Apprenticeship Funding to See Annual Increase
With the Education Funding Agency (EFA) confirming its commitment to increase the budget for apprenticeships during the current parliament, 3aaa take a look at the impact on apprentices and training providers.
The annual funding letter, released earlier this month stated that the apprenticeship budget for students age 16-18 for the academic year 2016-17 will increase every year until 2020 in order to “fund a sustainable increase in high-quality apprenticeships”. Stewart Segal, Director of Strategy, Policy and Funding at 3aaa said: “The growth commitments for apprenticeships and traineeships for the remainder of this parliament represent very good news for young people who need a greater number of vocational learning opportunities as post-16 options under Raising the Participation Age.”
The EFA also outlined how the Department for Education saw core education grants for 16 to 18-year-olds protected, and the base rate of £4,000 for full time 16 to 17 year olds maintained over the Spending Review period, with that for 18 years old at £3,300. The settlement provides a stable medium term framework for institutions to plan how they will deliver a sustainable high quality offer for students.
Martin Doel, Chief Executive of the Association of Colleges stated: “The organisation was pleased to see that the Department for Education had maintained the level of funding per student.”
This will ensure that 3aaa academies continue to provide high quality training for their apprentices and a stable working life for their staff.
You’ll now find a 3aaa Academy in BEDFORD, BIRMINGHAM, BLACKBURN, BRADFORD, BRIGHTON, BRISTOL, CAMBRIDGE, CHELMSFORD, CROYDON, DERBY, EXETER, GLOUCESTER, GUILDFORD, HULL, LEEDS, LEICESTER, LIVERPOOL, LONDON, MAIDSTONE, MANCHESTER, MIDDLESBROUGH, MILTON KEYNES, NEWCASTLE, NORTHAMPTON, NORWICH, NOTTINGHAM, OXFORD, PETERBOROUGH, READING, ROMFORD, SHEFFIELD, SOUTHAMPTON, STOKE, SWINDON, TAMWORTH, WARWICK, WATFORD, WOLVERHAMPTON, WORCESTER and YORK.
If you are an Employer looking to transform your business, email: EMPLOYNOW@3AAA.CO.UK or a young person looking to take your first steps into an exciting career in IT, Web & Social Media, Digital Marketing, Accountancy, Business Administration or Financial Services, email: APPLYNOW@3AAA.CO.UK.
Alternatively, find out more about our Apprenticeship programmes: 0844 504 3174 or www.3aaa.co.uk.