Pay for your course over time, not all upfront

StepEx finance lets you pay for a course at a participating education provider in monthly repayments instead of one upfront fee. The finance is a regulated credit agreement with StepEx Lender Ltd. You see the full cost before you sign, and you can withdraw from the finance within 14 days of signing.

Check if finance is available for your course Student FAQs

Finance is subject to eligibility and affordability checks. Approval is not guaranteed.

When StepEx may be right for you

StepEx finance may suit you if you have a place, or are applying for one, on an eligible course at a participating provider, you are 18 or over with a UK residential address, and you can afford the monthly repayments on your current or expected income. It is a loan: you will normally pay back more than the course fee, because of the fees and any interest, and missed repayments can affect your credit record. If you can pay the fee upfront without hardship, that is usually cheaper.

How StepEx works

Check your course. Finance is only available for listed courses at listed providers. Search by provider. Each provider's page shows the courses, the finance options and the representative example for each.
Apply online to StepEx. You'll be asked to verify your identity (normally with a passport), connect your bank through Open Banking or provide income evidence, and answer questions about your income and spending. StepEx also checks your credit history with Experian.
StepEx decides. StepEx assesses affordability and creditworthiness and applies any eligibility rules your provider has set. For some applications StepEx asks your provider to confirm your course details; the provider has 14 days to do so.
Read your documents. Before you sign you receive the pre-contract credit information, an explanation of the agreement and the agreement itself, showing the amount of credit, every charge, the total amount payable and the APR.
Sign, and your course fee is settled. StepEx settles the financed fee with your provider on the 1st of the month after you sign, or the 1st of the month your course starts if that is later. Your repayments start from that month.
Repay monthly. Invoices are normally due on the 28th of each month and are normally collected by Direct Debit on a date you choose. You can repay early at any time.

What you'll see before you decide

Every StepEx finance option carries a representative example showing the amount of credit, the charge for credit broken down by each fee, the total amount payable, the number and amount of repayments and the representative APR. Your own agreement shows the figures that apply to you. The APR reflects the total cost of the credit, including fees, so an APR can be above zero even where no interest is charged.

Fees

Fees vary by the course being funded and are listed on the individual provider pages. Depending on the course and finance option they may include a non-refundable application fee and a monthly platform fee, which is included in the monthly amount shown in the representative example and in your agreement. Some courses also require a deposit before the agreement starts, paid to your education provider or to StepEx as the provider page says; it is shown with the cash price in your agreement. Every fee that applies to you is shown before you proceed and in your agreement.

Types of repayment plan

Your education provider chooses which StepEx repayment plans to offer on your course, so the options you see on its provider page may be one, two or all three of these:

Payment plan. The same amount every month for a fixed term.

Payment plan with a minimum income threshold. The same monthly amount, but no repayment is due in any month your gross income is below the threshold in your agreement. You report your income each month through your StepEx portal.

Future earnings agreement. You repay a share of your gross income in months when you earn above the threshold in your agreement, for a maximum number of repayments within a maximum period. You report your income each month.

For the two income-linked plans, your agreement sets the threshold, the share, the maximum number of repayments and the evidence you must provide. If you do not report your income by the deadline, StepEx uses an assumed income to work out the repayment.

Your right to withdraw

You can withdraw from the finance agreement within 14 days of signing, without giving a reason. If the finance has already been used to settle your course fee (that happens on the 1st of the month after you sign, or the 1st of the month your course starts if later), you repay the amount of credit, plus any interest due, within 30 days of telling StepEx. Withdrawing from the finance does not cancel your place on the course. Leaving the course, deferring and refunds of course fees are matters for your education provider under its own terms.

If things don't go to plan

If you're worried about repayments, tell StepEx before you miss a payment. StepEx can consider what support is possible, and free, independent debt advice is available
If you miss repayments, an overdue payment fee set out in your agreement may apply, you'll receive the arrears notices the law requires, and the arrears may be recorded on your credit file with Experian. Continued non-payment can lead to a default being recorded and to enforcement action.
If you want to complain, StepEx has a complaints procedure and you can go to the Financial Ombudsman Service if you're not satisfied
If your course goes wrong, raise it with your provider first. If it affects your finance agreement, tell StepEx.

Responsible, regulated finance

StepEx Lender Ltd is authorised and regulated by the Financial Conduct Authority (FRN 824928). StepEx lends only where repayments look affordable on the evidence, shows every cost before you sign, and follows the FCA's rules on treating customers fairly. StepEx cannot give you financial advice; if you're unsure whether finance is right for you, MoneyHelper offers free, impartial guidance

Student FAQs

Yes. StepEx finance is a regulated fixed-sum credit agreement with StepEx Lender Ltd. You borrow the financed course fee and repay it in monthly repayments, together with the charge for credit shown in your agreement. It is not a grant, a scholarship or an instalment plan with your provider.

Find your education provider and course, choose the finance option, and follow the link to apply online to StepEx. You'll verify your identity, give income and expenditure information, and may be asked to connect your bank through Open Banking. Approval is not guaranteed.

You can start an application, but StepEx cannot approve finance until your place and course details are confirmed. For some applications StepEx asks your provider to confirm them, and the provider has 14 days to do so; if it doesn't, the application is declined automatically and your provider can ask StepEx to reactivate it, which is granted by exception and not normally more than once. Full details "Who can apply for StepEx finance, and what checks are involved?" on this page.

A valid passport (or, if you don't have one, a video identity check "What if I do not have a valid passport?"), your UK residential address, details of your income and regular spending, and either Open Banking access to your current account or income evidence such as your HMRC PAYE summary. Your provider's referral code, if the course uses one.

StepEx checks your credit history with Experian when you apply. Once you have an agreement, StepEx reports your repayment history to Experian: paying on time can help your credit record; missed repayments and defaults can harm it.

View all student FAQs

Help and support

Ready to apply?

Find your education provider and course to see the finance options and apply

Finance is provided by StepEx Lender Ltd and is subject to eligibility and affordability checks. Approval is not guaranteed. Missed repayments can affect your credit record.