When it comes to undertaking your Procurement and Supply qualification with SR Supply Chain Consultants, we know that how you fund this can be a key factor when deciding if its right for you. For some, self-funding is the best way forward, so what are your options?
What Funding Options are available?
Many learners explore the usual funding routes available to them such as bursaries – and most of the time, they struggle to secure any cash to support their studies, leaving them feeling disheartened and discouraged to study. However, there are other funding options available to help them out, such as:
- Your Employer
A lot of the time, these organisations do not ‘show off’ that they have funding available for those looking to secure a position on a training course, or a position where access to a training budge as part of the role is available. To find this information, it’s down to the individual to use their initiative and raise the question around funding opportunities.
The amount of funding available/offered to you will vary depending on which organisation you choose to approach. Some of these organisations may part fund / provide a percentage contribution with the individual funding the remainder of the cost.
If it’s your employer that you’re looking to for funding, then we tend to find they cover the full cost of courses as it’s an investment into their staff, which they should also see benefits from as the workforce is upskilling.
However, many organisations will require the learner to sign a Learning Agreement, where the organisation will fund the course but the learner is required to stay at the organisation for the duration of the course, and if you leave the organisation within the study period, the employer will look to seek the funds from you. This is something the learner will have to discuss with their employer, as this is not guaranteed with everybody.
There are 2 main types of charities that are likely to help a learner in their search for securing funds for learning, these are:
- Charities whose work is related to the subject of study or research – This option is difficult to find in the Procurement & Supply Chain sector.
- Charities whose sole effort is to support those who are most disadvantaged – These disadvantages may include areas such as: physical/mental health, health, those who have served in the armed forces, learning difficulties, and more.
It’s down to the individual learner to contact their identified charity to try to secure funding, this can be very difficult though, so potential learners are expected to put in the work to secure funding.
Consider Studying Module by Module
Like many things in life, we want it all now. However, if a learner is struggling to secure the funds for their full course but are desperate to start their studies, we advise that they look to study module by module. This means that they can begin studying, without the need for the full cost of the course, allowing for them to build their funding pot for the next module at the same time.
How We Support Self-Funding Learners at SRSCC
At SRSCC, we recognise the struggles that our self-funding learners face, especially within the current climate. Our self-funding learners are offered a payment plan that holds no interest- this is designed to make the cost & payment of our courses more manageable.