Funding, Grants and Incentives

Apprenticeship Levy for Employers

In April 2017, the Government changed the way it funds apprenticeships and introduced the Apprenticeship Levy. This is for organisations with a pay bill of more than £3m. Our team of Business Development Leaders can guide you through the Apprenticeship Levy process and will confirm with you the details of the programme including how the training and assessment will be delivered, plus the duration and costs.

Fully funded Apprenticeships

If you’re an employer with less than 50 employees and are not a Levy organisation, the Government will fund the total cost of the Apprenticeship for 16-18 year old apprentices. For apprentices aged 19 and over, a 5% employer contribution will be applied, whilst the remaining 95% will be funded by the Government.

16-18 Incentive

All employers will be eligible to receive a £1,000 incentive payment for each 16-18 year old apprentice they hire. Two equal instalments will be made to employers by Preston College pending eligibility checks after the apprentice has been on programme for 3 months and again at 12 months. This incentive also applies to 19-24 year olds who have previously been in care, or who have a Local Authority Education, Health and Care plan.

CITB Grants Scheme

Preston College is able to support your company to secure a CITB grant if you are working in the construction industry.
You can claim grants for individuals on approved Apprenticeships in England and Wales

• Levels 2 (intermediate) and 3 (advanced) Apprenticeship frameworks, lasting 2 years or more
• Levels 2 and above of the new Apprenticeship standards in England, lasting 1 year or more
• Levels 4 (higher) and above Apprenticeship frameworks in England and Wales, lasting between 1 and 6 years

Further information is available here

16-24 Care Leavers Bursary

A £3,000 bursary will be paid to each care leaver in the eligible age range, when they start an apprenticeship after 1 August 2023, and will be paid in three payments as their apprenticeship progresses. This extra financial support will be for those aged 16-24 and help them in the first year of their apprenticeship as learners transition into the workplace for their practical studies.

For more information please visit the Government website here: Apprenticeships care leavers’ bursary guidance – GOV.UK (www.gov.uk)