Making professional pilot careers possible
Skybound provides funding for modular and integrated flight training through an income-based financing model.
With traditional loans often out of reach and airline-sponsored opportunities limited, many capable candidates are held back by cost alone. Skybound exists to remove that barrier — enabling access to advanced pilot training based on potential, not personal finances.
Key Features of the Future Earnings Agreements (FEAs)
Future Earnings Agreement: With this agreement, you commit to repaying a fixed percentage of your post-course earnings, but only when your gross annual income is at least £30,000. Your total repayment amount is directly linked to your future income, requiring you to pay less than the average earner if your earnings are
lower and more if they are higher. Rest assured, there is a cap on the maximum amount you could ever repay.
How to apply for the FEA
1. Apply for your course.
2. Once accepted apply at StepEx Application Portal.
3. Complete the Identity Verification and provide Open Banking Access.
4. If approved, complete the arrangement fee payment.
5. Read the terms of your financing and sign your financing contract with StepEx.
6. Start your course.
Details of the Student Offer
Repayments are set to start once you graduate and start earning at least £30,000. You will then repay a small percentage of your income for a fixed period of time. Depending on your post-course earnings you might repay £0 if your gross annual earnings are below £30,000, or you might repay more than the amount borrowed if you earn more in your career after the course. The maximum amount you might ever repay is limited to twice the amount borrowed.
Student Offer (£40,000 funding amount):
£250 upfront + 15% of your gross annual earnings for the first 60 months in which your gross earnings are the equivalent of at least £30,000 per annum. The maximum amount payable is capped at twice the amount borrowed and the maximum term of the contract is 120 months.
Eligibility Criteria
Eligibility for StepEx financing is defined by both StepEx and the education provider.
To be eligible for finance you must:
• Be aged over 18
• Have been offered a place on your course
• Not be on any sanctions or watchlists
• Be likely to be able to afford repayments
• Not have a history of non-repayment of your financial obligations
• Be suitable for this type of product
In addition, your education provider has imposed the following eligibility criteria for course places that can be financed with this agreement.
Charges
With the Future Earnings Agreement, your repayment period is postponed until you start earning at least £30,000.
However, there are a number of administration charges that you must pay from your own resources to benefit from the features of the Future Earnings Agreements, and some charges that are consequent on your choices or behaviour:
- Application fee of £20
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Origination fee of £250 for processing your application
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Monthly platform fee of £1
- Default charge
If you fail to make the required payments for 90 days we reserve the right to terminate your agreement in which case all outstanding repayments become due. We then reserve the right to pass the debt to a debt collection service that may charge you for their costs of collecting the debt from you.
Conditions
The full terms and conditions of the financing agreement are set out in your credit agreement.
