Student
Finance
A new way to fund your future
A StepEx Future Earnings Agreement is student finance based on your financial future – not your income history. We help you cover your course fees, and you repay them as a percentage of your future earnings over a fixed time period. The more you earn, the more you repay.
Good to know:
- StepEx is the first regulated provider of FEAs in the UK.
- You only make repayments when you earn above a minimum income threshold.
- The amount you pay for your course depends on your actual earnings.
- If your salary is less than expected, then you repay less.
- If your salary is more than expected, then you repay more.
- The total amount owed is capped.
- Earn more and you can repay the loan earlier.
- Earn less and extra payments are not needed.
Why StepEx?
Regulated by the Financial Conduct Authority (FCA)
We’re fully regulated and compliant with the FCA to ensure our customers are treated fairly and have full transparency of relevant information.
Our Future Earnings Agreement is a first-of-its-kind product
Similar products, such as Income Share Agreements, exist in other parts of the world – but they’re unregulated and don’t offer consumer protection.
Partnered by top qualification providers in the UK
Our trusted partners are top qualification providers seeking to make their best courses affordable to the less wealthy majority.
How it works
Apply online
Receive funding
Start studying
Share success
Are you eligible?
Check the following requirements before you apply:
- Over 18
- UK or EU legal resident
- UK bank account holder
- Confirmed course acceptance
- Pass a background check
- No history of financial crime
Ready to apply for a StepEx Future Earnings Agreement?
Student success stories
Our current partners
Popular course options
Representative Example
- Jane needs £20,000 to finish her MBA.
- StepEx offers her an FEA of £20,000.
- Jane qualifies and begins her new job.
- Jane repays 7.4% of her gross income over 5 years.
2022
2023
2024
2025
2026
Probability of Earnings
A Future Earnings Agreement (FEA) is based on what you earn, so the amount you repay is not fixed. It does not have a fixed APR or interest rate like traditional debt products.
So if you earn more than expected, the amount you repay will be higher. If you earn less than expected, the amount you repay will be lowered.
Based on historic earnings data, the provides an indication of how much you are likely to repay in total for a typical course.
For example, if you borrowed £10,000 and repaid £12,000 over a 5-year period, you would have repaid 120% of the amount you borrowed.
FEA Calculator
Find out how much of your future earnings you could be investing in yourself right now.
The maximum amount repaid is between 1.5x and 3x the amount borrowed depending on the course provider- there is a very low probability that a borrower will ever repay the maximum amount given that they would need to earn substantially more than the projected income. If annual income never exceeds the minimum repayment amount, typically £25,000, then you will make no repayments until you earn over a defined minimum threshold. To ensure this product is affordable there are restrictions on how much of your future earning you can commit, typically this limit is 15%. This calculation is based on an approximate equivalent 9% APR. The expected cost of StepEx finance can range from 0% APR to 9% APR depending on the course. If you earn more than expected you will repay more and if you are earn less than expected you will repay less.
Ready to step up with StepEx?
If you think you’re eligible, apply now or find out more.
Not sure where to go? Try our help section.
