Pursuing higher education abroad has become a popular choice among students looking to broaden their horizons and gain a competitive edge in today’s globalized world. However, the cost of international education can often be a significant barrier for many aspiring students. Thus, they readily prefer to take an education loan. One common requirement for securing an education loan is the need for a security or guarantor, which can pose challenges for students who may not have access to such resources. But is it possible to obtain an overseas education loan without any security or guarantor? The answer is yes, thanks to innovative financial institutions like MPOWER Financing and Prodigy Finance.
So, if you are opting for a non collateral education loan for abroad, then your research ends here. Let’s discuss more about this type of overseas education loan in this article.
Financial Institutions Providing Education Loans Without any Security or Guarantor
- MPOWER Financing
MPOWER Financing is a leading global provider of educational loans for international students. Their mission is to remove financial barriers and empower students from around the world to fulfil their educational aspirations. One of the key advantages of MPOWER Financing is that they offer loans without requiring any collateral or guarantor.
In addition to the absence of collateral or a guarantor, MPOWER Financing provides students with flexible repayment options, including interest-only payments while in school, deferred repayment, and affordable monthly instalments. They also offer competitive interest rates, making education loans more accessible and affordable for students.
- Prodigy Finance
Prodigy Finance is another prominent financial institution that specializes in providing student loans for studying abroad without requiring collateral or a guarantor. Prodigy Finance aims to bridge this gap by offering loans based on a student’s future earning potential.
To determine loan eligibility, Prodigy Finance evaluates various factors such as a student’s academic profile, chosen course of study, and the potential for career growth. They partner with leading universities and business schools worldwide, supporting students from over 150 countries. Prodigy Finance also offers flexible repayment terms, allowing students to start repaying their loans after graduation.
Eligibility Criteria for Education Loans Without any Security or Guarantor
The eligibility criteria for obtaining education loans without any security or guarantor from MPOWER Financing and Prodigy Finance are relatively straightforward. Students must meet the following requirements.
- Academic Record – Applicants should have a strong academic background, demonstrating their commitment to education and their ability to succeed academically.
- University Acceptance – Students must have received an admission offer or be enrolled at one of the universities supported by MPOWER Financing or Prodigy Finance.
- Course of Study – Loans are typically available for a wide range of academic disciplines, including undergraduate, graduate, and professional programs.
Securing an education loan for overseas education without any security or guarantor is indeed possible, thanks to financial institutions like MPOWER Financing and Prodigy Finance. These financial lenders have reimagined the traditional loan application process, taking into account a student’s academic achievements, future earning potential, and career goals. By removing the requirement for collateral or a guarantor, they have made education loans more accessible and inclusive for students around the world.
Students aspiring to pursue higher education abroad can now explore these financial institutions for funding their educational journey. Moreover, students can focus on their studies and embrace the opportunities that come with an international education, without being hindered by financial barriers.