The Education Funding Agency (EFA) is to replace the current funding formula with a payment per student system in 2013/14.
The reforms, outlined in the ‘16-19 funding formula review’, will affect all EFA funded provision for 16 to 19 year-olds, as well as students aged 24 or below with a learning disability or health and care plan.
Total programme funding will be calculated using student numbers, multiplied by a number of other factors including the national funding rate per student, level of retention and programme cost.
This will fund a programme of study for around 600 guided learning hours for all students”
The simplified formula will replace the existing system entirely, which currently funds each qualification a student is enrolled on individually.
The Agency said they hope to fund all full time programmes at a single funding rate, and remove the need to convert guided learning hours into a standard learner number (SLN).
The report reads: “We are introducing a single basic funding rate per full time student per year regardless of where and what they study. This will fund a programme of study for around 600 guided learning hours for all students.”
Meanwhile Additional Learning Support (ALS) will be calculated on a flat rate, rather a sliding scale, removing the need for a two part calculation.
Other changes include reducing the number of programme cost weightings, removing the achievement element of the success factor, and removing the short course modifier, among others.
“Our ambition is for a simple, transparent and fair funding system for all 16 to 19 year olds and those up to age 24 if they have a Learning Difficulty Assessment, to support full participation,” the EFA said.
Sign-up for a free webinar with Nick Linford (MD at Lsect) to consider the funding proposals. Friday at 11am. Click here to register