₦airaland Forum

Hello everyone.

I trust your day is great so far?

I need advice whether I should go for prodigy finance loan.

I’m working full time remote as a digital marketing specialist with my main focus being email marketing. However, I have the skilled required for a digital marketing specialist such as SEO, website development, social media management, email marketing, graphic design and HTML and css knowledge.


However, I will like to boost my career further, I want to study marketing as masters degree and I have reached out to schools supported by prodigy finance in the UK. I believe with my four years working experience I should secure an admission.


But the problem here is the question does it worth it to get into debts for masters in the abroad ?


On average, I will be needing $30k tuition fee and living expenses or should I say for one of the school I will be applying for. The other school cost approximately $41k (with $10k leaving expenses )


Now, my fear is can I get jobs to pay back?

Also, if you have taken prodigy finance loan, please does the $500 upfront payment applicable ? If yes did you pay it to secure your loan?

iamsamdeyking:
Hello everyone.

I trust your day is great so far?

I need advice whether I should go for prodigy finance loan.

I’m working full time remote as a digital marketing specialist with my main focus being email marketing. However, I have the skilled required for a digital marketing specialist such as SEO, website development, social media management, email marketing, graphic design and HTML and css knowledge.


However, I will like to boost my career further, I want to study marketing as masters degree and I have reached out to schools supported by prodigy finance in the UK. I believe with my four years working experience I should secure an admission.


But the problem here is the question does it worth it to get into debts for masters in the abroad ?


On average, I will be needing $30k tuition fee and living expenses or should I say for one of the school I will be applying for. The other school cost approximately $41k (with $10k leaving expenses )


Now, my fear is can I get jobs to pay back?

Also, if you have taken prodigy finance loan, please does the $500 upfront payment applicable ? If yes did you pay it to secure your loan?

I think your fears are very valid and you should consider it carefully.
I don't have answers to your questions as I haven't even heard about them before.

But my concern is, is it worth taking such a huge loan for education purposes when there's no certain job waiting for you at the end of your education, or at least a residence permit or something more tangible than just a perper certificate that hundreds of thousands of others roaming the street also have? How long will it take you to repay the loan even even if you get an entry level job abroad after? Wouldn't it be more practical to use that loan (most likely a much smaller amount ) to relocate through reputable agencies (I'm sure you may know 1 or 2) either for job or strictly emmigration rather than study route?
Just my thoughts though, pardon me for derailing the topic.

thesicilian:
I think your fears are very valid and you should consider it carefully.
I don't have answers to your questions as I haven't even heard about them before.

But my concern is, is it worth taking such a huge loan for education purposes when there's no certain job waiting for you at the end of your education, or at least a residence permit or something more tangible than just a perper certificate that hundreds of thousands of others roaming the street also have? How long will it take you to repay the loan even even if you get an entry level job abroad after? Wouldn't it be more practical to use that loan (most likely a much smaller amount ) to relocate through reputable agencies (I'm sure you may know 1 or 2) either for job or strictly emmigration rather than study route?
Just my thoughts though, pardon me for derailing the topic.

Trust me you have a point but I don’t know any company that offer loan for people who want to travel to work. If you know any I will take it honestly

I once sent an email to Prodigy Finance when I planned to study abroad. I did my search on the website and saw no Japanese university, not even the revered University of Tokyo. Anyway, I asked if it covers universities in Japan, and the response was they are still covering more schools. The model of Prodigy Finance is heavily reliant on immigration policies that enable foreign postgraduate students to find jobs (good jobs) in the host universities' countries.

To its model credit, PF (for short) only enlists the top universities in the countries it covers, and rightfully so. What you as the applicant have to is to study the job/career opportunities for graduates of your intended course and most importantly, the post-school work policies of your intended country. All countries are not the same. So, it is not just the loan, but the ability to repay the loans. Remember, the loans are in pounds (since it is the UK) and run for a decade or so. The question is: if you cannot find a good job in the UK (your target), what alternatives do you have to be able to repay the loans? Would your current business/job be able to finance the loan in the future even if you return to Nigeria (I presume you reside there)?

