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Frequently Asked Questions

Will getting a quote impact my credit score?

No, your credit score will not be affected by receiving a quote for a loan, or for receiving an offer and declining it.

Who can take out a loan with StepEx?

Anyone who fulfils our eligibility requirements listed on our home page, however our quote will be subject to our assessment of your circumstances.

I’m an international student, can I apply?

StepEx currently only allows UK permanent residents to use their platform.

How much can I borrow?

You can borrow up to the total course fee, and up to £12,500 for living expenses, but how much we will lend is ultimately subject to our assessment of your circumstances.

Can I apply before I have a confirmed offer from University?

Yes, but before you receive the money you will need to verify your status as a student.

What happens if I don’t earn enough?

You won’t be required to make any repayments whilst your annual income is less than £21,000.

However, because the term of a StepEx loan is linked to the number of repayments you make rather than a fixed period of time (unlike a typical unsecured personal loan which is likely to have a fixed term – for example, 5 years) the term of your loan will be longer as a result of any periods during which you do not make repayments.

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This website is made available by Step Exchange Limited. Registered office: 1 Rookery House The Street, Crookham Village, Fleet, England, GU51 5RX. Registered in England and Wales with company number 10880923. All information in relation to loans is issued by StepEx Lender Limited, a wholly-owned subsidiary of Step Exchange Limited. StepEx Lender Limited is authorised and regulated by the Financial Conduct Authority as a consumer credit lender (Firm Reference Number 824928). Registered office: 30 Strand, London, England, WC2R 1ES. Registered in England and Wales with company number 11640058.