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Higher education had been the gateway to a prosperous career. However, with skyrocketing tuition fees, students are compelled to take out loans, presented with the dilemma of choosing education over debt burden. Not every student is fortunate enough to land a high-paying job post-graduation, leading to an alarming amount of defaults. StepEx enters the picture with a unique solution that offers a share in future income, thereby eliminating the financial burden on students while providing affordable education
StepEx provides a marketplace for borrowers to fund their education by selling a share in future income for a defined period. StepEx enables students to take out loans without the need to pay the principal amount, interest or even take on personal debt. Instead, they agree to share a percentage of their future income, for a specific period, allowing them to prioritize their careers without the added financial burden.
Additionally, StepEx offers a unique investment opportunity in the form of a non-correlated high yield asset class to investors. Corporates can also tap into this platform to sponsor the education for talented candidates, providing unparalleled benefits over conventional HR search and selection costs.
How StepEx Works
StepEx offers an innovative approach to education funding that benefits both students and investors. Here’s how it works:
- Students apply for funding: Students apply for funding requirements, the amount they wish to borrow and the percentage of their future income they agree to share with potential investors.
- Investors provide funding: Investors review the student profiles and fund their education based on their chosen investment percentage.
- Students repay the investors: After graduation, students begin repaying their share of income for a defined period, depending on the agreed terms.
Benefits of StepEx
StepEx offers unique benefits that cater to the needs of all parties involved, making it a sought-after platform for education funding.
- For students, it offers an affordable and flexible approach to financing their education. The share in future income eliminates the burden of student loans’ high-interest rates, providing adequate living expenses and a higher education standard.
- For investors, StepEx offers a new asset class that is non-correlated, providing exposure to the labour market, and reducing the potential impact of macro shocks on capital markets.
- For corporates, StepEx provides a solution to attract the brightest talent for relevant sectors by sponsoring education in exchange for future income. It provides an impact (ESG) investment that ensures diversity, equity and inclusion practices that align with the company’s values.
StepEx is redefining education funding and opening doors of opportunity for many individuals who may not have had the chance otherwise. By providing an innovative and affordable approach to financing education, StepEx is transforming the higher education landscape, providing a practical solution to the crippling student debt crisis.
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