16-19 Bursary fund and Introduction of 24+ Loans

16-19 Bursary Fund

Below are the most frequent questions that we are asked. Please click on the question below to expand the answers. If you are still unsure or you have a question not answered below please give us a call on 01484 429 359 and we will be happy to help.

A bursary of £1,200 a year for young people in the following defined vulnerable groups: in care, care leavers, young people in receipt of income support and disabled young people in receipt of Employment Support Allowance who are also in receipt of Disability Living Allowance. Bursary awards should be targeted towards those young people who face the greatest financial barriers to participation; such as the costs of transport, meals, books and equipment.

Those who have been identified as most in need will be eligible for a bursary of £1,200. For all others, schools, colleges and training providers will decide who most need funds to stay on in education or training and how much they will get. This will depend on their individual circumstances so some young people may get help with the cost of course related equipment and others may get help with travel costs.

Eligibility

Click on the question below to expand the answer.

To be eligible to receive a 16-19 Bursary in the 2012/13 academic year, the young person must be aged under 19 at the start of the academic year in which they start their programme of study (the start of the 2012/13 academic year is 31 August 2012). Where a young person turns 19 during their programme of study, they can continue to be supported to the end of the academic year in which they turn 19, or to the end of the programme of study, whichever is sooner.

Students aged 19 and over may be eligible to apply for support from the adult discretionary learner support funds operated by the Department for Business, Innovation and Skills: http://skillsfundingagency.bis.gov.uk/providers/programmes/ls/

The money is for the books, meals, transport or other course-related costs needed to help a young person stay in education. Schools, colleges and training providers may choose to pay this as a cash payment or provide ‘in kind’ support, for example, by bulk purchasing equipment that students need for particular courses.

The young person applies directly to their school, college or training provider for a bursary. The young person will be expected to meet certain conditions, for example, linked to behaviour or attendance. In most cases they decide on the amount and when it is paid. You will need to complete a short application form detailing why you require support and how it will enable you to continue in training. You must also give specific details on what you intend to spend the money on. The application will then be submitted to the admin team and a decision on whether to approve the application will be made. The young person and their tutor will then be notified of the decision. Regular or one off payments can be authorised. Please be aware that the budget we have been allocated for Bursary payments is limited and payments will only be authorised to those with the greatest needs. Payments will be either be made via BACS (learners will need their own bank account) or issued in shopping vouchers.

No, once they have applied, the assessment will last the duration of the learning programme.

If their circumstances change the young person can reapply at any time. Our aim is to ensure we support learners and remove financial barriers where we can.

Further Information

Further information on the 16-19 Bursary Fund will be available on:

 

24+ loans

From August 2013, the government is introducing a policy whereby people pay for their courses and qualifications up front, with the option of taking out a loan if they need to and paying the money back at a later date.  Please refer to the loans fact sheet (attached below) for full details.

This new system of funding and paying for learning applies to those aged 24 and above and who meet the eligibility criteria below.

Eligibility

Individuals will be eligible for a 24+ loan if they:

  • Are resident in the UK
  • Are aged 24 and above at the start of their course (Note: there is no upper age limit)
  • Have not previously had a loan to do the same qualification type and level of qualification
  • Are undertaking an eligible course at an approved college or training organisation in England

 

Loans will not be means-tested or subject to credit checks and any individual who meets the criteria above will be able to apply for a loan irrespective of their current employment status.

If you are thinking of studying at Level 3 or above then these changes may apply to you. A loan is designed to give access to financial support for tuition costs. If you choose to take out a loan you will not have to pay for the course or qualification in advance.  The loan will (only) be repayable once you have completed the course and are earning more than £21,000 a year.

Woodspeen offers a range of courses that meet the loan criteria.  Woodspeen offers a range of courses including diplomas, Advanced and Higher Apprenticeships. For further information on our courses please search the website or contact our team on 01484 429359

PLEASE NOTE: Woodspeen is not regulated by the Financial Conduct Authority (FCA) and does not offer any guidance, advice or recommendations as to the suitability of the 24+ Advanced Learning Loans in relation to an individual. It is important therefore that individuals take into account their own circumstances and take appropriate advice from authorised organisations.