I opted for the lump sum repayment upon securing a job. Why does my StepEx contract states the 24 month amount?

StepEx's products requires you to make 24 monthly repayments when you earn at least the minimum income threshold. If you earn below the minimum income threshold, you can provide evidence of this to StepEx and then you will not be required to make repayments, although you can choose to if you wish.

If you want to repay your fees quicker, you will repay less if you repay within the twelve months after earning above the Minimum Income Threshold. If you pay within 12 months of earning above the Minimum Income Threshold, you will receive a discount on the total repayment amount. If you pay within 3 months of earning above the Minimum Income Threshold you will receive an additional discount. The discounted amount can be viewed in the “waivers” section of your contract (or will be confirmed in writing over email).

Despite these discounts for quicker repayment, your contract will be scheduled for a 24 month repayment period. To take advantage of the discount for quicker repayment you will need to contact StepEx directly and notify them that you would like to repay early.