Thursday, March 30, 2023
GradRight, Prodigy Finance Are Revolutionising Bharat's Access To Higher Education Abroad
  SocialTwist Tell-a-Friend  

GradRight and Prodigy Finance announce new merit-cum-means scholarships worth $25,000 for Indian students pursuing their Master's abroad in 2023, also award scholarships to 10 students in 2022. Prodigy has disbursed $15 million in unsecured loans via the GradRight platform.

BENGALURU, India, Jan. 31, 2023 /PRNewswire/ --  GradRight and Prodigy Finance jointly awarded 10 merit-cum-means scholarships worth a total of $25,000 to Indian students pursuing their Master's aboard. GradRight, an Ed FinTech company dedicated to making education accessible and affordable for students from underserved communities and Prodigy Finance, an online lender that offers no-cosigner, no-collateral international student loans, also announced new scholarships for students hoping to study abroad in the 2023-24 academic year.

GradRight and Prodigy Finance Logos

"It's no longer an upper class dream to come to the United States," said one of the 10 scholarship recipients, Vamsi Krishna. "(Studying abroad) can be everyone's dream."

Vamsi lost his father at a young age and worried how he would fund his childhood dream to study abroad. "I come from a middle class background. We did not have any collateral. I looked at the options available on GradRight and went with the lender offering the lowest interest rate, which was Prodigy at the time."

Vamsi is now working towards his Master's in Computer Science at Arizona State University.

Prodigy Finance is one of the 15 lenders available on GradRight, home to the world's first education loan bidding platform. In the last two years, GradRight has received over US $1.12 billion in loan requests and successfully secured over US $225 million in loan approvals for more than 5,200 students. Students who opted for loans from Prodigy Finance were automatically eligible for a scholarship. Winners were carefully selected by GradRight's scholarship committee on the basis of their academic achievement, potential to succeed and financial need to meet their education goals.

"We wanted to broaden the reach of the scholarship while keeping it meaningful and acknowledging ambitious achievers," said Sasidhar Sista, Co-Founder, GradRight, explaining why GradRight decided to evenly split the scholarship amount of $25,000 and award 10 winners $2,500 each. "This is to remind students that they are not alone and we value their ambition and investment in themselves."  

"This scholarship has lightened my financial burden, allowing me to focus on my studies," said scholarship winner Anushree Ayyar, who was born and raised in Karnataka's Hubli. Growing up, Anushree dreamed of studying abroad. But her parents passed away before she turned 18 and Anushree struggled to fund her Bachelor's. "I had to make a lot of sacrifices. I worked part-time in a Xerox shop on campus, earning Rs 2,000 a month," she said. After graduation, she worked for six years to save money to fund her Master's abroad.

"My mother never saved a single penny for my marriage or gold, she always invested in my studies," said Anushree. But as she began applying abroad, she realized she may not be able to fund herself. "Typical Indian banks won't give loans to orphans who don't have co-signers," she said. That's when Anushree discovered Prodigy Finance on the GradRight platform. "If there was no Prodigy, I wouldn't be here because Indian lenders would not give me a loan."

Anushree is currently working towards a Master's in Human Resource Management at Pace University.

"We don't look at what a student has right now in terms of financial capabilities but where they are going and what possible future outcomes they can have," said Mayank Sharma, head of global partnerships and country head for Prodigy Finance. "This allows us to lend with confidence, without the need of a co-signer or collateral."

"I know a lot of people like me who are struggling to get financing. They don't have a cosigner or collateral. I didn't know I had an option to get a loan until I learnt of Prodigy from my financial adviser on GradRight," said Sai Sree Meka, who was raised by her grandparents in Andhra Pradesh's Vijayawada. "My grandfather is a farmer and didn't have enough income to spend on my education… but I knew the value of education," she added. "I tried everything but nothing worked out. I thought I had zero options. (The scholarship) is not a small amount for me."

Sai Sree is now enrolled for a Masters in Computer Science at University of Georgia.

Over 80% of the students GradRight serves come from Tier 2, 3 and 4 cities across India, many with an average annual family income of Rs 6 lakh. Many are the first in their families to pursue a graduate degree or go abroad.

"We believe that good quality higher education of lower and middle income students goes a long way in uplifting their families and creates a significant downstream impact on their extended communities. We also believe that higher education is a significant force for driving social and economic equality," shared Aman Singh, Co-Founder, GradRight. "We are able to connect the most deserving students with Prodigy Finance, who are looking to offer loans and scholarships to students who need and deserve them the most."

Together, GradRight and Prodigy have disbursed over Rs 110 crore in education loans in the last two years.