Recently, the Economist reported on MBA employment figures in the US, and the percentage plunge by many top schools was startling.
For citizens, they can extend their loans' payment duration, the loans are in their currencies, they can always live in the country indefinitely etc. For many immigrants such as Indians and our people, it becomes difficult. So, for this reason, check the universities to know their RECENT foreign alumni job trajectories.

As I stated in the sociology thread, studying abroad is good, but funding is equally important. Sure, everyone doesn't come from the same background, but I believe things should be easier, or a little bit easier, going forward rather than continual suffer-head here and there. It was part of the reasons I stuck with my intention to study in Japan because, from my research, there were more scholarships in the system than outside. The MEXT scholarship by the Japanese government is uber-competitive such that the only folks with 2.1. I have met are those we call "strong 2.1.", from federal universities and have cognate research experience. This applies to almost every African I have met who is sponsored by the MEXT - they finished top of their classes in their respective home universities. So, I did not bother to compete with them. I made a list of scholarships available to graduate students in my then university, applied to them as they were published and got two generous ones. At a point, the reviewing board jokingly told me to stop applying.

Mind you, I am not saying you should choose Japan, please don't as marketing will involve speaking Japanese. But I am saying you should do your hard research on the job market, rate the ease of foreign graduates to find good jobs and the immigration policies in your country of choice. Alternatively, with your years of experience, target jobs in Dubai and maybe South Africa. From there, you get foreign experience (on-site this time) and further build your career. While along, take elective abi short-courses within your field to build on your knowledge base.

Another thing to consider is how to convince the visa official you will return to Nigeria since it is a foreign financial firm that is sponsoring your studies via a dollar/pound denominated loan.

cc: iamsamdeyking

thesicilian:
or at least a residence permit or something more tangible than just a perper certificate that hundreds of thousands of others roaming the street also have? How long will it take you to repay the loan even even if you get an entry level job abroad after? Wouldn't it be more practical to use that loan (most likely a much smaller amount ) to relocate through reputable agencies (I'm sure you may know 1 or 2) either for job or strictly emmigration rather than study route?
Just my thoughts though, pardon me for derailing the topic.

This is the Dubai and South Africa aspect I mentioned. Check Morgan Mckinley, Michael Page, Robert Walters and numerous specialist recruitment agencies with offices in both places. Submit your CV and have them call you. They will call you if it matches the jobs they have to offer. You don't have to pay, and should not pay any recruitment agency. The agency gets paid by the employing organisation. It is in their interest to match you to jobs since they get paid for it. You don't have to pay. However, there is no guarantee though as the employing organisation has the final right to employ or not, not the agency.

"recruitment agencies for marketing jobs in dubai" - Google Search.

Sorry to say but Prodigy finance haven’t extend their services to Japan. I’ve had a lot of things about Japan and I think I like the city. In my case, traveling out of Nigeria is not just an option but an opportunity to build myself and become a better person.

Marketing is a wide niche which encompasses a lot of subdomains that can be practiced either employed or not but the big question remains “how do I plan to pay back?”

From my view, while I study i will still work remotely by pushing my current digital marketing agency. Hopefully, I could have funding to achieve things that are limiting here in Nigeria because of the cost. As a Nigerian, having to budget $20-$30 a week to run a viable business is not an easy task. Committing to a business model without sufficient capital can be frustrating not to mention the high costs of living.

So if you ask me, what’s your repayment plan ?

I will say my immediate repayment plan is my business and how I can provide businesses with my services as a freelancer.

Is that visible? Can I manage to keep up with the living expenses not mentioning paying for a loan?

Well, at least, I can do more than one job and hire people (through platform like Upwork or fiverr) to do the jobs while I act as the manager.

