prodigy finance review refinance student loan save interest rate

Prodigy Finance Review – Refinance F1 Student Visa Loan to Save Money

Can you save money by refinancing your International student education loan by refinancing with Prodigy Finance?

So, let’s find out. Shall we?

If I were to refinance my education loan from India. I would be looking for the following factors

  1. Can I save money?
  2. What will be the interest rate?
  3. What are the payment terms?
  4. Do I qualify for the loan refinance?
  5. What is the duration of the new loan?
  6. Can I build my credit history?
  7. Is the process of loan approval going to be tedious?
  8. Would I be able to repay the loan without any penalty?
  9. What documents are required to get the loan approval?
  10. I don’t have a co-signer in the USA, can I still get a loan?
  11. I don’t have a high credit score, can I still get refinance education loan?

And you would probably have more questions.

Even though I have a bunch of question, I will start the Prodigy Loan Refinance process by asking this simple question.

  • Can I save money?
  • How much money can I save by refinancing my loan?

If that math doesn’t work out, then I’m going to look for other options. So, I set out to find out how the Prodigy Finance Loan refinance works.

Related Resources:

Prodigy Finance Review

I recently hosted a live webinar with Prodigy Finance to provide a detailed look at the following:

  • Overview of Prodigy Finance
  • Overview of No-Cosigner International Student loan refinance
  • Interest Rates and Fees for Loan Refinance
  • Prodigy Finance Loan Refinance Application Process
  • Questions and Answers from the Live Session attendees

In this article, you will find the hour-long interview following by live questions and answers from the live attendees split into five parts.

1. No Co-Signer International Student Loan

2. Prodigy Finance – Interest Rates – LIBOR

This is going to be the essential section of the interview.

I want to know the interest rates and how the interest rate is calculated and how much money I can save.

3. Why Prodigy Finance for Loan Refinance

A quick walkthrough of the full student loan refinance application process.

You can essentially complete the entire application in less than 10 minutes.

If your University or the State where you reside doesn’t qualify, you can contact them.

4. Loan Refinance  – Required Documents

You will notice that the Social Security Number is an Optional field in the Prodigy Finance Loan refinance process.

But, you are required to provide a copy of the Credit Report.

You can get the Credit Report for free from most of the Credit Card companies.

For instance, if you a Credit Card from Discover Bank, you should be able to login into your account and get a free copy of the Credit Report.

If your Credit Card company doesn’t provide, there are sites like Credit Karma that can give your credit report for a small fee.

5. FAQ’s about F1 Visa Students Loan Refinance

In part 5, the following questions were answered.

  • Sandeep
    • Is there a minimum amount that we need to refinance?
  • Hemant
    • I am in STEM OPT valid till Jan 2021. Can I avail the loan for a longer term? i.e., for more than five years?
      Is there any unemployment protection?
      Do we have to pay the full “total repayment amount” even if we are paying off early?
  • Nikita
    • If I apply for Prodigy finance loan today (I am currently living and working in the U.S.A.) but if in future I change my residence country, will it affect Prodigy loan?
    • Do you guys have a live chat or email options to ask questions in case we have specific questions regarding the process?
  • Vimal
    • What if my student loan is paid, but have credit card debt?
    • Is there any term for less than seven years?
  • Hemanth
    • I couldn’t see California in the states mentioned. Is there an effort to provide service in California as well? If so when can I expect?
    • What is the primary factor in getting the low fixed part of interest?
    • Can we change the monthly payment amount?
  • Raju
    • My school is listed but what to do if I still get a message that prodigy finance doesn’t support your school.

 

 

Disclosure:  Please note that this is a Sponsored Post and links are affiliate links, and at no additional cost to you, I will earn a commission if you apply for a loan refinance.   Please understand that I recommend the products because I believe in them. And I recommend them because they are helpful and useful, not because of the small commissions I make if you decide to buy something.  

You can see for yourself about the interview and questions from the readers and answers discussed. Do the math to see if you can save money by refinancing your education loan from your home country. If you are not sure if you can save money, then it would take 10 minutes to complete the application and you can find out your actual interest rate and that will show how much you can save.

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