The new ‘flexible’ way to fund Care qualifications for ‘Grown Ups’...
The new advanced Learning loan scheme is an absolute gift to the care sector!
Well, aside from allowing ‘grown ups’ to sidestep all those extra qualifications that Apprenticeships make you do (Maths, anyone?) it’s a great way to get to do your Level 3 Diploma in Care or Level 5 Diploma in Care Management.
The salary thresholds set to require repayments mean, that unless a learner climbs the career ladder to a management position, they’re never ever going to have to pay any money towards the course they’ve taken.
Very similar to a university student loan, with no credit check and no proof of income required to partake.
So how much do typical Senior Carers earn? £350 per week?
The repayment rate against the funding for a Level 3 qualification for a Senior Carer who earns £350 per week is precisely £0 per week. Yes, nothing whatsoever.
And after 30 years the balance is written off, so your staff member will never ever pay it.
Lets say another staff member uses the scheme to take a Level 5 in Care Management and eventually ends up earning £500 per week… Wow! They’d be delighted right?
They would then be required to pay back the Level 5 course funding at the rate of….
£7.50 per week. That’s all, we will state that again in words, just in case you think you read it wrong .. "Seven Pounds Fifty Pence" Out of their lovely £150 per week wage rise they would be getting.
And re payments start after March 2016, for those participating in August 1st 2013.
A ‘no-brainer’ really isn’t it?
And… If ever their income dropped below £400 per week the payments would stop, until such time as it went over the threshold again!
So who can participate?
UK Resident for 3 years?
No previous qualification at the same level you’d like to take?
Ask us for a Qualification and funding letter from edo for full Terms and conditions; we’ll lead you through the process and help you to complete the application form, we will then get approval for you!
With our experience and expertise in assisting the Care sector to identify and take advantage of opportunities to develop its staff and maintain its compliance, edo are able and ready to help you find the right way.
Call us now to discuss your particular requirements and lets have chat about how edo can help you with the above or indeed identify other areas where you can get help.
edo ...We Do.