In a nutshell...
The Shared Income Agreement (SIA) is a tuition finance option offered to CAPSLOCK learners. SIAs are available to UK or Spain residents only.
If you choose to fund your place at CAPSLOCK via a Shared Income Agreement, there are no up-front fees. You join a CAPSLOCK course and pay nothing until after graduation.
Financial concerns and the inability to afford high up-front tuition fees are some of the biggest barriers which prevent people from returning to education and changing their careers. Since we launched, we have deferred over £2.2 million worth of tuition fees with SIAs, allowing our learners to access our career-changing course with ease.
So, for us, using Shared Income Agreements is all about accessibility and making sure that people from all backgrounds and walks of life have the opportunity to reskill, no matter their financial status.
How SIAs work:
With a Shared Income Agreement, you'll pay nothing up-front to join a CAPSLOCK bootcamp. Instead, you'll pay back 12-13% of your gross (pre-tax) monthly income for up to 48 months, but only after you've graduated and landed a role paying £25,000 or more.
You'll make up to 48 monthly instalments (4 years). Once you reach your repayment cap of either £14,400 (if you pay a deposit) or £15,000 (without a deposit), you will stop making payments as the finance agreement will be finished.
Your SIA repayments scale up or down with your wages, so they always stay affordable. If your income drops below £25,000, your repayments will be paused.
A Shared Income Agreement is an FCA-regulated agreement which is provided by our finance provider, Student Finance.