last 3 years of your employment history. If you have been working for less than 3 years, please provide your entire work history.
Also, provide the details of your latest gross monthly salary (PRE-STUDY salary) on the Income section of your application. If you are currently unemployed, please share what you have been doing since your last employment ended. You can add this information in the field for Additional Information at the end of your application.
3) Liabilities: Ensure that the liabilities section reflects ALL debts (loans, credit cards, other forms of financing) that you currently hold, EXCEPT loans already included in the Budget section. Please state the source and repayment terms (amount, rate, and repayment period) of any loans currently outstanding.
4) Assets: Include all assets that you currently hold in your name, regardless whether you will be using these assets to fund your studies or not.
5) Additional Info: Provide us with a work email address for both a family and professional reference. These references are used for character reference only; references are not used as financial guarantors.
Should you receive a loan offer, we may contact your next of kin by phone. Please ensure we have the correct email and contact number, including the international dialling code, and that this person can comfortably hold a conversation in English.
Should you receive a loan offer, we may contact your next of kin by phone. Please ensure we have the correct email and contact number, including the international dialling code and that this person can comfortably hold a conversation in English.
Getting ‘Pre-Approval’ for your 2nd year loan when applying for your 1st year loan
Should you be granted approval for your first-year loan from us, we will also inform you if you have PRE-APPROVAL for a loan for your second year, and the maximum loan amount. Pre-approval is based on the estimated budget details provided in your current application. However, please note that as your second year approaches you will need to provide a new application for FINAL approval on your second year loan.
Prior to final approval of the second year loan amount, you must provide any updates to your budget and expenses, and inform us of any changes to your financial situation. This benefits us, you as the student, and the school. For example, if you want to ask for a higher loan amount for the second year, and you have a job offer to show us, these changes may impact the loan offer granted for the second year.