The Skills Funding Agency has published the results of its third-quarter performance review, confirming that it has funded in full all apprenticeship requests. The agency pointed out in its statement that the outcome showed its commitment to serving the best interests of learners and employers and helping the UK government achieve its goals for further education and skills.
The third-quarter review showed that all funding requests for 16-18 Apprenticeships were granted, as were those for 19+ Apprenticeships where employers had met in full their funding obligations. For apprentices aged between 19 and 24, the government covers half of the training costs and employers are expected to contribute the rest.
The Skills Funding Agency announced that it would provide an additional £12 million in the 2012/2013 contract year in support of adult apprenticeships. The extra amount allocated for 16-18 apprenticeships stands at £6.4 million. These increases will be consolidated in the Maximum Contract Values (MCVs) for the next contract year. The agency also confirmed that providers’ contract values support funding for English and maths qualifications for every learner currently participating in an apprenticeship programme.
Aside from the aforementioned additional funds, the agency will distribute £7.7 million among providers with a track record of helping unemployed young people secure jobs. This allocation will not be consolidated into MCVs for the 2013/2014 contract year.
As of this August, the Skills Funding Agency will no longer contribute to the training costs of 24+ apprentices enrolled in advanced or higher apprenticeship programmes. It will be up to employers and trainees to cover the costs, with expectations that each party will contribute a portion of the necessary amount.