Transcript Generic Loans Presentation

Introduction to 24+ Advanced
Learning Loans
Louise Clatworthy
Head of Relationship Team
Why are we doing this?
• Announced in Skills Investment Strategy 2010-11 and restated in New
Challenges, New Chances, December 2011.
• Ensuring that the remaining Government investment is targeted, such
that economic impact is maximised.
• The approach is in line with the principles of fairness and greater
responsibility, public grant funding support will be prioritised on
younger learners and those with lower skills.
• 25% reduction in the FE and Skills budget between 2011/12 and
2014/15
What is a Loan for?
• 24+ Advanced Learning Loans will be introduced from the 2013/14
academic year.
• The agreed 24+ Advanced Learning Loans budget will be:
– £129 million in the 2013-14 financial year and;
– £398 million in the 2014-15 financial year
• 24+ Advanced Learning Loans will provide support for those aged 24
and over to access advanced (Level 3) and higher (Level 4) and above
Further Education courses and Apprenticeships including:
– Qualifications and Apprenticeship frameworks at Level 3 or above
and equivalent to or larger than a QCF Certificate.
– A-levels.
– Access to HE courses.
• Repayment will begin the April after the individual has left the course
and are earning over £21,000.
Who is involved?
High-level process
IAG and Promotion
NCS, Learner, Provider
- What course?
- What costs?
- Is a loan required?
Application
Learner
- Y1 Paper-based
- Y2 Online
Assessment and
Approval
Student Loans Company
- Eligibility (Personal,
Provider, Qualification)
- Passport / ID Check
Payment
Student Loans Company
- Attendance confirmation
- Payment to Provider
Repayment
HMRC and Employer
- Through payroll
How will this work?
• Approved providers – The Register of Training Organisations
• Notional Allocations issued by Agency outside of ASB
• Active Attendance confirmations quarterly and changes monthly
• Payments based on attendance information paid monthly from Student
Loans Company to the provider.
• Agency monitoring uptake of Loans and budget availability across
provider base and taking action where appropriate
• Agency manages performance in line with single contact
Loans cohort as a
proportion of the total
Adult Skills Budget (ASB)
National Analysis
 Early analysis of the first 6 months of 2011/12
data shows this increases to 11%.
South West Area Analysis
Loans cohort as a
proportion of the total
Adult Skills Budget (ASB)
National Analysis
 Early analysis of the first 6 months of 2011/12
data shows this increases to 8%.
South West Area Analysis
Loans cohort as a
proportion of the total
Adult Skills Budget (ASB)
National Analysis
 Early analysis of the first 6 months of 2011/12
data shows little change in this percentage.
South West Area Analysis
Loans cohort activity
funding by qualification
type
National Analysis
South West Area Analysis
Loans cohort activity
funding by qualification
type
National Analysis
South West Area Analysis
Loans cohort activity
funding by qualification
type
National Analysis
South West Area Analysis
Have you thought about?
• Mapping current provision offer to assess the impact of 24+ Advanced
Learning Loans in 13/14 compared to your current delivery and funding
levels for the relevant cohort of learners?
• Considering how to ensure that attracting loans income is integral to
your future plan?
Further information
• If you have any queries regarding the policy please email:
[email protected]
• Policy context and frequently asked questions can be found in the guide
to 24+ Advanced Learning Loans for colleges and training organisations
(as Apprenticeship providers) which is available on the Agency’s
website.
www.skillsfundingagency.bis.gov.uk
Any Questions?