Funding agency rates untouched but expected drop hits 18-year-olds
The Education Funding Agency is to continue paying providers an unweighted full-time rate of £4,ooo for 16 and 17-year-olds while 18-year-old funding drops to £3,300.
The agency is notifying providers of its funding rates for 2014/15 and has said the full-time, and also part-time, rate for 16 and 17-year-olds will be untouched.
The unweighted full-time rate for 18-year-olds drops 17.5 per cent, as reported in FE Week in December, to £3,300. It will be untouched for the age group’s part-time learners.
The agency also confirmed its allocations, due out by the end of the month, would incorporate a 2 per cent cap limiting the 18-year-old funding rate cut’s effect on provider budgets.