If however, I secure a job with the degree with a plan B, it doesn’t stop my business. I can still run it on a low while working.



However, my key take away from your post is “RECENT foreign alumni job trajectories” I will try to search online and on LinkedIn to see if I can meet anyone from there.

Gerrard59:
I once sent an email to Prodigy Finance when I planned to study abroad. I did my search on the website and saw no Japanese university, not even the revered University of Tokyo. Anyway, I asked if it covers universities in Japan, and the response was they are still covering more schools. The model of Prodigy Finance is heavily reliant on immigration policies that enable foreign postgraduate students to find jobs (good jobs) in the host universities' countries.

To its model credit, PF (for short) only enlists the top universities in the countries it covers, and rightfully so. What you as the applicant have to is to study the job/career opportunities for graduates of your intended course and most importantly, the post-school work policies of your intended country. All countries are not the same. So, it is not just the loan, but the ability to repay the loans. Remember, the loans are in pounds (since it is the UK) and run for a decade or so. The question is: if you cannot find a good job in the UK (your target), what alternatives do you have to be able to repay the loans? Would your current business/job be able to finance the loan in the future even if you return to Nigeria (I presume you reside there)?

Recently, the Economist reported on MBA employment figures in the US, and the percentage plunge by many top schools was startling.
For citizens, they can extend their loans' payment duration, the loans are in their currencies, they can always live in the country indefinitely etc. For many immigrants such as Indians and our people, it becomes difficult. So, for this reason, check the universities to know their RECENT foreign alumni job trajectories.

As I stated in the sociology thread, studying abroad is good, but funding is equally important. Sure, everyone doesn't come from the same background, but I believe things should be easier, or a little bit easier, going forward rather than continual suffer-head here and there. It was part of the reasons I stuck with my intention to study in Japan because, from my research, there were more scholarships in the system than outside. The MEXT scholarship by the Japanese government is uber-competitive such that the only folks with 2.1. I have met are those we call "strong 2.1.", from federal universities and have cognate research experience. This applies to almost every African I have met who is sponsored by the MEXT - they finished top of their classes in their respective home universities. So, I did not bother to compete with them. I made a list of scholarships available to graduate students in my then university, applied to them as they were published and got two generous ones. At a point, the reviewing board jokingly told me to stop applying.

Mind you, I am not saying you should choose Japan, please don't as marketing will involve speaking Japanese. But I am saying you should do your hard research on the job market, rate the ease of foreign graduates to find good jobs and the immigration policies in your country of choice. Alternatively, with your years of experience, target jobs in Dubai and maybe South Africa. From there, you get foreign experience (on-site this time) and further build your career. While along, take elective abi short-courses within your field to build on your knowledge base.

Another thing to consider is how to convince the visa official you will return to Nigeria since it is a foreign financial firm that is sponsoring your studies via a dollar/pound denominated loan.

cc: iamsamdeyking

iamsamdeyking:
Sorry to say but Prodigy finance haven’t extend their services to Japan. I’ve had a lot of things about Japan and I think I like the city. In my case, traveling out of Nigeria is not just an option but an opportunity to build myself and become a better person.

Marketing is a wide niche which encompasses a lot of subdomains that can be practiced either employed or not but the big question remains “how do I plan to pay back?”

From my view, while I study i will still work remotely by pushing my current digital marketing agency. Hopefully, I could have funding to achieve things that are limiting here in Nigeria because of the cost. As a Nigerian, having to budget $20-$30 a week to run a viable business is not an easy task. Committing to a business model without sufficient capital can be frustrating not to mention the high costs of living.

Are the majority of your clients Nigerian/African? Do you have foreign clients who pay in USD? Since your expenses are in USD, it makes business sense to have USD clients. If the degree is for learning purposes or personal gratification (there is nothing wrong with this—it was one of mine), then go for it. But I strongly recommend you try to enrol in a specific and targeted marketing program, especially the one with strong ties to major employers.

