Funding

FUNDING FOR 2017

For details of grants and funding support available, please contact the College Bursar, Tim Martin, via Reception (0208 522 1705) or e-mail:  Tim.Martin@thebcc.ac.uk

16-19 FINANCIAL SUPPORT FOR LEARNERS

Schools, colleges and training providers have funds to help you if you’re studying or starting a course and think you might struggle with the costs for your studies. For advice speak to Administration or your tutor.

16-19 Bursary Fund

If you’re aged between 16 and 19 years and think you might struggle with the costs for education or training you may be eligible for a bursary.

Mandatory Bursaries

We are required by the Education Funding Agency (EFA) to help learners in the following categories only. Learners in these groups may receive a bursary of up to £1,200 a year:

  • young people in care
  • care leavers
  • young people claiming income support in their own name
  • disabled young people who receive both Employment Support Allowance and Disability Living Allowance in their own name

If you are in one of the above groups and your course is shorter than 30 weeks, or you are studying part-time, you may receive less than £1,200.

Other Learners

The College may also help learners who are not in the above categories, but are facing genuine financial difficulty. Other learners may be awarded a bursary at the discretion of the College and within the available funds.

Schools, colleges and training providers are responsible for awarding bursaries to students. With the exception of the £1,200 bursaries for students most in need, the College will decide on the amount. The College will also decide when bursaries are paid, and will set conditions that students should meet to receive a bursary, for example, linked to behaviour or attendance.

How to apply for a bursary

Speak to the College about eligibility for a bursary and the applications process. If you’re in one of the groups above, we may ask you to provide evidence of your status. If you’re not in one of the groups above and are applying for a discretionary bursary, we may ask you to provide evidence of household income.

Please note that not all applicants will be eligible. In some cases even if you do fit the criteria for the 16-19 Bursary, funds are limited and are subject to availability. The College cannot guarantee that all applicants will receive an award (except those who fit into the ‘Mandatory Bursary’ category)

For more information or to for an application form please contact Carly King in Administration, carly.king@thebcc.ac.uk.

18+ PROFESSIONAL AND CAREER DEVELOPMENT LOANS

A Professional and Career Development Loan could help you pay for learning that enhances your job skills or career prospects. The loan can be used to help fund full-time, part-time or distance learning courses of up to two years or up to three years if the course includes one year’s relevant practical work experience. As long as the course leads to employment or enhances job skills, the loans can be used to help with the cost of a whole range of courses. It’s a bank loan, so you’ll have to pay it back once you’ve left your course. However, you don’t pay interest for the period when you’re in learning. Do not assume approval as loans are based on an individual bank’s credit approval system as for any bank loan.

Individuals can apply for between £300 and £10,000 to support the cost of their course fees, or other course costs including books, childcare and travel and even living expenses such as rent or food.

Who is eligible?

  • You must be aged 18 years or over at the point of application
  • You must be ‘settled’ in the UK and been ordinarily resident in the UK for at least the three years prior to the start of your learning programme
  • You must be intending to work in the UK, the EU or the EEA (European Economic Area) when the course finishes.

How does it work?

You make an agreement with a participating bank to borrow an amount between £300 and £10,000. Then, once you’ve stopped studying, you pay it back in the normal way. Barclays, HSBC and the Cooperative are among those participating banks.

The difference with a Professional and Career Development Loan is that the Education Funding Agency (EFA) pays the interest on the loan while you’re studying – and for one month afterwards. After this, you’ll pay interest at the rate fixed when you took out the loan. Interest rates on the loans are set so they’re competitive with other ‘unsecured’ personal loans that are commercially available. Currently, banks offer Professional and Career Development Loans at a reduced customer rate of 9.9% per annum, equivalent to a typical APR of 5-6% over the lifetime of the loan. However, interest rates may vary from bank to bank. For further information, consult the participating banks.

The Building Crafts College is a registered training provider with the Career Development Loan authority and our reference no. is 1253, but please note that as this is a personal financial arrangement College staff are not permitted to assist in the completion of the application form. Individuals can order an application pack and receive further information / advice by calling the helpline on 0800 585 505 or visiting www.direct.gov.uk/pcdl.

Don’t forget that a Professional and Career Development Loan is not ‘free money’. It isn’t suitable for everyone and other types of financial help are available. See the section ‘Help with learning costs: an introduction’ or the ‘Financial help for adults in learning or training’ booklet on the direct.gov website.

19+ DISCRETIONARY LEARNER SUPPORT FUND (DLSF)

If you are aged 19 or over and having trouble meeting the costs of participating in further education at college, Discretionary Learner Support might be one source of help.

What can you use Discretionary Learner Support for?

Discretionary Learner Support is available in colleges and sixth form colleges to help with learning costs if you are aged 19 or over.

The funds are prioritised for those who face financial hardship. They can be used to help with:

  • financial hardship and emergencies
  • childcare costs (for Ofsted-registered childcare)
  • accommodation costs, for those who wish to access specialist courses or who are unable to access courses locally
  • essential course-related equipment, materials and field trips
  • travel costs

The College will take into account whether there are alternative sources of help available. Please visit www.direct.gov.uk for more information.

Who is eligible?

  • You must be 19 or over
  • You must have been accepted onto and be studying a programme of learning funded by the Education Funding Agency

Colleges determine priority groups and maximum amounts they award. The focus of funds are for financially disadvantaged people aged 19 or over, who need support in areas such as childcare, transport, books and equipment.

Please note that not all applicants will be eligible, and in some cases even if you do fit the criteria for DLSF, funds are limited and are subject to availability. The College cannot guarantee that all applicants will be awarded funds.

You are not eligible if you are

  • under 19 (though you can apply for a bursary from the College)
  • receiving full public funding for higher education
  • on a waged apprenticeship training scheme
  • on a Community Learning course
  • receiving support from the 16-19 Bursary Fund

How much funding will you receive?

Colleges and providers set their own criteria and manage their own procedures. This means that the amounts available, and the way funds are allocated, may differ between institutions. Some funds, including childcare and residential funds, have maximum amounts available.