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Higher Apprenticeship - Different Funding Sources

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Higher Apprenticeship Construction Operations Management FUNDING GUIDE

There are 4 main sources of funding for this qualification, adding up to a very advantageous financial situation if a combination of funding streams can be used.

The main streams are:

CITB

National Apprenticeship Service

Student Loans and Grants from Student Finance England South Devon College

A The CITB

The route to this funding through the CITB is via the Achievement Grant and the Attendance Grant.

1 Technical and Professional Achievement Grant (A25)

You can claim for your construction employees, who achieve an approved technical and professional qualification in a construction-related subject.

The grant is £400 for each achievement.

Grant is available for approved technical and professional qualifications, such as:

a foundation or first degree

a second degree (only if the first degree is not construction-related) 2 Technical and Professional Attendance Grant (A09)

You can claim for your construction employees, who attend approved technical and professional training in construction-related subjects.

There are two rates of grant:

£30 per day for short term courses of less than one year

£50 per day for long term courses of one year or more. This rate would apply to this Higher Apprenticeship

You can claim up to 35 days per person each Grants Scheme year. The Higher Apprenticeship would be eligible for a 35 day claim.

Therefore, assuming you are eligible to claim, you could claim £1750 per year for the Attendance Grant, and £400 Achievement Grant at the end of the course.

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B National Apprenticeship Service

The AGE 16 to 24 Grant for Employers aims to support businesses, who would not otherwise be in a position to do so, to recruit individuals aged 16 to 24 into employment though the Apprenticeship programme.

The National Apprenticeship Service will provide AGE 16 to 24 to eligible employers, in respect of qualifying apprentices, with an individual value of

£1,500. Employers can be paid ten grants in total during the lifetime of the initiative.

AGE 16 to 24 targets employers with less than 1000 employees, who are new to Apprenticeships or haven’t enrolled a new recruit or existing employee onto an Apprenticeship programme in the previous12 months.

South Devon College can help with the application for the Grant and has already helped over 160 employers to do so.

C Student Loans and Grants

There are three main sources of funding through Student Finance England, plus some additional grants for those with specific needs. All are paid directly to the student.

Please note that for the purposes of funding, apprentices on the Higher

Apprenticeship Construction Operations Management are defined as Full Time.

1 Tuition Fee Loan What's it for?

Covers the cost of tuition fees for your course.

How much?

Up to £9000 per year but South Devon College charges only £4500 per year for 2013-14.

Is it repaid?

Yes, but not until the student has left college and his/her income is over

£21,000 a year.

How's it paid?

Once attendance has been confirmed, Student Funding England will pay the Tuition Fee Loan direct to the College, in three instalments across the academic year.

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2 Maintenance Loan What's it for?

Helps with living costs throughout the year. The figures shown below are totals for each academic year, so if the student is able to get a £4,375 loan because he or she is living with their parents, this is roughly the amount they can expect to get each year from SFE unless circumstances change.

How much?

Any full-time student under the age of 60 at the start of their course and eligible for student finance can get a Maintenance Loan. The amount received depends on household income. The table below shows the maximum amounts for this year. If the student receives a Maintenance Grant, Student Finance England will reduce the amount of Maintenance Loan available to him/her.

Living with parents Up to £4,375

Studying outside London and not living with parents Up to £5,500 Is it repayable?

Yes, but not until the student has left College and his/her income is over

£21,000 a year

How is it paid?

This money is paid directly into the student’s UK bank account along with any Maintenance Grant in three instalments. This is normally at the start of each term in September/October, January and April.

3 Maintenance Grant What's it for?

Helps with living costs throughout the academic year.

How much?

Up to £3,354 depending on household income. The table below is a rough guide to the allowances at different levels of household income. Note that the household income excludes the student’s income.

Student – household income (excluding student income)

Grant for courses from September 2013

£25,000 or less £3,354

£30,000 £2,416

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Student – household income (excluding student income)

Grant for courses from September 2013

£35,000 £1,478

£40,000 £540

£42,600 (2012) or

£42,611 (2013) £50

Over £42,600 / £42,611 No grant

The amount of Maintenance Grant the student receives will affect the amount of Maintenance Loan he/she can borrow. SFE will reduce the amount of Maintenance Loan £0.50 for every £1 of Maintenance Grant to which the student is entitled.

Is it repayable?

No, unless the student leaves the course early.

How is it paid?

Direct to the student three times a year.

4 Special Support Grants and additional grants

Students may be eligible for a Special Support Grant instead of a Maintenance Grant if they get or qualify for Income Support or Housing Benefit. The amount they get is the same as the Maintenance Grant, but it won’t reduce the

Maintenance Loan they can get.

They may get the Special Support Grant if, for example, they are a lone parent or have certain disabilities.

There are also additional grants:

Childcare Grant

Parents Learning Allowance Adult Dependants’ Allowance

Grants for students with disabilities, mental-health conditions or specific learning difficulties

For more guidance on funding, visit the Student loans site:

http://www.thestudentroom.co.uk/content.php?r=399-finance. Make sure you click on Full Time students

Means testing of household income depends on whether you are defined as an independent student or still dependent on your parents. Information and an online Student Finance calculator can be found online at: www.gov.uk/student-

finance/loans-and-grants

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D South Devon College

South Devon College offers all its full time University students a Bursary totalling

£400 pa. There is no application procedure as all the students are eligible.

The initial £200 must be spent on a choice from a prescribed list of

academic expenditure specified by the course leader, including trips, visits, PPE, textbooks etc.

The second £200 is dependent on meeting the attendance requirement and provided all assessment work due has been submitted.

CONCLUSIONS

This Higher Apprenticeship, because of its unique funding opportunities, proves very advantageous for employers and students financially.

For large companies (over 1000 employees), the finance of the course can work out as follows (assuming access to the CITB grants). Note that students on this course are defined as Full Time.

Tuition Costs: £4500 per year, paid to South Devon College Funding available:

First Year: CITB £1750 Attendance Grant

SFE Maintenance grant for student (if student’s household income – excluding the student’s – is less than £25,000): £3354. Note that this is paid direct to the student. See the sliding scale above for household incomes above £25,000.

SDC bursary (some of this is earmarked for specific academic purposes): £400 Total funding available for first year: £5504 per year

Net gain: £1004

Note: for the 2nd year, the funding amount will be the same, as although there will be no SDC bursary, there will be the CITB Achievement grant. Both are

£400.

SMEs who have not taken on an apprentice in the last year and where the apprentice is under 25, may be eligible for an additional £1500 one off payment (until December 2014)

References

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