Education
Currency Volatility Emerges as Major Concern for Study Abroad Students, Prodigy Finance Offers Solution
As more students aspire to pursue international education, an increasingly unpredictable factor is throwing a wrench into their plans: currency volatility. The rising fluctuations in foreign exchange rates are making it harder for students to accurately plan their financial needs, with tuition and living expenses potentially increasing overnight due to the depreciation of their home currency. Recognising this growing challenge, global education lender Prodigy Finance has flagged currency volatility as a significant concern for students and is offering tailored financial solutions to address it. Studying abroad can quickly become more expensive than initially projected for students from countries where the local currency is weakening against the U.S. dollar, British pound, or euro. This forces many students to either stretch their already tight budgets or reconsider their overseas education goals entirely.
“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.”
Unlike traditional loans that are often disbursed in the student’s local currency, Prodigy Finance provides education loans in USD, GBP, and EUR. These funds are paid directly to the universities, eliminating the risk of currency conversion losses and shielding students from adverse exchange rate movements. This structure ensures that students know exactly how much they are borrowing and repaying, regardless of fluctuations in their local currency’s value.
The benefits extend beyond stability. Prodigy Finance offers interest rates that are potentially up to 3% lower than conventional lenders’ rates, which typically range between 9.99% and 13.25%. Students who apply by May 31st can take advantage of this offer and lock in savings before their academic year begins.
The lender also offers flexible terms aimed at easing students’ financial burdens. Loans are available without the need for collateral or a co-signer, and the entire process is managed online. For Indian students, a co-signer loan option has been introduced, offering even more competitive interest rates starting at just 8.35%.
Another key feature of Prodigy Finance’s offerings is a six-month grace period after graduation, allowing students time to secure employment before repayments begin. This period is especially valuable in today’s competitive job market, giving international graduates breathing room as they transition from student life to the workforce.
Available to students from over 150 countries, Prodigy Finance’s approach offers a rare combination of predictability, affordability, and flexibility. This provides a critical advantage to aspiring international students in an increasingly unstable currency environment.
By mitigating the impact of currency volatility and offering transparent, globally accessible financial products, Prodigy Finance is not only helping students finance their education to study abroad — it’s empowering them to stay focused on what truly matters: their future.