Prodigy Finance, which provides loans to international students studying in the US, has partnered with CommonBond, a US-based lending platform.
The new partnership will expand MBA loan options for international students doing their MBAs at a select group of US business schools.
Specifically, international students who use the CommonBond platform to look for student loans will be able to secure an MBA loan from Prodigy Finance. Prodigy Finance will determines the terms and conditions.
"International MBA students in the U.S. face a unique set of challenges in financing their degrees, largely due to the shortage of funding options from traditional financial institutions,” according to David Klein, CommonBond’s CEO.
Indeed, most non-US residents will not qualify for federal loans, and usually need a resident co-signer for private loans.
“We understand firsthand just how difficult it is to finance an international MBA, which is why we launched Prodigy Finance eight years ago as a way of offering borderless loans to international MBA students while enabling investors to earn a competitive financial and a social return by investing in these students,” according to Cameron Stevens, Prodigy Finance's CEO.
Prodigy Finance launched in 2007, and has been providing loans to international students doing their MBAs in the US since 2014. Through the Prodigy Finance scheme, international students can apply for MBA loans at a number of US business schools, including:
- Babson College
- Boston College - Carroll School of Management
- Boston University - Questrom School of Business
- Carnegie Mellon University - Tepper School of Business
- Columbia Business School
- Cornell University - Johnson Graduate School of Management
- Duke University - Fuqua School of Business
- University of Washington - Foster School of Business
- Georgetown University - McDonough School of Business
- Georgia Tech - Scheller College of Business
- Harvard Business School
- Kellogg School of Management
- UT Austin - McCombs School of Business
- University of Notre Dame - Mendoza College of Business
- University of Michigan - Ross School of Business
- New York University - Stern School of Business
- Ohio State University - Fisher College of Business
- WUSTL - Olin Business School
- Rice University - Jones Graduate School of Business
- University of Rochester - Simon School of Business
- Stanford University Graduate School of Management
- Dartmouth College - Tuck School of Business
- UCLA - Anderson School of Management
- UNC - Chapel Hill - Kenan-Flagler Business School
- University of Chicago - Booth School of Business
- University of California - Berkeley Haas School of Business
- University of Pennsylvania - Wharton School
- USC - Marshall School of Business
- Vanderbilt University - Owen Graduate School of Management
- Yale School of Management