Innovative education finance enabler predictive algorithm and automation

该项目将创建技术基础设施，以实现首个受监管的、基于结果的消费金融的规模提供，并通过这样做扩大英国专业资格的参与度。FCA已授予StepEx独特的授权，允许发行和管理未来收益协议-“FEA”。该项目将为该产品成功和合规地投放市场提供必要的基础设施。这一提议的好处是，它将为目前被排除在外的最有能力的学生提供融资--那些不是父母银行受益者的学生。目前提供的10,906 GB的政府学生贷款不足以支付顶级研究生学位的费用(例如，伦敦商学院MBA学位的费用为87,600 GB)，也没有资格获得技术资格(例如，为训练营编码GB 9,600的制造商)。在英国，75%可以从这些资格中受益的人(30岁以下的人)被排除在外，因为他们无法获得超过6000 GB的资金。提供这些资格证书的机构传统上依赖国际学生来满足需求，但COVID19阻止了相当一部分潜在的外国学生。债务培训提供商无法为这个市场提供有效的解决方案，因为他们在法律和商业上都有义务根据申请人过去的收入和支出来评估申请者，这并没有考虑到他们毕业后工资前景的大幅改善。其结果是许多申请者被排除在外，负担不起的还款导致少数接受贷款的人的高违约率。StepEx将使大学和技术提供商能够向学生提供用其未来毕业生收入的一部分支付课程的能力，而不仅仅是预付费用，例如工程硕士预付费用30,000 GB，或未来收入超过25,000 GB时5年内的7%。类似于学生在规定的年数内在未来收入中给予大学“汗水公平”。这将使多达1000万失业或在很大程度上因COVID19而面临工作风险的英国居民获得租用后COVID19后变化很大的劳动力所需的技能。该项目将为启动提供必要的基础设施，包括办公设施、关键运营人员、技术再GDPR/收集、营销和税收/法律咨询。在该项目成功完成后，StepEx将创建所有必要的技术基础设施，以提供教育机构正在寻求的融资解决方案，以扩大对英国每年价值60亿GB的顶级研究生和技术课程的参与。这将帮助英国经济反弹到COVID19之前的水平，帮助1000万失业或面临失业风险的英国居民获得英国企业所需的技能。那些拥有最合格、最灵活和最具创新精神的劳动力的国家，将最快恢复充分就业和国际竞争力。

This project will create the technology infrastructure to enable provision at scale of the first regulated, outcome-based consumer finance, and in doing so widen participation for the UK's professional qualifications. The FCA have granted StepEx unique authorisations that permits the issuance and management of Future Earnings Agreements- "FEAs". This project will fund the necessary infrastructure for the successful and compliant delivery of this product into the market. The benefit of this proposition is it will provide financing for the most able students who are currently excluded -those who are not beneficiaries of "the-Bank-of-Mum-and-Dad".The Government student loans of £10,906 available today do not cover the cost of top post-graduate degrees (e.g. London Business School MBA at £87,600) and are ineligible for technical qualifications (e.g. Makers Coding Bootcamp £9,600). 75% of people in the UK who could benefit from these qualifications (those under 30-years-old) are excluded as they are unable to obtain more than £6,000 of funding. The institutions that provide these qualifications have traditionally relied on international students to fill demand however COVID19 has deterred a significant portion of prospective foreign students.Debt providers are unable to provide an effective solution for this market because they are legally and commercially obliged to assess applicants based on their past income and expenses, which does not consider their greatly improved salary prospects upon graduation. The consequence of this is the exclusion of many applicants, and unaffordable repayments that lead to high default rates for those few that do take loans.StepEx will enable universities and technical providers with to offer students the ability to pay for a course with a share of their future graduate income rather than just an upfront fee for example a Master of Engineering for an upfront fee of £30,000 or 7% of future earnings for 5 years when earnings exceed £25,000\. Akin to students giving the university "sweat equity" in their future income for a defined number of years. This will allow the up to 10m UK residents who are unemployed or whose jobs are at risk largely due to COVID19 to attain the skills required to renter the much changed post-COVID19 workforce.This project will provide the necessary infrastructure for launch, including an office facility, key operations staff, technology re GDPR/collections, marketing and tax/legal advice.Upon successful completion of this project, StepEx will have created all of the necessary technology infrastructure to provide the financing solution being sought by education institutions to widen participation in the £6bn worth of top post-graduate and technical courses in the UK each year. This will assist the UK economy rebound to preCOVID19 levels by helping the 10m UK residents who are unemployed or at risk of unemployment, obtain the skillsets required by UK businesses. Those countries with the most qualified, flexible and innovative workforces will return most quickly to full employment and international competitiveness.