StepEx Future Earnings Agreement

StepEx Future Earnings Agreement (FEA) provides the ability to pay for a qualification with a share of a student’s future earnings. Instead of paying the full fee upfront, participants can instead pay a fixed share of their earnings for 36 or 60 months after they graduate. The amount repaid is; variable based on earnings, capped, is for a finite period of time and likely to be suitable even for those who are unable to secure traditional financing.

At a glance

Suitable for Applicants fromUK, EU
DeadlineOn going
Funding provider(s)Step Exchange Limited

Who can apply

Repayments Scale:

The amount you (the student) pay for a course is not fixed and is instead linked to your future earnings. If your salary goes down or is less than you expect, you will repay less, and equally if your salary is more than you expect you will pay more. If your future earnings are low, then you may even repay a total of less than the original course fee. You will never repay more than a maximum capped amount that is defined at the outset and typically 200% of the course fee reduction (the amount borrowed).

FEAs do not compound over time with interest. Repayments are paused if your income drops below £25,000, the total number of repayments is capped, and so is the maximum amount you will ever repay.

There is a limited amount of FEA funding available - it is distributed based upon merit and need at the SOLE discretion of StepEx Group, an FCA authorised financial institution. Currently this form of finance is only available to UK / EU passport holders with a UK / EU bank account.

For further information please refer to the frequently asked questions section of the StepEx website.