Getting a job depends on the host country's economy and visa policies for international students. As for recent graduates, focus on international/foreigners, not citizens. Ask as many as possible. I believe the calibre of schools (sorry, I am too ranking obsessed sha) by Prodigy Finance would do justice to attract employers, but the overall state of the economy and visa policies supercede it.

Gerrard59:
Are the majority of your clients Nigerian/African? Do you have foreign clients who pay in USD? Since your expenses are in USD, it makes business sense to have USD clients. If the degree is for learning purposes or personal gratification (there is nothing wrong with this—it was one of mine), then go for it. But I strongly recommend you try to enrol in a specific and targeted marketing program, especially the one with strong ties to major employers.

Getting a job depends on the host country's economy and visa policies for international students. As for recent graduates, focus on international/foreigners, not citizens. Ask as many as possible. I believe the calibre of schools (sorry, I am too ranking obsessed sha) by Prodigy Finance would do justice to attract employers, but the overall state of the economy and visa policies supercede it.

I get paid in USD.

I’ve started to talking with a lot of them on LinkedIn today. Thanks very much for the insight.

Gerrard59:
I once sent an email to Prodigy Finance when I planned to study abroad. I did my search on the website and saw no Japanese university, not even the revered University of Tokyo. Anyway, I asked if it covers universities in Japan, and the response was they are still covering more schools. The model of Prodigy Finance is heavily reliant on immigration policies that enable foreign postgraduate students to find jobs (good jobs) in the host universities' countries.

To its model credit, PF (for short) only enlists the top universities in the countries it covers, and rightfully so. What you as the applicant have to is to study the job/career opportunities for graduates of your intended course and most importantly, the post-school work policies of your intended country. All countries are not the same. So, it is not just the loan, but the ability to repay the loans. Remember, the loans are in pounds (since it is the UK) and run for a decade or so. The question is: if you cannot find a good job in the UK (your target), what alternatives do you have to be able to repay the loans? Would your current business/job be able to finance the loan in the future even if you return to Nigeria (I presume you reside there)?

Recently, the Economist reported on MBA employment figures in the US, and the percentage plunge by many top schools was startling.
For citizens, they can extend their loans' payment duration, the loans are in their currencies, they can always live in the country indefinitely etc. For many immigrants such as Indians and our people, it becomes difficult. So, for this reason, check the universities to know their RECENT foreign alumni job trajectories.

As I stated in the sociology thread, studying abroad is good, but funding is equally important. Sure, everyone doesn't come from the same background, but I believe things should be easier, or a little bit easier, going forward rather than continual suffer-head here and there. It was part of the reasons I stuck with my intention to study in Japan because, from my research, there were more scholarships in the system than outside. The MEXT scholarship by the Japanese government is uber-competitive such that the only folks with 2.1. I have met are those we call "strong 2.1.", from federal universities and have cognate research experience. This applies to almost every African I have met who is sponsored by the MEXT - they finished top of their classes in their respective home universities. So, I did not bother to compete with them. I made a list of scholarships available to graduate students in my then university, applied to them as they were published and got two generous ones. At a point, the reviewing board jokingly told me to stop applying.

Mind you, I am not saying you should choose Japan, please don't as marketing will involve speaking Japanese. But I am saying you should do your hard research on the job market, rate the ease of foreign graduates to find good jobs and the immigration policies in your country of choice. Alternatively, with your years of experience, target jobs in Dubai and maybe South Africa. From there, you get foreign experience (on-site this time) and further build your career. While along, take elective abi short-courses within your field to build on your knowledge base.

Another thing to consider is how to convince the visa official you will return to Nigeria since it is a foreign financial firm that is sponsoring your studies via a dollar/pound denominated loan.

cc: iamsamdeyking

Always apt, detailed and intelligent in analysing academic, intellectual and economic issues