There are a number of financial support options available for apprentices and CIPS learners, when studying with SRSCC. Find a finance support package that suits you!
Apprenticeship Finance Support
For learners studying an apprenticeship, SRSCC can point you in the right direction to access the necessary funding support.
The levy is paid into by employers with a pay bill of over £3 million (the company pay 0.5% of their total annual pay bill). The purpose of the levy is to create sustainable funding for apprenticeships and to give employers more control to provide their staff with a range of training opportunities. If an employer’s wage bill is not over £3m, they are required to co-invest 5% of the cost of the Apprenticeship training, and the levy covers the other 95% of the costs.
Extra Support for Smaller Organisations
The government will fund all of the apprenticeship training costs (for up to the maximum value of the funding band), for employers with less than 50 employees if they meet the following requirements. On the first day of their apprenticeship, the apprentice is:
- Aged between 16 and 18 years old (or 15 years old if the apprentice’s 16th birthday is between the last Friday of June and 31 August); or
- Aged between 19 and 24 years old and has either: An EHC plan provided by their local authority; or been in the care of their local authority
There are many other options available to learners who don’t want to complete an Apprenticeship, but still want to improve their knowledge and skills.
Advanced Learner Loans
An Advanced Learner Loan is available for individuals aged 19 and above to study approved qualifications from Levels 3 through to 6- this has to be studied with an approved provider in England. The loan is designed to give financial support for students’ tuition costs, much like Student Loans given to those studying in Higher Education. A list of approved qualifications that the Advanced Learner Loan will cover can be found on the Government website.
SRSCC is currently in the process of being approved to accept Advanced Learner Loans to our students.
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Increase procurement knowledge, skills and competency with top accredited Supply Chain Apprenticeship & CIPS Courses at SRSCC.