Prodigy Finance, a global student loan provider, is taking a bold initiative in 2025 to fund students in India who wish to study abroad. In November 2024, they received a significant funding amount of USD 310 million from the U.S. International Development Finance Corporation (DFC). This financial support marks an important step in Prodigy Finance’s mission to make education more accessible, helping students from Prodigy-supported regions to attend higher education at Prodigy-supported schools.
Prodigy Finance is putting this funding to work in ways that make a difference. At least 30% of the funding is dedicated to women and 50% to individuals from low- and lower-middle-income countries.
Prodigy Finance is also extending its support to students from Tier 1 to Tier 4 cities and beyond, ensuring that those from smaller towns and rural areas receive the same opportunities as those from major urban centers. Additionally, part of the funding has already been utilised to provide scholarships for Fall 2025, with more scholarship programs set to be launched in the future. These initiatives reinforce Prodigy Finance’s commitment to fostering diversity and increasing access to global education for students who might otherwise be unable to pursue higher studies.
“At Prodigy Finance, we believe education is the most powerful tool for change,” said Sonal Kapoor, Global Chief Business Officer at Prodigy Finance. “This new funding enables us to expand our reach, empowering even more students, particularly women and those from underserved communities, to achieve their dreams. Indian students have always been a key part of our mission, and we are committed to removing financial barriers that stand in their way.”
Beyond India, Prodigy Finance has expanded education access globally, benefitting students across Africa and other global regions. By offering education loans, scholarships, and tailored support programs, Prodigy Finance is ensuring that students from diverse socioeconomic backgrounds can connect with top academic institutions, regardless of their financial circumstances.
Prodigy Finance is not only financing education but also responding to the concerns of families who seek ways to ease the burden of student loans. Since its inception, the company has primarily offered no-cosigner and collateral-free loans, enabling students to secure funding based on their future potential. However, recognising the needs of Indian parents, including single parents who wish to support their children’s education, Prodigy Finance has introduced co-signer-based loans for Indian resident students, empowering families to contribute while ensuring students maintain financial independence, creating a balanced approach to education funding.
This initiative was inspired by students like Prachi Mahapatra, a determined STEM student whose father, a retired Air Force officer, wanted to help fund her studies. While Prachi was committed to funding her studies independently, Prodigy Finance provided the financial backing she needed. With this, she excelled in her field of cybersecurity. She is now working on threat modeling, XDR, and quantum cybersecurity services and products, making significant contributions to the US economy with her innovative ideas in the cybersecurity field. Her exceptional accomplishments have earned recognition from the Air Force Association, Odisha, India, in an initiative celebrating the daughters of Air Force personnel on International Women’s Day 2025. This recognition highlights how financial support can empower talented individuals to attain their goals and make a lasting impact in their respective fields.
As Prodigy Finance continues its $310 million investment, stories like Prachi’s illustrate the transformative power of education. With this funding in motion, Prodigy Finance aims to expand into more courses and universities this year. This initiative brings Prodigy Finance one step closer to ensuring that every talented student, regardless of their financial background or choice of education, has the opportunity to succeed on the world stage.