International #StudentLoan: #ProdigyFinance student loan & #MPowerFinance (Part 1) | Ep #10 i finance loan

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‘International Student Loan: MPower finance & Prodigy finance student loan- Part 1’ is the first part of the 10th episode of our web-series. Start your abroad education loan process by requesting a call back @

Our Financial officer will get back to you and assist you until the sanction. All the services offered by WeMakeScholars are free of cost as this initiative is supported by the IT Ministry, Govt. of India.

This episode is divided into two parts for our audience to have a better understanding. The first part will discuss MPower Finance & Prodigy Finance student loan policies and why going for nationalized banks and local NBFCs is advised for Indian students. This episode will focus on the following major points:

– Types of International lenders (1:11)
– Prodigy Finance (2:04)
– MPower Finance (2:40)
– International NBFCs Vs. Indian Banks/NBFCs: A detailed comparison (3:26)
– Drawback 1: Processing Fees (3:34)
– Drawback 2: Floating Interest Rate (4:49)
– Drawback 3: Income tax exemptions (7:34)

Other reference links from the episode:
LIBOR forecast:

Loanflix is the most comprehensive web-series on abroad education loans. The motive is to empower students and their guardians so that they can take an informed decision about the education loan. The titles of our previous 9 episodes in this series and their links are as follows:

#1. Introduction to study abroad education loan –
#2. Secured education loans –
#3. Abroad Education Loan without collateral –
#4. Documents for Education loan –
#5. SBI education loan for abroad studies –
#6. SBI Education Loan- Documents, Process & Timeline –
#7. Bank of Baroda Education Loan for abroad studies –
#8. Education loans from Government Banks, Issues and solutions –
#9. Unsecured education loan from NBFCs – An overview –

We hope that the information shared in this episode regarding MPower finance and Prodigy Finance student loan policies has helped you in one manner or other. There is more to come in the 2nd part of this episode. So don’t miss episode #10.2 titled,

‘International Student Loan: MPower & Prodigy finance foreign education loan’ (Part 2)

Please subscribe to our channel for more such Informative videos. Also, do like and share with your friends. Good luck!

Script editor- Arjun R Krishna
Shot, Edited & Directed by Sreeman Reddy
About the Presenter – Damini Mahajan is a visionary entrepreneur and co-founder of WeMakeScholars.com, an education finance start-up for international education. Damini has been mentioned as “Top Women in Tech” by The Asian Entrepreneur. She has also been awarded as the winner of Silicon Valley Challenge by Action for India 2016 and was in Top 75 start-ups in Power of ideas by Economic Times at IIM Ahmedabad.

Stay connected to know more:
– Like us on Facebook:
– Follow us on Twitter:
– Follow and tag us on Instagram:
– Follow us on LinkedIn
– Contact us at hello@wemakescholars.com .

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International #StudentLoan: #ProdigyFinance student loan & #MPowerFinance (Part 1) | Ep #10

International #StudentLoan: #ProdigyFinance student loan & #MPowerFinance (Part 1) | Ep #10

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International #StudentLoan: #ProdigyFinance student loan & #MPowerFinance (Part 1) | Ep #10
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37 comments

WeMakeScholars 16/12/2021 - 6:58 Chiều

Hi everyone! We have created a calculator as requested by many. It will help you to calculate how much extra you would have to pay if you choose to go for a USD loan instead of an INR one. Compare your USD loan to INR across various parameters here https://www.wemakescholars.com/inr-usd-loan-calculator

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Ragingram! 16/12/2021 - 6:58 Chiều

I have a query plz mam.
Let’s say I got loan from m power sanctioned for 47000 dollars and I use 10000 dollars for the first year and how much simple interest should I be paying ??
Should we pay simple interest for the amount we got disbursed or the Total amount sanctioned to me ??
Please help me asap mam
Thank you very much

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Kamil Azam 16/12/2021 - 6:58 Chiều

Mam does m power finance provide amount for gic and for my flight expenses .

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Ayesha Bi 16/12/2021 - 6:58 Chiều

Hello mam i'm from middle class family ,I have collateral but it comes under grampanchayat i want to do my masters in UK I need loan up to 20L can u please guide me

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Sanya Khurana 16/12/2021 - 6:58 Chiều

Hi Ma’am,
Just wanted to check if WeMakeScholars has a tie up with Prodigy Finance and if a loan from Prodigy Finance can be sanctioned via WeMakeScholars?

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AMAL RAI 16/12/2021 - 6:58 Chiều

Hi, very informative video. Can you tell me whether indian nbfc's require collateral?

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ary02n 16/12/2021 - 6:58 Chiều

Underrated Education Information channel 💯🔥🤩

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Thomas John 16/12/2021 - 6:58 Chiều

Libor rates seems low now

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Freak Gamer 16/12/2021 - 6:58 Chiều

do you provide a loan without co-applicant?

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Ashutosh Prajapati 16/12/2021 - 6:58 Chiều

Hello mam how much money I required to study in USA

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Parashar Panchal 16/12/2021 - 6:58 Chiều

prodigy finance website states that they charge 5% of the loan amount as the admin fees. so which is correct, 5% or 2.5%?

