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GradRight and Prodigy Finance Partner to Support Rohit’s Dream of International Higher Education

HYDERABAD, India, January 21, 2022 /PRNewswire/ —

When aspirations were threatened by Covid-19

Rohit grew up in a modest, middle-class family. From childhood, he dreamed of studying at a major university in the United States. Like most of his peers, he completed his bachelor’s degree in engineering, found employment in the IT sector at India, and bided his time to find the right time to apply abroad. He knew financing his dream of studying abroad would be a challenge, but he was determined to work hard and take out a loan if necessary. Just as he was about to take the plunge, the pandemic hit, his father lost his job and the family’s financial situation deteriorated. But Rohit remained committed to his dream.

Before the pandemic hit, nearly 600,000 students received student visas to study abroad in 2019. Despite a temporary drop due to Covid travel restrictions, the trajectory of Indian students studying abroad stay solid. The number of students who manage to travel abroad is only a small slice of the large pool of aspirants who plan to study abroad as early as their teens. Most students miss out on their plans due to the high cost of an international education. Students from modest backgrounds lack the personal financial resources as well as the financial know-how to navigate the world of student loans and grants. Rohit found himself in a similar position in 2020.

GradRight opens doors to Prodigy Finance for Rohit

Despite the challenges, Rohit remained motivated, balanced his work with studying and planning, passed the GRE, performed well, applied to his dream universities in the United States, and was accepted into three d ‘between them. He was convinced of his academic abilities and brought himself this far. However, he was unfamiliar with the inefficiencies of the Indian education loan market and was denied loans by five different lenders. While some demanded collateral, some cited poor credit history. A few said his father was not a reliable guarantor because he had lost his job. Dejected, Rohit was about to give up. But with a stroke of luck, he came across GradRight. The team guided him on how he could leverage his academic profile and admissions offers to secure a collateral-free loan with partners like Prodigy Finance.

Prodigy Finance goes further, faster than anyone

While all other banks took 1-1.5 months to process and ultimately reject Rohit’s loan applications, his student loan was approved by Prodigy Finance within days. Prodigy Finance is one of the few student-centric, technology-driven lenders that provides approvals to deserving students in minutes. Through GradRight’s student loan auction platform, Rohit received three other loan offers, but he chose Prodigy Finance because it offered him the lowest interest rate and the best service experience. “I am extremely grateful for the support GradRight and Prodigy Finance have provided to help me achieve my aspiration to study at my dream university in the United States. Platforms like these bring hope to the lives of students who find the current financial system cumbersome. The whole process was incredibly easy to follow. I hope more aspirants like me can make full use of these platforms“, said Rohit.

Rohit’s cause for celebration didn’t end there. GradRight and Prodigy Finance understand how young people india aspirations to study abroad are often crushed by the existing paradigm of student loans and funding. GradRight co-founder Mr. Aman Sing, said, “At GradRight, we understand how crucial a study abroad opportunity is for students to enjoy social mobility. To eliminate the prevailing information asymmetry, GradRight aims to partner with students, universities and financial institutions like Prodigy Finance to ease the palpable anxiety and uncertainty surrounding the vital decision to choose a college and by subsequently fund partners. Ultimately, we have built a one-of-a-kind ed-tech platform that promises optimal results for all of its stakeholders.

To encourage Rohit and others from such humble backgrounds to stay committed to their dreams, they presented Rohit with a scholarship worth $5,000. Going forward, GradRight and Prodigy Finance remain committed to offering scholarships to bright young minds like Rohit in 2022.

If you analyze the many Indians currently running global businesses, an obvious recipe emerges. A majority of these visionary leaders, after completing their undergraduate studies in India, stepped out of their comfort zone and chose to study abroad. The experience of working with the best has brought out their A game and allowed them to achieve phenomenal success. At Prodigy Finance, we aim to unlock this potential for students from over 100 countries around the world, including India, said, Mayank Sharma, head of country – India, ProdigyFinance.

Today, Rohit is pursuing his master’s degree in electrical and computer technology at Ohio State University. Coming from a middle-class background, he is grateful for the mentorship and financial assistance provided by GradRight and Prodigy Finance. He smiles generously and shares his plans for the future – he also wants to be an entrepreneur. He says, “I truly believe I have the privilege of studying at such an esteemed institution. Using the knowledge I will gain through the international exposure and world-class curriculum, I wish to help others rise social and economic levels through my entrepreneurial skills. If my experience could make a difference in the lives of people seeking employment and educational opportunities, I would have achieved my goal.”

On Law graduate

GradRight is an ed-fin-tech startup focused on global higher education. We are committed to meeting the global aspirations of young people by helping students find the “right education” at the “right price”. Because September 2020, we received more 500 million US dollars in loan applications and successfully obtained more than $75 million in loan approvals for over 1,600 students. GradRight is now the one stop destination for Indian students applying for higher education abroad. GradRight was founded in 2019 through Sasidhar Sista, former student of BITS Pilani, and University of Pennsylvania; and Aman Sing, a former student of Indian business school and indian institute of technology, delhi. Learn more about us at www.gradright.com

Media Contact:

Anand Patinge
[email protected]

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SOURCE GradRight