Any accepted Full Time MBA student from outside Belgium. We are not able to fund students who are currently resident in Belgium or those who are Belgian citizens.
All lending decisions are subject to a full credit and background check and are largely based on student's post MBA affordability.
How much can I borrow?
The loan size is capped at a maximum of 75% of your tuition: 75% x €27,500 = €20,625.
If you have received a Vlerick based scholarship then the maximum loan is 75% of your tuition less any Vlerick based scholarship funding that you have: For example if you have a Vlerick scholarship of €5,000, the maximum loan you can take is €27,500 - €6,875 (25% deposit) - €5,000 (scholarship) = €15,625.
The loan can only be used to fund tuition and is disbursed directly to Vlerick.
What are the terms?
The typical APR for Vlerick is currently 7.0%. This rate is calculated based on a number of factors. Interest is variable over the duration of the loan and is a fixed margin above the 3 Month Euribor Rate.
We will provide you with detailed terms and conditions and a written quotation before you need to accept the loan.
All successful applicants will be charged a fixed Prodigy Finance Broking fee of €200, plus a once off life cover charge equal to 0.67% of the loan amount.
What is the repayment period?
The standard repayment period is 7 years, with the first repayment being made 6 months after graduation. There are no payments during the study period, although of course interest would continue to accrue during this time.
Source:http://www.prodigyfinance.com/web/Vlerick.aspx?l1=40&l2=20
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