Shape your Future With NuYew Tech Academy
NuYew Tech Academy doesn’t just provide training, as specialists in new tech career options, they support your complete journey right the way up to until you’re settled and happy on your new career path.
Details of Your Payment Plan
Interest-Free Payment Plan: With this agreement you can make timely monthly payments to cover your tuition fees without incurring any interest charges. While administrative fees may be imposed for missed payments, no interest will be added to the outstanding amount.
Key Features of Payment Plan
Repayments are set at an equal monthly amount over your repayment, other than your first repayment which may be higher to account for an upfront payment or arrangement fee. Evenly spread over your period of study, starting with a payment one month from the moment you sign the contract, with a total value equal to the tuition fee charge plus the setup costs, with no interest added.
12 Months Payment Plan
£200 upfront + 11 monthly payments of £316.25 with the last payment of £316.25
24 Months Payment Plan
£200 upfront + 23 monthly payments of £158.13 with the last payment of £158.01
Key Features of Future Earnings Agreements (FEAs)
Future Earnings Agreements: With this agreement, you commit to repaying a fixed percentage of your post-course earnings, but only when your gross annual income is at least £22,000. Your total repayment amount is directly linked to your future income, requiring you to pay less than the average earner if your earnings are
lower and more if they are higher. Rest assured, there is a cap on the maximum amount you could ever repay.
Please click here for video on FEAs.
Details of Your Future Earnings Agreements
Repayments are set to start once you graduate and start earning at least £22,000. You will then repay a small percentage of your income for a fixed period of time. Depending on your post-course performance you might repay £0 if you do not meet the income threshold. Conversely, you might repay more if you excel in your career after completing the course. The maximum amount you might ever repay is limited to £9,600.
Student Offer:
£250 upfront + 7% gross income for 36 months when earning at least £22,000 gross income per annum.
The Maximum Amount Payable is £5,000 and the Maximum Repayment Term is 96 months.
How to Apply for Finance
1. Apply for your course.
2. Once accepted complete the StepEx Application Process.
3. Complete the Identity Verification, Credit Check, and provide Open Banking Access.
4. If approved, complete the borrower upfront payment.
5. Read the terms of your financing and sign your financing contract with StepEx.
6. Start your course.
Eligibility Criteria
Eligibility for StepEx financing is defined by both StepEx and the education provider.
To be eligible for finance you must:
• Be aged over 18
• Have been offered a place on your course
• Not be on any sanctions or watchlists
• Be likely to be able to afford repayments
• Not have a history of non-repayment of your financial obligations
• Be suitable for this type of product
In addition, your education provider has imposed the following eligibility criteria for course places that can be financed with this agreement. These may be based on your right to work, characteristics that are uncommon on the course and your creditworthiness:
• Be a UK / EU citizen
• Be a UK / EU resident with the right to work in the UK/EU for at least one year post graduation
• Other nationalities on a case by case basis
Charges
In addition to the repayment of your finance agreement the following charges apply:
1. Borrower Application Fee: £20
2. Borrower Upfront Payment: £250 / £200
3. Default charge: If you fail to make the required payments for 90 days we reserve the right to terminate your agreement in which case all outstanding repayments become due. We then reserve the right to pass the debt to a debt collector who will charge you for their costs of collecting the debt from you.
Conditions
The full terms and conditions of your financing agreement are set out in your credit agreement.
