Cultivate your wisdom with an interest-free degree
Named after the ancient Greek philosopher, Xenophon College London (XCL) represents intellectual exploration, critical thinking, and ethical conduct which are all hallmarks of classical Greek philosophy. The name Xenophon, meaning “foreign voice,” reflects the institution’s commitment to fostering a diverse academic community that values a wide range of perspectives and ideas.
Just as Xenophon was a bridge between cultures in his time, XCL aims to build cross-cultural understanding and innovation in the modern world. Its educational approach draws on the rich traditions of classical education while embracing the techniques and challenges of the 21st century.
XCL offers undergraduate and postgraduate courses in business, management, computer science, and psychology to UK and international students, with degrees validated by the University of Chichester. XCL aims to merge education, innovation, and entrepreneurial projects to create an engaging and sustainable learning community. The college offers live distance learning, hybrid or face-to-face options (depending on visa status) from its campus in Wye, Kent.
Consistent with its commitment to access and its belief in the value of the education it provides, XCL has partnered with StepEx to introduce the ”FlexiPay” plan. This offers home and international undergraduates and postgraduates the opportunity to pursue a UK degree while paying for their tuition with a series of monthly instalments, free from any interest charges. XCL takes pride in being the first UK higher education institution to provide this innovative solution to such a wide range of students.
Key Features of the Xenophon FlexiPay Plan
Interest-Free Degree: With FlexiPay you can make timely payments to cover your tuition fees without incurring any interest charges. The total amount you repay is the same as the upfront tuition fee amount (excluding the set-up charge). While administrative fees may be imposed for missed payments, no interest will be added to the outstanding amount.
To cater to diverse needs, XCL has made available four payment plans:
- The Accelerated Plan
- The Standard Plan
- 5-year Deferred Plan
- 10-year Deferred Plan
Repayments commence either from the course start date or three months after graduation, with repayment periods ranging from one year to a maximum of ten years, depending on the payment plan undertaken.
Payment holidays: All of the plans provide the flexibility of a three-month payment holiday, allowing you to temporarily pause your instalment payments during challenging financial periods. Please note that a charge applies for utilising this option.
For more information on Xenophon and the qualification criteria please visit the Xenophon website here.
How to apply for a FlexiPay Plan
Review the course options available at Xenophon and consider the plan type that suits you best.
Assess whether a FlexiPay Plan is right for you. You can calculate the amount you would need to repay each month by dividing your total course fees by the number of months allowed for repayments in your chosen plan type (noting that the minimum repayment amount is £100 per month).
Once you have selected your desired course, apply to XCL for a place. After you receive your offer, proceed to StepEx to determine your eligibility for a FlexiPay loan, which can be applied to your tuition costs.
The application process includes identity verification, employment eligibility, and an assessment of your financial position, including credit history, income, and expenses. Please have your passport and access to your mobile banking application ready when you apply. The cost for these checks is £20, and you will receive a response within a few days, indicating whether you qualify for a FlexiPay loan and the approved amount.
Upon successful application and enrolment at XCL, StepEx will make XCL aware that you have been approved for a StepEx FlexiPay loan and your tuition fees will automatically be reduced by your FlexiPay loan amount.
If you have chosen the Accelerated or Standard plan, you will need to commence monthly payments to StepEx from the start of your course. For Deferred plans, repayments begin three months after graduation.
Embark on your journey to an interest-free degree with XCL. Apply now to secure your place and seize this ground-breaking opportunity.
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Details of the Accelerated Plan
This plan is designed to help those who wish to repay their education costs as quickly as possible without having to make a large payment upfront.
Repayments are set at an equal monthly amount evenly spread over your period of study, starting with a payment in the first month of your course, with a total value equal to the tuition fee charge plus the setup costs and platform fee, with no interest added.
So, a one-year course could be paid for with 12 equal monthly instalments, while a three-year course would be paid over thirty-six (36) monthly instalments.
For example, a 1-year postgraduate course delivered through Distance Learning (remote) which ordinarily costs £9,000 upfront could instead be paid for with an application fee of £20, a set-up fee of £200 and then 12 monthly payments of £750, for a total of £9,220.
Details of the Standard Plan
This plan spreads the repayment schedule over a longer period, making monthly payments more manageable. The repayment period is a maximum of double the length of study. So, you would have two years (24 months) to pay for a 1-year postgraduate course, or 6 years (72 months) to pay for a 3 year undergraduate course.
Some examples are shown in the table below:
| Amount of voucher | Course length | Monthly Repayments | Term (length of payment obligation) | Total repayments (excludes £220 setup fee) |
|---|---|---|---|---|
| £9,000 | 1 year | £375 | 2 years | £9,000 |
| £13,500 | 1 year | £563 | 2 years | £13,500 |
| £18,000 | 1 year | £750 | 2 years | £18,000 |
| £24,000 | 3 years | £333 | 6 years | £24,000 |
| £39,500 | 4 years | £411 | 8 years | £39,500 |
| £55,000 | 4 years | £573 | 8 years | £55,000 |
Details of the 5-Year Deferred Plan
Exclusively available in the UK and the EU, and for postgraduate students only, the 5-Year Deferred Plan defers all repayments until three months after graduation. After this period, your course fee amount is split into equal monthly payments for the subsequent 5 years.
Deferred – 5 year Plan repayment examples:
| Amount of voucher | Course length | Monthly Repayments | Term (length of payment obligation) | Total repayments (excludes £220 setup fee) |
|---|---|---|---|---|
| £9,000 | 1 year | £150 | 5 years | £9,000 |
| £10,500 | 1 year | £175 | 5 years | £10,500 |
| £12,000 | 1 year | £200 | 5 years | £12,000 |
| £13,500 | 1 year | £225 | 5 years | £13,500 |
| £18,000 | 1 year | £300 | 5 years | £18,000 |
Details of the 10-Year Deferred Plan
Exclusively available in the UK and the EU, and for undergraduate students only, the 10-Year Deferred Plan defers all repayments until three months after graduation. After this period, your course fee amount is split into equal monthly payments for the subsequent 10 years.
