CAPSLOCK: The UK’s Largest Provider of Income Share Agreements

April 7, 2021
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CAPSLOCK Education is now officially the UK’s largest provider of Income Share Agreements (ISAs). ISAs enable learners to enrol for career-changing education programmes with no up-front costs and they only pay tuition once they’re successfully employed.  

Following the start of our Full Time cyber security retraining bootcamp on the 22nd March, CAPSLOCK is now officially the UK’s largest provider of Income Share Agreements (ISAs).

We have partnered with financial services provider StepEx to offer Income Share Agreements to our learners. Of the 11 StepEx partners who use ISAs, CAPSLOCK is officially the largest adopter, responsible for 32% of all ISAs ever provided in the UK.

What is an Income Share Agreement?

An Income Share Agreement is an alternative to traditional student loans or up-front tuition fees. It is a financial agreement between a student and an education or training provider (in this case, CAPSLOCK), which allows the learner to take a course without paying for it up-front. Instead, the learner agrees to share a percentage of their future income for a set period of time once they graduate and land a job.

At CAPSLOCK, rather than paying a tuition fee, you simply pay back 15% of your monthly income for 36 months after the course, but only once you are earning over £27,000 a year. ISAs are not classed as personal debt, they always stay affordable, and re-payments are paused if your income drops below £27,000. ​The total repayment amount is capped at £18,000, so you’ll never pay back more than this, regardless of your salary.

ISAs scale with you, so when you’re earnings are lower, your repayments are lower. They’re always affordable.

Why does CAPSLOCK use ISAs?

We use ISAs so that everyone has the opportunity to get the career-changing education they need, regardless of their financial situation or background.

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. Breaking down the barriers to retraining in cyber is one of CAPSLOCK’s core principals, and ISAs allow us to tackle the financial aspect. They help us to make learning more accessible because they are based on  person’s future earning potential, rather than their current situation.

For our first two cohorts, we have deferred over £700,000 worth of tuition fees with Income Share Agreements, allowing our learners to access our career-changing course with ease.

Matthew, an armed forces veteran and one of our learners said:

“Enrolling with no up-front costs and only paying tuition back when I earn over £27,000, for me, is fantastic. There’s no pressure on me financially, so I can do this course with total focus.”

Do you have more questions about ISAs? Visit

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