The way the cost of training an apprentice is funded changed immensely with effect from April 2017. Employers have to choose the type of training they would like their apprentice to receive throughout their apprenticeship. There are currently two different types of apprenticeship scheme; frameworks and standards (both are funded in the same way).
The apprenticeship funding system is made up of 15 funding bands, with the upper limit of those bands ranging from £1,500 to £27,000. All existing apprenticeship frameworks and standards have been placed within one of these funding bands. New standards will be placed in a funding band as they become ready for use by employers.
The upper limit of each funding band caps:
- the maximum amount of digital funds an employer who pays the levy can use towards an individual apprenticeship.
- the maximum price that government will ‘co-invest’, where an employer does not pay the levy.
An updated list which sets out the funding bands that will apply for existing apprenticeship frameworks and apprenticeship standards was released on the 12th February 2018. More details and a list can be found here.
SEAC are able to work with both Levy paying and non-Levy paying organisations to employ an apprentice on your behalf. Click here for more details.