How does Prodigy Finance calculate interest?

Prodigy Finance uses a variable APR based on SOFR plus a margin, typically 8-16% depending on your school tier. Interest accrues during studies and capitalises at the end of the grace period.

What is the Prodigy Finance administration fee?

Prodigy Finance charges approximately 4% of the loan amount as an administration fee, added to your principal upfront. On a USD 50,000 loan this is around USD 2,000.

How long is the Prodigy Finance grace period?

Prodigy Finance offers a 6-month grace period after graduation before mandatory full repayment begins. Interest continues to accrue during this period.

Student Loan Calculator: Estimate Prodigy Finance Costs

Adjust Your Loan Parameters

Monthly Payment
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Estimated repayment after grace period

Total Repayment

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All payments over the full term

Total Interest Paid

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Above original loan amount

Balance at Repayment Start

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After study + grace period

Cost Breakdown

Original loan

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Admin fee (~4%)

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Total interest

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Principal Admin fee Interest

Full Loan Journey Breakdown

Loan amount requested	—
Admin fee (~4%) added at disbursement	—
Starting balance (loan + fee)	—
Interest capitalised during study period	—
Balance at graduation	—
Interest capitalised during 6-month grace period	—
Balance at start of repayment	—
Monthly payment × term months	—
Total paid (principal + all interest)	—

Repayment Term Comparison at Current APR

Term	Monthly Payment	Total Repaid	Total Interest	Saving vs 20yr
5 years	—	—	—	—
10 years	—	—	—	—
15 years	—	—	—	—
20 years	—	—	—	Baseline

How This Calculator Works

⚠ Estimates only — not financial advice. This calculator uses a simplified model (fixed APR applied as compound interest throughout study and grace periods, then standard amortisation for repayment). Actual Prodigy Finance loan terms, APR, admin fee, and repayment schedule will differ from these estimates. All figures assume a fixed variable rate equal to the APR entered; actual variable rates fluctuate. Verify your exact terms with Prodigy Finance before making any financial decision. Not affiliated with Prodigy Finance Ltd.

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