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Introduction to 24+ Advanced Learning Loans Louise Clatworthy Head of Relationship Team

Introduction to 24+ Advanced Learning Loans Louise Clatworthy Head of Relationship Team. 01. Why are we doing this?. Announced in Skills Investment Strategy 2010-11 and restated in New Challenges, New Chances, December 2011.

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Introduction to 24+ Advanced Learning Loans Louise Clatworthy Head of Relationship Team

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  1. Introduction to 24+ Advanced Learning Loans Louise Clatworthy Head of Relationship Team 01

  2. 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

  3. 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. What is a Loan for?

  4. Who is involved?

  5. High-level process

  6. 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

  7. National Analysis South West Area Analysis Loans cohort as a proportion of the total Adult Skills Budget (ASB) • Early analysis of the first 6 months of 2011/12 data shows this increases to 11%.

  8. National Analysis South West Area Analysis Loans cohort as a proportion of the total Adult Skills Budget (ASB) • Early analysis of the first 6 months of 2011/12 data shows this increases to 8%.

  9. National Analysis South West Area Analysis Loans cohort as a proportion of the total Adult Skills Budget (ASB) • Early analysis of the first 6 months of 2011/12 data shows little change in this percentage.

  10. National Analysis Loans cohort activity funding by qualification type South West Area Analysis

  11. National Analysis Loans cohort activity funding by qualification type South West Area Analysis

  12. National Analysis Loans cohort activity funding by qualification type South West Area Analysis

  13. 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?

  14. Further information • If you have any queries regarding the policy please email: • advancedlearningloans@skillsfundingagency.bis.gov.uk • 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

  15. Any Questions?

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