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Jitendra Mandal 16/12/2021 - 6:58 Chiều

Can anybody say is it true or fale?and ye loan ke pehle process fee mangte h kya ……plzzz batao

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anish.joshi94 16/12/2021 - 6:58 Chiều

Is there a comprehensive video explaining Discover and Sallie Mae student loans? Need to look at those options as I have some relatives staying in the US.

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Patro Adwitiya 16/12/2021 - 6:58 Chiều

Thanks WeMakeScholar,
1. But the LIBOR(USD) has come down drastically ?

2. In case of Prodigy loan, do a person working on H1B1 get income tax redemption in USA ?

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Aishwarya Reddy 16/12/2021 - 6:58 Chiều

My father retired and recently passed away…I have no co applicant.is there any chances that I can avail Loan with collateral

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Bright ideas 16/12/2021 - 6:58 Chiều

Hello mam, 4 days before.. I have filled the Form …but haven't received any Call yet from wemakescholar …!! Please help

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Mohit Teraiya 16/12/2021 - 6:58 Chiều

Can we get loan from prodigy finance for study in Canada ?

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tom jerry 16/12/2021 - 6:58 Chiều

Do prodigy finance asks for your parents income. If yes how much parents income per annum should have in order to secure loan

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Kshitij Rana 16/12/2021 - 6:58 Chiều

What if I need loan for my expense abroad, but not for fees??

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Munish Kohar 16/12/2021 - 6:58 Chiều

This is gold! Thanks a lot!

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Rohit Pandit 16/12/2021 - 6:58 Chiều

Do any non-collateral loan options exist for countries like Canada , uk?

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Ashi 16/12/2021 - 6:58 Chiều

Can we take this type of loan for other countries like Norway?

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Christy George 16/12/2021 - 6:58 Chiều

Please make a video on how is interest rate is accumulated on the loan amount .

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anna 16/12/2021 - 6:58 Chiều

Helo ma'am, we have a problem with cibil score and property..so I think I have to go for international lenders..will u assist in applying in international lenders?

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anna 16/12/2021 - 6:58 Chiều

Helo maam, can we apply for prodigy finance loan for doing PG Diploma in Canada?

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Sukh Kaur 16/12/2021 - 6:58 Chiều

Hello ,
I am currently doing my bachelor degree and planning to do MBA in Canada from some reputed university costing nearly 40 lakhs
I don't have a colletral please guide! Thankyou

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Ankit Kumar 16/12/2021 - 6:58 Chiều

I had previously been sanctioned a loan of $64k for fall 20 – spring 21. A further loan of $15k was conditionally approved.

I deferred my admit and intimated Prodigy.

I recently received an email from prodigy saying that only $19k has been approved for Spring 21 and $64k was conditionally approved for Fall 21 – Spring 22.

I asked why this was so. Apparently, Columbia is certifying loans on our behalf only for the Spring 21 semester. Kindly help me as I am an international student and it's mandatory for me to take 12 credits per semester that would only cost me around $
26k

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Abdul latheef M 16/12/2021 - 6:58 Chiều

I have try to sign up ur website but I have selected one country it became dropdown

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amit kumar gautam 16/12/2021 - 6:58 Chiều

I guess the whole point in this Video was lost, as the comparison is between Indian NBFCs and Prodigy. The major driving factor between both is the need for atleast a CO-APPLICANT. Hence if you don't have a co-applicant, you can NEVER avail of any loan from Indian NBFC and hence this comparison would not make any sense as Prodigy being the only option.

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zain ul abdin khawaja 16/12/2021 - 6:58 Chiều

Does Prodigy Finance and Mpower Finance provide loans to international applicants?

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zain ul abdin khawaja 16/12/2021 - 6:58 Chiều

Is admission letter for Graduate school sufficient for applying through financing channels like Prodigy Finance and MPOWER Financing?

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Ashwin Moncy 16/12/2021 - 6:58 Chiều

Mam can u please guide me from where I should get my loan. We are from a middle class family and planning for my master's from Canada. And about 20lakh rupees are expected as the overall cost. We don't have anything to show as collateral.

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Rama Krishna 16/12/2021 - 6:58 Chiều

Thank you for such a wonderul video
Is it essential to have a co applicant for unsecured loan ? Also is it essential to pay partial / full intreset during study for an unsecured loan ? If we say , i took 20 lakhs loan then what amount should i pay with partial intreset ?

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Aditya Singh 16/12/2021 - 6:58 Chiều

So taking student loans from SBI or Progidy Finance which one is better as an Indian National??

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Vignesh Baliga 16/12/2021 - 6:58 Chiều

Could I understand why you have ignored the effect of the fluctuating currency in your video?

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Sahil Pathan 16/12/2021 - 6:58 Chiều

Hey can you also compare a loan form Leap finance… They are new so it might help to choose amongst other foreign lenders!

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Yash Patel 16/12/2021 - 6:58 Chiều

So in regard to the interests being paid during the say 15 year period will it keep getting higher as time passes?

Reply

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