Prodigy Finance APR, rates and repaying explained (Part 3 of 3)

What decides your Prodigy Finance loan, what does it really cost, and how do you pay it back? This video answers 8 questions about your education loan: approval, interest rate vs APR, credit decisions, second-year funding and repayment. Prodigy Finance offers education loans to international students for postgraduate study, without collateral or a co-signer. This is part 3 of a 3-part FAQ series, from applying to repaying. Chapters 0:00 What this video covers 0:00 What decides my approval, my rate and my loan amount? 0:00 What's the difference between APR and my interest rate? 0:00 Can I change my credit decision? 0:00 Can I get more funding in my second year? 0:00 Why do I have to re-apply if I was pre-approved? 0:00 What does conditional approval mean? 0:00 How do I repay my loan? 0:00 What is FX risk, and how does it affect me? 0:00 Wrapping up the series Your questions, answered How does Prodigy Finance lend without collateral or a co-signer? We look at your whole financial profile, including where your degree is likely to take you. What's the difference between APR and interest rate? Your interest rate is the cost of borrowing the money. Your APR includes all fees, so it's the full cost in one number. Compare APRs, not interest rates, when weighing up offers. How much can I borrow? Your total borrowing can't go above your school's published cost of tuition plus living costs. What does conditional approval mean? It means yes, once a few things on your dashboard are confirmed. Can I repay my loan early? Yes, any time, with no penalty and no extra fees. Rates and fees explained: https://support.prodigyfinance.com/hc... Help centre: https://support.prodigyfinance.com/hc... Watch the full series: Part 1: Applying:    • How to apply for a Prodigy Finance loan (P...   Part 2: Getting funded:    • How to apply for a Prodigy Finance loan (P...   Part 3: Your loan, explained (this video) Information correct as of October 2026. Details can change, so check the help centre for the latest. [Prodigy Finance Ltd is authorised and regulated by the Financial Conduct Authority in the United Kingdom. Prodigy Finance loans are offered to eligible borrowers and these loans are governed by English law. Loan and promotion offers are subject to our eligibility, funding, and credit assessment criteria. Representative APR 13.26% variable. APR includes interest + mandatory fees (All-inclusive rate of borrowing). Have a question we didn't answer? Ask it in the comments and we'll reply. #StudyAbroad #EducationLoan #ProdigyFinance