Deferred – 10 year Plan repayment examples:
| Amount of voucher | Course length | Monthly Repayments | Term (length of payment obligation) | Total repayments (excludes £220 setup fee) |
|---|---|---|---|---|
| £18,000 | 3 years | £150 | 10 years | £18,000 |
| £22,500 | 3 years | £188 | 10 years | £22,500 |
| £24,000 | 4 years | £200 | 10 years | £24,000 |
| £27,000 | 3 years | £225 | 10 years | £27,000 |
| £30,000 | 4 years | £250 | 10 years | £30,000 |
| £31,500 | 3 years | £263 | 10 years | £31,500 |
| £36,000 | 4 years | £300 | 10 years | £36,000 |
| £39,500 | 4 years | £329 | 10 years | £39,500 |
| £45,000 | 3 years | £375 | 10 years | £45,000 |
| £55,000 | 4 years | £458 | 10 years | £55,000 |
Eligibility for each agreement by course and citizenship
Eligibility for each plan is determined by the availability of capital. Unfortunately, this means that some plans are restricted to certain courses and to nationals of certain countries. We are unable to make any exceptions to these rules at this time. However please note that we strive to expand the coverage of these products in future. If the country that you are a national of is not listed, please contact us and we will let you know which products you may be eligible for.
| Domicile/level of degree | Accelerated | Standard | Deferred (5YR) | Deferred (10YR) |
|---|---|---|---|---|
| UK - undergraduate | Yes | Yes | No | Yes |
| UK - postgraduate | Yes | Yes | Yes | No |
| EU - undergraduate | Yes | Yes | No | Yes |
| EU - postgraduate | Yes | Yes | Yes | No |
| Bangladesh – UG/PG | Yes | Yes | No | No |
| Canada – UG/PG | Yes | Yes | No | No |
| India – UG/PG | Yes | Yes | No | No |
| Nepal – UG/PG | Yes | Yes | No | No |
| Pakistan – UG/PG | Yes | Yes | No | No |
| Turkey – UG/PG | Yes | Yes | No | No |
| Nigeria – UG/PG | Yes | No | No | No |
| Somalia – UG/PG | Yes | No | No | No |
Payment Holiday Option
All four plan types offer a “Payment Holiday” option. This means that, if you are having problems making payments on time you can choose to take a three-month payment “holiday”. The consequence is that, for a three-month period, you do not need to make any payments. The term (the length of the repayment obligation) of your agreement is extended by three months and the payments that were skipped becoming due for payment at the end of the original term. For example, if the term was due to end in December the new term would end in March of the following year with payments due in January, February and March.
If you are on the Accelerated or Standard Plan, you are allowed to take one three-month payment holiday. However, if you are on either of the Deferred Plans, you may take up to four three-month holidays, which do not need to be consecutive. Please note that each use of the Payment Holiday option incurs an administration charge, as detailed below.
The Payment Holiday option provides flexibility in the repayment obligation, allowing you to skip payments for a three-month period should circumstances make it impossible for you to stick to the original payment plan. However, please note that each use of the Payment Holiday incurs an administration charge, as outlined below.
Charges
The FlexiPay Plan is interest-free, meaning you will only be required to repay the principal amount borrowed, divided into equal monthly instalments. This means you will not incur any interest charges over the repayment period.
However, there are a number of administration charges that you must pay from your own resources to benefit from the features of the plan, and some charges that are consequent on your choices or behaviour:
Application fee
There is a £20 initial charge for confirming your details such as ID and residency and for assessing your financial capabilities – your present or anticipated future income and your spending commitments. That enables us to determine what level of monthly payments are likely to be affordable for you. If we determine that you qualify for participation in the FlexiPay plan you will then be made an offer for the applicable Voucher amount.
Arrangement fee
There is a £200 fee for processing your full application once your ID and ability to afford repayments have been confirmed. On payment of this fee and delivery of a FlexiPay agreement signed by you.
Please note the Initial Charge and Application fee are necessary for the setup process and do not contribute towards your education costs.
Payment Holiday fee
There is an escalating fee for taking a 3-month payment holiday. The first time you make use of this option there is a £30 charge. Subsequent use of the feature, available only to those on the two Deferred Plan types, cost £60 the second time, £90 the third time and £120 the fourth. These charges, rolled up into a single amount, are payable at the end of the term of the plan. For example, if a plan had an original end date in December and one holiday is taken, the plan extends to March of the following year and the £30 fee would be payable in the April.
Un – open banking fee
For UK and EU students only, if you take out a Deferred Plan and your bank account does not offer “open banking”, where our administrators are able to electronically connect to your bank account, there is a £50 per annum fee payable at the beginning of each year, for the additional cost of administering your scheme.
Default charge
If you fail to make the required payments for 90 days we reserve the right to terminate your FlexiPay 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 a FlexiPay plan are set out in your credit agreement and student agreement with XCL.
One of the conditions that you should be aware of is that XCL reserves the right to not award, or withdraw the grant of your degree if you default on your payment obligation.
The specific terms vary by plan type:
- Accelerated Plan
The full amount of all payments under your FlexiPay plan agreement must have been made for you to graduate.
Standard Plan
75% of the value of the payments under your FlexiPay plan agreement must have been made for you to graduate.
Deferred Plans
You will graduate on completion of your studies as set out in the course details pages. However, should you subsequently default on your payment obligation then XCL reserves the right to withdraw the grant of a degree.
