If two financial products were identical, except for their disbursement schedule – loan products that require higher upfront disbursement will have a greater APR. The student loan APR from lenders who use compound interest would be ~10bps (0.10%) higher. Prodigy Finance education loans have simple interest while the student is studying. How is student loan interest calculated? Does it use simple or compound interest? Note: Prodigy Finance maximum loan amount that you’ll qualify for is based on your individual application, while the minimum loan amount is USD 15,000. ![]() 10% Prodigy Finance APR includes the effects of all financing costs (including impact of admin fee of 5% of the total loan amount). ![]() 8.9% annual simple fixed margin plus a variable base rate (3-month USD LIBOR of 0.2% as of 1st January 2021).8.7% Prodigy Finance fixed margin (fixed rate of interest).The following example illustrates how APR captures the impact of the administration fee with Prodigy Finance: How is the interest calculated on your Prodigy Finance Student Loan? The next question you might have: How do you calculate the APR on your prodigy finance loan? Prodigy Finance loan interest rate calculator Prodigy Finance charges one fee per loan, nothing’s hiding in the fine print. Furthermore, the lender may charge additional fees for originating, servicing, and repaying the loan. The most prominent of them is the interest rate. There are multiple costs to a loan product. How to calculate Prodigy Finance APR and Prodigy Finance interest rates Identify all costs of your loan
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