The Prodigy Finance platform, which offers loans and scholarships for international students, believes that education should be accessible to everyone. In an effort to promote this principle, the platform provides financing to international Masters students so that they achieve their goals of going to do a top Masters degree abroad.
In 2017, Prodigy Finance introduced a new annual ‘Scholarship’ Programme and awarded ten USD 10,000 scholarships to Prodigy Finance-funded students in the form of debt write-off.
So far, the funding scheme seems to be changing lives. Marina Chumakova, MBA candidate at University of Chicago’s Booth School of Business (US) and 2017 Prodigy Finance scholarship recipient, said:
“This scholarship will reduce the pressure that I currently have with graduating with the debt, and it will indeed accelerate the time that will be required for me to move towards my goal – establishing my own impact investments business."
Prodigy Finance, which was set up by three INSEAD MBA graduates in 2007, is continuing the trend with ten new scholarships for Prodigy Finance borrowers. And, once again, each recipient will be awarded USD 10,000 to assist them in funding their studies.
Scholarships are awarded based on a combination of merit, skills, financial need, and a written motivational paragraph showing the positive impact of the experience. Anyone who has reached the “loan approved” status with Prodigy Finance before 26 October 2018 can apply.
Women in Tech Scholarship
Prodigy Finance has also decided that it is critical to recognise and raise the contribution women make in the engineering world. Having expanded the number of programmes supported by the platform, Prodigy Finance is able to increase women’s accessibility in STEM-related fields (even when courses technically fall under business colleges).
Arushi Sharma, Prodigy Finance-funded student pursuing a Master of Engineering Management at Dartmouth College’s Thayer School of Engineering (US), reflected on her experience: “Seeing all-female teams in my class work on industry-relevant projects such as clean coal technology and industrial IoT last term, I have certainly observed the inclusion of more women in this school and this field.”
In an effort of taking this further, in 2018, Prodigy Finance has introduced an 11th scholarship aimed specifically at women pursuing a degree in a STEM-related field.
Just like the General ‘Scholarship’ Programme, the Women in Tech Scholarship award takes the form of debt write-off. The application process and the final decision are conducted in the same way as for the other scholarships offered by the platform.
“My journey would not have started if Prodigy didn’t help me with my finances. At a time when I was struggling hard to gather finances, this scholarship saved me from all my stress. Not only is it USD 10,000 less to repay, but it allows me to consider my plan of pursuing my PhD as well,” said Kaushiki Dutta, who is pursuing her MS in Business Analytics and Programme Management at the University of Connecticut’s School of Business (US).
Do you want to know more about the 2018 Prodigy Finance scholarships? Get all the information you need here.