Pay for your course over time
Flexible tuition finance for selected Skybound Pilot Training courses
StepEx works with Skybound Pilot Training to offer regulated tuition finance for selected courses, allowing students to spread the cost of education over time.
Finance is optional and separate from your course application.
Your course is delivered by Skybound Pilot Training. Finance is provided by StepEx Lender Ltd.
How StepEx works for Skybound Pilot Training students
- You apply for your course with Skybound Pilot Training.
- If you wish to spread the cost, you can apply separately for finance with StepEx.
- If approved, StepEx settles the financed portion of your course fees.
- You repay StepEx over time, based on the terms you agree.
Approval is subject to eligibility and affordability checks.
Finance available for selected Skybound Pilot Training courses
Finance is optional and separate from your course application. Costs, including any interest or charges for credit, vary by course and finance option.
The representative example/s below show how StepEx finance works. Your actual course fee, repayment terms and payments will depend on the course and finance option you select and will be shown before you enter into a credit agreement.
Future Earnings Agreement
Repay 10% of your verified gross income whenever your verified gross income for that payment period is at or above the minimum income threshold. If your verified gross income is below the minimum income threshold, no income-linked repayment is due for that payment period. A charge for credit and a monthly platform fee apply. The amount you actually repay may be lower if the waiver provisions in your credit agreement apply.
Representative example
- Cash price / amount financed
- £10,000.00
- Annual rate of interest
- 0.00% per annum (fixed)
- Charge for credit
- £5,000.00
- Minimum verified gross income
- £2,500 per month
- Repayment rate
- 10% of verified gross income
- Repayment months
- 36 months
- Duration of the agreement under this representative example
- 13 months
- Maximum agreement duration
- 60 months
- Repayments under this representative example
- 12 monthly payments of £1.00, followed by one payment of £14,988.00 in month 13
- Total amount payable
- £15,000.00
- Representative APR
- 45.4% APR representative
Examples based on different verified gross incomes after graduation
| Verified gross income | Illustrative repayments | Agreement duration | Total amount payable |
|---|---|---|---|
| £200,000/month (£2.4m/year) | 12 monthly payments of £1.00 during the course, followed by one payment of £14,988.00 one month after the course ends | 13 months | £15,000.00 |
| £2,500/month (£30k/year) | 36 monthly payments of £251.00, comprising a £250.00 income-linked repayment and the £1.00 monthly platform fee | 48 months | £9,048.00 |
| £2,083/month (£25k/year) | 60 monthly payments of the £1.00 platform fee and no income-linked repayments | 60 months | £60.00 |
These examples assume a 12-month course.
Income verification
Your gross income must be reported to and verified by StepEx by the due date for each payment period. If it is not, an assumed income will be used in accordance with your credit agreement.
How this representative example works
The Representative APR assumes the borrower has verified gross income of at least £200,000 in the first month after the course ends. This means the maximum amount possible is repaid at the earliest opportunity permitted under the agreement, resulting in repayment of the total amount payable. The lower-income examples show how the amount actually repaid may be lower. Where provided for in the credit agreement, any remaining balance may be waived in accordance with its terms.
Finance options available for Skybound Pilot Training courses
No general financing options are listed for upcoming courses at this time, if you would like to understand if you can apply for financing options for your chosen course please ask your education provider.
Who may be eligible
You may be eligible to apply for StepEx finance if you:
- are applying for an eligible course delivered by Skybound Pilot Training; and
- meet StepEx's affordability and eligibility criteria.
Approval is not guaranteed. StepEx assesses all applications, and where demand exceeds available funding, not all applicants will be approved.
Costs and fees
All costs are shown clearly before you decide.
Depending on the course and finance option, these may include:
- •a non-refundable application fee of £20 per application;
- •a non-refundable deposit (course-dependent): £250.00;
- •a platform or administration fee of £1 per month;
- •interest or other charges for credit detailed in your credit agreement.
The total amount payable, any other charges and repayment schedule will be shown before you enter into any agreement.
Managing your finance
If you take out StepEx finance:
- your credit agreement is with StepEx Lender Ltd;
- repayments and account management are handled through the StepEx online portal; and
- you can view balances, repayments and key documents digitally.
You should be comfortable managing your agreement online. Support is available via the StepEx portal, chat and email.
Important information
- StepEx finance is optional and separate from your course application.
- Education providers do not lend to students or set repayment terms.
- Regulated credit is provided by StepEx Lender Ltd.
- Only the information shown on your provider-specific StepEx page and in your pre-contract information and credit agreement should be relied upon.
- If you miss payments due under your agreement with StepEx, we may, in line with your agreement and privacy notice, notify your training provider that your account is in arrears and they may act on this in line with their policies.
Regulated credit is provided by StepEx Lender Ltd, an FCA-authorised consumer credit firm (FRN: 824928), a wholly owned subsidiary of Step Exchange Ltd. Finance is subject to eligibility and affordability checks.
Postal address: StepEx Lender Ltd, Complete HQ, 2 Bridge Court, Kingsmill Road, Saltash, Cornwall, PL12 6LS, United Kingdom.