Prodigy Finance Flags Currency Volatility as Rising Concern for Study Abroad Aspirants

• Currency fluctuations can significantly increase the cost of studying abroad, impacting tuition and living expenses.

• Prodigy Finance offers loans in USD, GBP, and EUR, shielding students from currency depreciation and conversion losses.

• Students applying by the end of 31st May can save up to 3% on their education loan, with added benefits like a grace period and co-signer options.

Currency volatility is becoming one of the biggest challenges for students planning to study abroad. When exchange rates fluctuate, the cost of tuition, housing, and everyday expenses can shift dramatically, often without warning. For students from countries where the local currency is weakening against the US dollar, pound, or euro, this can lead to serious financial strain, forcing them to either stretch their budgets or reconsider their plans.

Even minor shifts in exchange rates can significantly inflate tuition and living costs. This leads to substantial increases in the amount of home currency required to cover the same expenses, placing additional pressure on students already managing tight budgets.

“Students are doing all the right things like planning early and budgeting wisely, but currency depreciation can undo all that effort in an instant,” said Sonal Kapoor, Global Chief Business Officer at Prodigy Finance. “That’s why we’ve designed a loan solution that protects students from this very risk.”

Traditional education loans, typically disbursed in a student’s local currency, add another layer of uncertainty. If the value of the home currency drops between the time a loan is approved and when tuition is due, students may find themselves suddenly short of funds or facing higher repayments than planned. This unpredictability can cause significant stress and, in some cases, derail a student’s academic plans.

Prodigy Finance is addressing this challenge head-on by offering a solution designed specifically for international students. The lender provides loans directly in USD, GBP, and EUR, and disburses funds directly to universities. This shields students from the risks of currency depreciation and conversion losses, ensuring they know exactly how much they will receive and repay, regardless of what happens to their home currency during their studies.

Prodigy Finance offers education loans at interest rates that can be up to 3% lower than typical market rates, which range between 9.99% and 13.25%, depending on the applicant’s profile and loan type. This potential saving can significantly reduce the overall cost of studying abroad, easing long-term financial pressure on international students.

Student loans are available without the need for collateral or a co-signer, and the application process is fully online, making it accessible to students from over 150 countries. Prodigy Finance also offers a new co-signer loan option for Indian students with even lower interest rates, starting from 8.35%. Moreover, a six-month grace period is also provided to allow full time students to find employment before repayments begin.

In a world where currency markets can change overnight and the value of money is never guaranteed, Prodigy Finance’s approach provides international students with stability, transparency, and real savings, helping them focus on their studies and future rather than worrying about exchange rates.