Skilled engineers and scientists are in high demand everywhere. From developing problem-solving technologies to tackling global challenges, these talented individuals are shaping the future. However, pursuing a top-tier STEM education can be expensive, especially in a foreign country, leaving many aspiring engineers and scientists out in the cold.
Prodigy Finance recognises this challenge and believes that financial barriers shouldn't hold back the next generation of innovators. Therefore, Prodigy Finance is dedicated to making world-class engineering education accessible to deserving students around the world.
The company provides education loans with 7 to 20 years repayment plans specifically designed for international students pursuing graduate studies at top universities worldwide.
Why is STEM important?
As technology-focused industries continue to experience high job growth and strong salaries, Prodigy Finance has seen demand for STEM from international postgraduates overtake business programmes. The latest findings by the US Bureau of Labor Statistics estimate STEM jobs will grow 10.8%, compared to 2.3% for non-STEM jobs by 2032. Prodigy Finance’s unique credit model goes beyond just the credit report; adapting to the high employability of the sector means it can cater to the significant demand for scientific education and enable more top students to access higher education in this field.
By studying STEM courses abroad, students can learn new approaches to problem-solving and gain a broader understanding of global issues. Needless to say, it provides a boost to their career.
Technical jobs provide well-paying salaries, even at the entry level. STEM workers report high job satisfaction.
The Financial Hurdle
The cost of a top international engineering or science master’s degree can be daunting, often exceeding $50,000 per year. Even postgraduate diplomas at top universities in the UK, like De Montfort University, can cost anywhere from $22,000 to $30,000 per year. Many students from emerging markets have to look for external financial aid to support their postgraduate studies. This hefty price tag can be a major barrier for talented students, especially those from underprivileged backgrounds or without an established credit history.
Traditional loan options often rely heavily on credit scores, leaving many aspiring STEM students out in the cold. The funding provided by Prodigy is critical to these students - according to the 2022 Prodigy Finance Impact report, 90% say that they would not have been able to attend graduate school without it.
Prodigy Bridges the Gap
Prodigy Finance recognises the critical role that engineers and scientists play in solving global challenges. There was a 97% increase in applications submitted for financing STEM degrees to Prodigy Finance in 2022 compared to 2021. The company supports over 500 engineering and STEM schools, including institutions like Mississippi State University, Aberystwyth University, California Institute of Technology, University of Calgary, Australian National University, and many more that provide top-tier engineering courses.
Here are the most sought-after STEM programmes supported by Prodigy Finance:
Aerospace Engineering
Bio/BioTech Engineering
Biological Sciences
Chemical Engineering
Civil & Environmental Engineering (Urban System & Transportation)
Computer Science & Computer Engineering
Electrical Engineering
Information Systems
Mathematics
Mechanical Engineering
Physics
Vehicle Engineering
Not every programme is supported at every university; check out the list of supported schools to see if Prodigy Finance covers the college and course that you are interested in.
As the demand for engineering professionals continues to rise, Prodigy Finance's commitment to supporting STEM education has never been more crucial. Talented individuals can pursue their dreams of studying at Prodigy-supported universities worldwide, confident that financial constraints will not hold them back. If you're an aspiring STEM student with dreams of studying abroad, Prodigy Finance could be the key to unlocking your future.
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