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Update on education funding for 2017-18

Andrew Gladstone-Heighton

By: Andrew Gladstone-Heighton

Policy Leader

Thursday 22 December 2016

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The Education Funding Agency (EFA) has published its annual funding letter, providing an update on how 16-18 learners will be funded on a Study Programme from August 2017.

The key points in the letter are as follows:

  • The national base rate of £4,000 per full time student aged 16 to 17, and £3,300 for 18 year olds, remains unchanged for 2017-18. This also applies to the part time funding rates.
  • However, due to inflation, this represents around a 1.4% cut.
  • £160 million of further savings will be made, and a significant proportion of this will be realised by phasing out Formula Protection Funding (FPF) over a six-year period.
  • For those institutions still in receipt of FPF, in 2017-18 the EFA will continue to reduce FPF per student based on the same trajectory as applied in 2016-17.
  • Most institutions will be informed of their EFA allocation by the end of February 2017, and all will be informed by the end of March 2017.

 

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