Question 1

Is StepEx a loan?

Accepted Answer

StepEx provides regulated credit agreements to help eligible students pay tuition fees over time. While repayment terms may differ from traditional loans, you are borrowing money and must repay it in line with your credit agreement.

Question 2

How do I apply?

Accepted Answer

To apply with StepEx, you must receive a unique application link from your education provider's admissions or enrolment team. This link will take you to a StepEx page that sets out the finance options available for that specific course and education provider, including any eligibility requirements or restrictions. If you have not received a link, please contact the admissions or enrolment team at your chosen education provider to ask whether they work with StepEx and, if so, to request the application link.

Question 3

Can I apply before I have a confirmed offer?

Accepted Answer

Only in limited circumstances. You can apply before receiving a confirmed offer only if your education provider has arranged this directly with StepEx on your behalf. If this applies to you, please contact the admissions or enrolment team at your education provider and ask them to make a request to StepEx directly. StepEx works with education providers on a partner basis. If your chosen education provider does not currently work with StepEx, we will not be able to offer finance for that course.

Question 4

What information will I need to provide?

Accepted Answer

When you apply, StepEx will ask for information needed to assess affordability and eligibility. This may include: proof of identity and nationality, using a valid passport or national ID card (these are the only forms of identification we accept); access to a device with a camera to complete identity and security checks; permission for StepEx to access your credit file; and for some applications, permission to securely access bank transaction data so StepEx can assess basic living expenses as part of the affordability check. The information required is used to meet regulatory requirements, prevent fraud and assess affordability. The exact checks applied will depend on the product and your individual circumstances. Your education provider is not involved in assessing affordability or approving finance.

Question 5

Will applying affect my credit record?

Accepted Answer

Making an application may involve a credit assessment. If you enter into a credit agreement, your repayments will be reported to credit reference agencies in line with your agreement. Missed repayments may negatively affect your credit record.

Question 6

What happens if my circumstances change?

Accepted Answer

For some products, if your income falls below the minimum threshold, repayments may be reduced or paused if you submit income evidence in the required format by the deadline. You may also apply for a financial distress consideration. If you can evidence to StepEx's satisfaction that making repayments would place you into financial difficulty, StepEx will attempt to restructure repayments to better suit your circumstances. If repayments are missed, arrears may accrue and your credit record may be affected. Continued non-payment can result in enforcement action, as set out in your credit agreement.

Question 7

Who do I contact if I have questions before applying?

Accepted Answer

If your question relates to: whether your course offers StepEx finance, or how to obtain an application link, you should contact the admissions or enrolment team at your education provider. StepEx is only able to assist once an application link has been issued by the education provider.

Question 8

Who do I contact once I have applied?

Accepted Answer

Once you have submitted an application, StepEx will contact you directly regarding: your application, any additional information required, your credit agreement, repayments and account management.

Question 9

What if I want to complain?

Accepted Answer

If you are unhappy with how your application or credit agreement has been handled, you can make a complaint to StepEx. If your complaint is not resolved to your satisfaction, you may be able to escalate it to the Financial Ombudsman Service.

Question 10

Should I seek independent advice?

Accepted Answer

You may wish to seek independent financial advice before entering into a credit agreement.

Application fee	course dependent, typically £20
Deposit	course-dependent
Monthly platform fee	typically £1 (can range from £0–£15)

Student FAQs

Typical application costs