This article gives an insight into the various types of funding both grants and loans which is provided to the student in the UK to enhance their future. The adult education funding is the project that deals with funds that have been delivered towards the education and training for learners aged 19+ as support from the government.
Some of the needed qualification through adult education funding includes basic English and math skills. The education funding is mainly provided to the learners who are really interested in building up their career with the help of studies.
The responsibility for adult education funding is carried out by the mayor of London from the government in 2019/2020, subject to meeting the readiness conditions that are set by the Secretary of State for Education.
Adult education funding for UK & EU Students
Adult education funding completely targets upon the UK and EU students. Some of the projects will be funded through the European Social Fund (ESF). These projects will help the unemployed people and low paid workers to gain skills through higher education courses that can help them in finding a job and enhance their future.
These projects also help to build the small business to get upgraded in their workforces. All UK and EU educational Funding projects focus on helping people who are really interested in having a better future by obtaining skills through education. These people are allowed to work with the communities, charities, businesses and educators to get their support and step up in their life.
Eligibility criteria for Adult Education Funding
As per the Education and Skills Funding Agency (ESFA) announcement in 2018/2019, the adult education funding budget providers will be able to learn the skills with full funding. The new rule of ESFA will run for a trial period of 1 year.
As per this ESFA new rule, to receive full funding during the trial period, the adults and younger London citizens must earn less than approx. £15,736.00 as annual gross salary (based on the Social Mobility Commission’s low-pay threshold of £8.07 and on the assumption of 37.5 hrs contract including leave), or those who are from the labour market, who faces in-work poverty and who are unable to contribute towards the cost of co-funding fees. The funding is served as on the first come first served basis. The individual needs to check with the complete eligibility criteria with the college to proceed further.
Below are the learner categories that are eligible for different qualification:
- 19-23, Entitlement Funding: Entries to Level 2 and 3 qualifications only
- 19+, Local Flexibility Funding: Level 2, qualifications, units and non-regulated learning
- English and Maths Entitlement Funding: Entry to Level 2, GCSE’s and Functional skills qualifications, other English and Maths qualifications and units.
- ESOL Funding: Level 2, qualifications and units
Even advanced learner loan funding is also available that can provide entry to Level 3 to 6, qualification only.
Other Main Funding bodies Other than Adult Education Funding
Apart from this Adult Education Funding, there are other two main funding bodies that help England youngsters with free education. They are
- Education Funding Agency (EFA)
- Skills Funding Agency (SFA)
Education Funding Agency (EFA)
The Education Funding Agency (EFA) funds the learners between the age of 16 and 19. These youngsters with Education Health and Care plan (EHC), the funding is provided through both EFA and the local authority. In this case, the funding can extend up to the age of 25.
Skills Funding Agency (SFA)
The Skills Funding Agency (SFA) funds the colleges and training providers towards further education to the adult learners aged 19 and over. This SFA funding includes the adults under the age of 25 without EHC plan, who are suffering from a disability or self-declares to have a learning difficulty, and even for the people over 25 who needs to be identified as support needier.
It is the responsibility of the colleges and training providers to have a follow up with the funding guidelines of these agencies and also make sure that they are meeting the needs of the disabled learners. In certain areas, there are proposals for the Adult Education Budget, which does include SFA funding, that is been gradually transferred to the local government areas through devolution agreements.
As per the England government rules you can receive free education up to the age of 19. After that, you have to take over the responsibility of funding your education. But, if the person is having an EHC plan, the full funding can be extended up to the age of 25. This completely depends on whether the course meets the aims in your plan or not. If in case you start another course, the funding will be depending upon your next level of progress and achievements. Moreover, the funding amount is going to be the same as per the other level.
Adult Education Funding through Student Loan Company
Another way of Adult Education Funding is through the Student Loan Company (SLC) which was established in 1989 to provide loans and grants to the students studying in the UK. From the year 1990 to 1998, they have followed a mortgage-style of loaning system aim to help the students with the cost of living and repaid directly to the SLC. From 1998, SLC has introduced tuition fees in the UK and began to provide a loan under an income-contingent repayment (ICR) scheme. From the year 2006, the loan has included the cost of tuition fee in addition to the living cost. These loans are later collected as repayment via the PAYE tax system. This ICR loan scheme was later replaced with a new ICR scheme in the year 2012 that includes a longer repayment period following an increase in tuition fees.
Student Loan Company (SLC) is a public company (non-departmental) in the UK that deals with the concept of providing a loan to the needy students. This company is owned by UK Government’s department for education (85%), the Scottish Government (5%), the Welsh Government (5%), and the Northern Ireland Executive (5%). The SLC is fully funded by the UK government and the devolved administration. SLC is responsible for both providing loans to students and collecting loan repayments alongside HM Revenue and Customs (HMRC).
SLC is working in a partnership with UCAS, The NHS Business Services Authority (NHSBSA) and the National Association of Student Money Matters (NASMA) that can host online events which includes a series of live queries with the answers on Student Finance England’s Facebook & Twitter Channels. The main aim of SLC is to help the student to face the financial journey as a student from application through to repayment. There will be tips on budgeting and what to expect from student life, as well as information on how to make the help available from different sources.
With this above information, now you can get an idea about the funding system that is followed at the UK.