Fund your LLM in the USA with Prodigy Finance
Making the decision to pursue an LLM is a significant moment in the life of a lawyer, and deciding to study overseas is even more so. Pursuing an LLM has the benefit of strengthening a lawyer’s domain expertise and opening up opportunities to practice globally. This makes an LLM a compelling option for many lawyers seeking to expand their career opportunities and strengthen their ability to do cross-border work. Obtaining international expertise is often the goal, so it makes sense for students to complete their LLM outside of their home country. This gives lawyers an opportunity to expand their global network, understand the law in a broader context, plus it gives them the prestige of completing a degree at a global elite law school.
Undoubtedly, LLM candidates have plenty of ambition and talent, but often don’t have the financial resources it takes to fund an LLM in another country. While most LLM programs only take one year to complete, the cost of tuition and living expenses add up to become a tremendous barrier for lawyers hoping to complete their LLM abroad, particularly in a challenging macro-economic environment. These expenses for students can often range from £55,000 to £65,000 ($80,000 to $90,000 USD).
Traditional ways to fund your LLM
A traditional way of funding an LLM is through personal savings, but obviously savings would need to be significant, and many simply can’t afford it. Other common funding channels are through scholarships and grants, and company sponsorships – these are often the most desirable way to fund an LLM.
However, as the competition for a few seats at the most competitive law schools intensifies, the ability to obtain such desirable sources of funding has become increasingly difficult year on year. Private student loans are now a welcome choice for lawyers to fund their LLM degrees. In the past it has been extremely difficult for international students to obtain private loans in their home country to pursue education in the United States and Canada without putting up significant collateral or having a co-signer. Over the last few years, however, global finance has developed exciting new alternatives to the old options for funding an LLM program, which can make it easier for international students to fund their degree at the world’s top law schools.
Prodigy Finance – The new funding plan
Prodigy Finance is one company providing a new alternative for international students to go further and pursue their professional dreams. Prodigy Finance started with providing funding for international MBA students, and the three founders were international students themselves. Now, through a unique credit assessment model, Prodigy Finance offers collateral-free, no-cosigner education loans to lawyers attending the world’s best LLM programs.
Michael Hollis is one of Prodigy Finance’s Student Relationship Managers for North America, he’s a strong believer in the transformative power of higher education and loves helping students achieve their ambitions. He says, "The company recognises the value of international postgraduate study, which is why Prodigy is expanding to offer funding for international LLM students, as well as MBAs and other masters degrees. A Prodigy loan is also an attractive option for lawyers looking to break free from any limitations that an employer sponsorship may have."
So if you are interested in taking the next step in your legal career? Prodigy Finance is currently accepting applications from international students from around the world who are attending top-ranked US Law Schools. Visit the Prodigy Finance website for more details.
Prodigy Finance is one of many potential funding options for international postgraduate students. Other student funding options are available and LLMstudy.com advises you to research all your options thoroughly before making such a commitment. LLMstudy.com accepts no responsibility for your choice of loan and does not endorse or support Prodigy Finance. Prodigy Finance Ltd is authorised and regulated by the Financial Conduct Authority, and entered on the Financial Services Register under firm registration number 612713.