Degree Apprenticeship Funding
Degree apprenticeships can be exceptionally good value.
Cost-Effective Learning: Degree apprenticeships offer exceptional value, providing both education and work experience at reduced costs through government funding. While the cost of an apprenticeship will vary, the funding has been designed to make it easy and affordable for employers to utilise.
If you’re an employer with a pay bill over £3 million a year, you will have been paying the Apprenticeship Levy from 6 April 2017 through the PAYE process; it is calculated as 0.5% of total staff cost. If you are a smaller employer you will not pay the Levy but can still access the programme.
The delivery of apprenticeship training is a devolved matter, and England, Wales, Scotland and Northern Ireland have developed different ways for employers to access programmes. Companies will access the programmes that apply where the employees are based.
Funding depends on where the Apprenticeship is Based
- Access to apprenticeships in Wales is not affected by the size of the company. The Welsh Government funds Degree and Higher Apprenticeships covered by a Framework directly to the contracted training provider.
- Funding is determined by Welsh Government priorities.
- Employers are not required to contribute to the cost of apprenticeship provision.
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- You can put your levy contributions towards the cost of the degree apprenticeship
- The Apprenticeship Levy gives employers in England control of their training, allowing them to agree a total price for each apprenticeship, which includes the costs of training and assessment.
- For each English Apprenticeship Standard, a Funding Band has been set that caps the amount of funding that can be drawn down by the employer.
- Where the ºÚÁϳԹÏÍø cost of delivery is higher than the funding band, the university will agree an additional contribution with the Company to cover the difference, payable in annual instalments.
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- The Government will contribute at least 95% of tuition fees and assessment costs for any apprentice.
- The government requires these employers to make a 5% cash contribution to the cost, paid directly to the provider, and the government covers the rest (up to the maximum agreed funding band).
- In some instances there may be additional top-up fees payable to the university – these will be discussed during initial engagement meetings. Top-ups are payable in annual instalments. ºÚÁϳԹÏÍø will work with these companies to facilitate funding for the apprentice programme.
Is your business "future ready"?
Invest in developing your employees with Industry led Higher and Degree Apprenticeships and transform your business.
We understand the everyday challenges to your business and as a result, we created in partnership with employers an Industry led Apprenticeship Programme, which when combined with daily practical on-the-job experience support students to apply the knowledge gained directly to the workplace.