Follow

When does interest start to accrue on the loan?

Interest begins to accrue when your funds are sent to the school. 
Interest is only calculated on funds that have already been disbursed - i.e. Prodigy Finance has sent them to the school. If your loan has multiple disbursements, we only calculate interest accrued on funds that have already been sent, not the total loan amount at once.

In addition, and in line with a new product roll out in July 2017, interest is only calculated on the principal balance of your loan account.

Was this article helpful?
9 out of 9 found this helpful
Have more questions? Submit a request

0 Comments

Article is closed for comments.