"We hope to continue our partnership to redefine the scope and impact of higher education financing and ultimately allow higher education to be more equitable and accessible," Singh added.  

"Prodigy Finance is founded on the philosophy that funding shouldn't be a barrier to education. We're using fintech to redefine the student loan market," explained Sharma. "There are many drawbacks of applying for loans from traditional banks or lenders owing to the complications involved, like prolonged processing time, tedious credit assessment based on a student's family income or credit scores, excessive paperwork, pledging a security against the loan, etc. Collateral and co-signer-free loans such as the ones we offer eliminate all these complexities."

"There was a time I almost gave up on coming to the US," said scholarship winner Sasipriya Kota, who is now working towards a Masters in Computer Science at Wright State University. "My father doesn't have a monthly income. He's a daily wage laborer. I struggled to get a loan from Indian banks because they kept asking me for documents (to prove his income). I found GradRight and my financial adviser told me about lenders like Prodigy. I am so happy to have GradRight, I am finally in the US."  

About GradRight:

GradRight  is an ed-fin-tech startup focused on global higher education. We are committed to enabling global youth aspirations by helping students find the "right education" at the "right cost." Since September 2020, we have received over US$ 1.12 billion in loan requests and successfully secured over US$ 225 million in loan approvals for more than 5,200 students. GradRight was founded in 2019 by Sasidhar Sista, an alumnus of BITS Pilani, and University of Pennsylvania; and Aman Singh, an alumnus of   the Indian School of Business and Indian Institute of Technology, Delhi. Learn more about GradRight on



Cision View original content:

More News by PR Newswire India

ViewSonic Targets to Double its Monitors Business for Hybrid Workspace

Croma-Pharma: Further strengthening its portfolio with PhilArt biostimulators

Arctech Harvests Largest Solar Project in Azerbaijan


GC Creates Innovation For a Better Quality of Life for the World, Using High-quality Recycled Plastic Resins of Food Grade Level Guaranteed Safe by FDA

Sung Hwan Cho of Hyundai Mobis at the 44th Vienna International Motor Symposium

Huawei and bKash Strengthen Partnership to Deepen Financial Inclusion in Bangladesh to Support the SDGs

Pexpo launches sustainable water bottles, commits to 'Health on the Go'

Inside the Action: A Toshiba TV Offering to Gamers

HistoSonics Announces First Ever Kidney Tumor Treatment Using Histotripsy

Lacework Celebrates Inspiring "Secured by Women" Leaders

IMG Travel Outlook Survey Predicts Continued Surge of International Travel in 2023

PacketFabric and Unitas Global Complete Merger


48-year old doctor from Islampur undergoes three surgeries in a single setting

Onfido Applauded by Frost & Sullivan for Enhancing Identity Verification and Customer Experience with Its Robust Digital Identity Verification Platform

Pixalate Releases February 2023 Mobile Device Global Market Share Report: Apple iPhone Reaches 72% North American Programmatic Advertising Market

PartnerOne Completes the Acquisition of Stromasys

Results Revealed: 2022 PHBS-CJBS Global Pitch Competition Held in Shenzhen

MYEG Signs Agreement with China Customs for Cross-Border Trade Connectivity on Zetrix Blockchain Platform

Upgrade Skills with Mediflick's Effective and Affordable Medical Courses

Industry players call for a 'non-stop' approach to Africa's banking digitisation

BitKeep Rebrands As Bitget Wallet After Acquisition

Timex Becomes the Official Timekeeper of Gujarat Titans

TCL Takes the Top 2 TV Brand Spot Globally by Making Mini LED Technology Accessible to Millions

BasaltCoin: One of the Most Promising Projects Successfully Launched on March 26, 2023

BAE Systems and Heart Aerospace to collaborate on battery for electric airplane

ID Tech partners with MCD to Provide Complete Traceability, Transparency and Visibility for Solid Waste Management and remediation of waste dumps in Delhi

Hexaware Named Among The Economic Times Best Organisations for Women 2023

ECOVACS Group celebrates 25 Years with industry-leading innovations

CGI is Great Place to Work-certified™ in India

This Summer, Platinum Guild International (PGI) India, offers a stunning collection of platinum jewellery by PLATINUM EVARA

Black & White Ginger Ale by Diageo Sets Up A 'Table for Everyone' - Encourages Varied Perspectives, Fosters Inclusion, Ignites Meaningful Conversations

Dow Launches New Digital Coatings Formulation Platform: Paint Vision

Vymo recognized in the 2023 Gartner® Market Guide for Sales Engagement Applications

CDNetworks and VSTV K+ Partner to Elevate the Experience of Premium OTT Services in Vietnam

