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Peer2Peer Finance News | May 27, 2019

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Prodigy Finance launches P2P student healthcare loans

Prodigy Finance launches P2P student healthcare loans
Marc Shoffman

PRODIGY Finance has launched a new loan product to help international students pursuing dental, nursing or public health postgraduate degrees in America.

It will fund eligible borrowers at select schools who are completing a Master of Public Health, Master of Science in Public Health or Master of Science in Nursing degree, as well as those enrolling in dentistry programmes.

Cameron Stevens, founder of Prodigy Finance, said these loans would help fill the global healthcare gap.

Read more: Prodigy targets £400m of originations 

“Expanding our loan offering to select public health, nursing and dentistry degrees is the first step in our ambitions to meet the increasing demand we’ve seen from international students looking to further their education in health sciences,” he said.

“It allows us to help these aspiring postgraduate students gain access to life-changing opportunities and aid the development of the next generation of healthcare leaders.”

The London-based fiintech firm secured $1bn (£761m) in available debt finance to expand its student funding programme last year.

The financing primarily consists of $900m from institutions including Deutsche Bank, Goldman Sachs, M&G Investments and Sumitomo Mitsui Banking Corporation.

Prodigy Finance, which shares backers with ‘big three’ P2P lenders Zopa and Funding Circle, provides education loans to international students attending top universities around the world, particularly for those who find their funding options limited.

Read more: P2P student lender raises £186m for US expansion