Steffen was born in 1996 in Coburg, Germany. He obtained two bachelor’s degrees in Economics and Philosophy from the Albert-Ludwigs-Universität Freiburg. He completed his master's degree in Economics at the Rheinische Friedrich-Wilhelms-Universität Bonn with a special focus on Financial Economics and Macroeconomics. In his master’s thesis, he investigated the effect of capital requirements on credit supply during the COVID-19 pandemic. Throughout his studies, he worked as a teaching assistant in macroeconomics at the Albert-Ludwigs-Universität Freiburg and as a research assistant at the Walter Eucken Institute Freiburg, as well at the Macrofinance & Macrohistory Lab Bonn. Steffen’s research interests are financial stability, monetary policy transmission, and sovereign debt crises.