Zimmer Biomet's ROSA HIP with ONE Planner Hip Awarded Orthopaedic Product Innovation of the Year by Healthcare Asia Medtech Awards 2023

Prime Focus Technologies launches CLEAR® AI Reframe and enhances CLEAR® AI Discover with Chat GPT

Axi extends multi-year partnership deal with Man City

Hevo Data Strengthens Data Integration Offering with Google Cloud Ready - BigQuery Designation

ProWein 2023: Wine of Moldova Commits to Go Sustainable

Adriel to Power AdOps Marketing Solution for LG Electronics

Tony Robbins To Close the Global PRIORITY Summit Held by FII Institute

Continuous evolution key to successful organizational transformation, says MIT Technology Review Insights report

AlgoKit Introduces Web2 Developer Experience for Building Web3 Applications on Algorand

Neo4j and Google Cloud Extend Strategic Partnership With New Native Integration to Google Cloud's BigQuery Cloud Data Warehouse

Starburst Achieves Google Cloud Ready - BigQuery Designation

IMA Student Leadership Conference in New Delhi Focuses on Engaging Gen Z on the Future of Finance


Sai Life Sciences and NIIT Foundation partner to create livelihood opportunities for underserved communities in Hyderabad

This summer, Platinum Guild International (PGI), India launches an exclusive collection of statement pieces from Men of Platinum

Accops recognized in the 2023 Gartner® Market Guide for Desktop as a Service

BitKeep 2023 Roadmap Reveals Its Plan to Rebrand as Bitget Wallet and Strengthen Security

The Passport Index points to declining fortunes for Asian superpowers India and China

Great Place To Work India and HDFC ERGO come together to drive the movement of 'Making India a Healthy Place to Work For All'

NetEase announces "Lord of the Rings" Game Fanfiction Contest

Shoolini Engineering Earns High SCImago Rankings

Advertising legend Raj Kamble is the only Indian Nominee at Campaign's Global Agency of the Year Awards 2023 list

MIT Technology Review Examines the Emergent Industrial Metaverse with Siemens AG


Teleperformance launches its futuristic new site in Hyderabad

A Resolution through Farmer's Training on the Water Crisis Management in Agrarian India

E Ink Teams up with Indian Tech OEM SuperUs to Drive Localization in India

Valuebound Attains AWS Advanced Consulting Partner Status, Offering Expert Cloud Migration Services

SafeHouse Tech launches SafetyScore to assess user's safety online

Mentoria Partners with Governments and Foundations to Make India #CareerReady

People in Asia seek to extend health span for longer, healthier retirement, Manulife survey shows

Omdia: Samsung leads while BOE increases small medium AMOLED shipment market share in 2022

BMO Recommends Shareholders Reject TRC Capital's Below-Market "Mini-Tender" Offer

APPTIO INDIA LLP Is Great Place to Work Certified for Second Year

BETT 2023: ViewSonic to Debut Expanded EdTech Solutions Across UNIVERSE Virtual Campus and myViewBoard Ecosystem


MNCs View CIIE as Launch Pad into Chinese Market

Kivu Consulting, Inc. announces strategic partnership with Microsoft

Argentina's Minister of Economy Sergio Tomás Massa and Top Silicon Valley Investors Marc Andreessen and Ben Horowitz to Speak at PRIORITY, Powered by FII Institute

Kixx Aims to Become Top Lubricant Brand Around the World, Highlighting Its Advanced Industrial Lubricants

Movable Ink Launches New Mobile Suite to Help Brands Worldwide Better Engage Customers on Their Channel of Choice


VCTI Announces Appointment of Scott Widham to Board of Directors

Lacework Marries its Global Partner Ecosystem with the Cloud Security Needs of Customers

Sennheiser Profile USB microphone provides ease of use and best-in-class audio

IBM Brings Generative AI Commentary and Hole-by-Hole Player Predictions to the Masters Digital Experience

Kohler Presents 'The Creator's Journey' at Milan Design Week

Omega Seiki Mobility (OSM) partners with cKers Finance to provide retail finance for electric three wheelers

AV-Comparatives awarded best-performing IT security software at Hasegg Castle / Royal Mint in Hall, Tyrol

Colgate-Palmolive promotes 'Innovation in Oral Health' in association with Indian Dental Association

Allstate India Named One of India's 40 Best Workplaces in Health and Wellness 2022 by Great Place to Work® Institute

Yokogawa Releases OpreX Asset Health Insights with Enhanced Functionality and Alibaba Cloud Support

STL's optical products testing labs rated highest on stringent quality standards set by NABL and TEC

2023 Africa Wealth Report Reveals 'Big 5' Host 56% of Continent's Millionaires

Scharf Investments Global Equity Strategy Awarded Mandate from a Key Nordic Pension Fund

Medanta Gurugram recognized as the Best Private Hospital in India Fourth Time in a Row

Hexaware's Vikash Jain Honored at ASSOCHAM Vibrant Bharat CFO Summit & Awards and CFO100 2023 Programme for Outstanding Financial Leadership

VdoCipher Video Player Powers 3,000+ Platforms across 120+ Countries

UST's CSR Initiatives Recognised at 2023 KMA Awards

Amway Applauded by Frost & Sullivan for Capitalizing on Innovative Competitive Strategies to Drive Differentiation in Its Home Water Treatment Solution in APAC

Colliers expands capital markets & investment business across asset classes

PR Newswire Sees 7% Growth in Asia-Pacific Release Distribution

QSnatch infections are the leading cause of malicious DNS traffic in Asia Pacific, according to latest findings by Akamai

KPG Roofings Opens Its First roof tile Showroom in Hyderabad and 40th showroom in India

Otr Elkalam: In the world's largest religious competition - A Saudi Opera Singer Eliminates a Voice Coach

The Organizing Committee of Memorial Ceremony to Ancestor Huang Di in his Native Place Held its Press Conference in Beijing

Aramco to expand presence in China by acquiring 10% stake in Rongsheng Petrochemical


Syndigo Announces Additional Generative AI Capabilities to its Client Platform

2026 All-Time High in Store for Global 300mm Semiconductor Fab Capacity After 2023 Slowdown, SEMI Reports

Tata Communications brings JAMVEE™ - an integrated, simplified cloud-based calling solution for global enterprises

38th Annual World Petrochemical Conference: Wanhua Chemical Shares Inspiring and Insightful Practice on Sustainability in Petrochemical Industry


Shipping industry can save $50 bn through four enablers of operational efficiency

LyondellBasell and EEW sign LOI for potential advanced waste sorting

Armis Achieves U.S. Department of Defense Impact Level 4 Authorization

The Second International Forum on "Democracy: The Shared Human Values" kicked off in Beijing

Bitget Becomes the First Centralized Exchange to Offer Financial Transparency Through Space and Time

Forever New Launches Exquisite SS23 Collection Featuring Pooja Hegde

Transparent & good governance, inclusive Growth and opportunities for all mark the emergence of New India under the leadership of PM Narendra Modi says Union MoS Rajeev Chandrasekhar

Inkspell set to organize the Video Media (vIdea) Awards & Summit 2023 on 27th April

Indian Low-voltage Switchgear Market Witnesses Surge Due to Pent-up Demand and an Increase in the Average Price

Aramco JV HAPCO to commence construction of major refinery and petrochemical complex in China

GCL System Integration Brings N-Type Innovation TOPCon and Latest BIPV Products to PV EXPO 2023

Aditi Mittal, Director at IndiaBonds and A. K. Group wins Times 40 Under 40 Award

Beamery Announces TalentGPT, the World's First Generative AI for HR

Appian appoints Douglas Coleman as Head of Mexico

Measure the Impact of Mantras on the Brain with the Sadhana app

International Aluminium Institute launches Aluminium Forward 2030 Coalition

Bharat KYC secures 'Fastest eKYC' and QuantPower bags 'Best Algo Trading Platform' Award from NITI Ayog Advisor & Bollywood Diva Bhagyashree

Transcoding and Content Security Workflow Simplified: INKA Entworks's PallyCon and Dolby Hybrik Join Hands for an Integrated Solution

ESG practices towards transformative change for a more sustainable world

Making Open Source Truly Open

The 3rd Conference of Great Business Partners to be held in Shandong

New Cryptocurrency BASALTCOIN set to Launch with a Mission to Revolutionize the Greentech Industry

CGTN: How China keeps its promise to build a community of common health for mankind

CGTN: Analysis: China's economic resilience boosts global recovery prospects

YourStory's TechSparks makes thundering debut in Mumbai: A two-day gala featuring India's top entrepreneurs, investors, innovators, and more

Opposition slams Odisha govt over Naba D...
DMRC employee injured by kite 'maanjha',...
Parl panel recommends multi-hazard risk ...
Two wanted criminals evading trials held...
Goa CM writes to embassies to import 'Fe...
S Jaishankar expresses condolence over G...
 Top Stories
Northeast Delhi riots: Court convic... 
IPL 2023: Chennai Super Kings annou... 
Over 22 lakh learners took Foundati... 
Rajasthan Minister urges PM Modi to... 
Delhi Assembly Speaker nominates Na... 
MoS Home Ajay Kumar Mishra reviews ... 
"Congress wants foreign interferenc... 
"No place for elitist mindset in Ne...