What are the different sources of funding?
There are lots of different organisations that can support your learning. Each organisation provides funding for slightly different reasons and to individuals in different circumstances, so it is useful to understand the different sources of funding that are available.
- Statutory or government funding
- Educational trusts and charities
- Industrial or corporate funding
- Funding from your learning provider
Statutory or government funding
Statutory funding ranges from local council departments through to central government and European funding. The main features of statutory funding are:
- Statutory funders give grants to further their own objectives or meet their statutory responsibilities; they don't make grants just because they are sympathetic to a cause.
- They are more likely (than company or trust funders) to fund learners’ full course costs and are more likely to make larger grants for longer.
- There are likely to be publicly available guidelines/criteria and information about the way your application will be dealt with, and there is likely to be a special officer who you can talk to about your application.
Funding for learning is provided by some Government departments, such as the Department for Education, the Department for Work and Pensions and the Department for Business, Innovation & Skills. They run grant schemes in line with their policies and remit to help deliver their objectives. For example the Department for Work and Pensions provides funding to support unemployed people getting back into work .
Local authorities (councils) very often provide some kind of financial assistance to learners within their administrative area. The types of funding available will vary, depending on what the priorities of the local authority are, and the needs of the community. Sometimes this assistance will be in the form of free training and advice rather than direct grants.
Educational trusts
Educational trusts are charitable organisations that are specifically established to distribute money to support education and training, so they are an important source of funding for many learners.
Most trusts make small awards to assist learners with specific needs associated with their ability to study, which are not met or not fully met from other sources, such as childcare, books and equipment or travel expenses.
Some trusts are prepared to support an individual throughout the duration of their course, however this is extremely rare. Many trusts have a limited remit such as only assisting study leading to a particular profession; study at a specific academic level; those living in, or originating from, a specific geographical area; falling within a specific age range or those of a specified religion.
The main features of educational trusts are:
- Educational trusts can only fund things that fall within the criteria laid down in their trust deed (their governing document).
- Most give smallish, one-off grants for books, equipment and course fees and are reluctant to fund ongoing learning costs.
- To reduce administration costs, many trusts do not communicate with people who apply to them unless they decide to make a grant; nor do they make it clear when they meet (which may be only once or twice a year) or how they make decisions.
On average, educational trusts give something to one in twenty, or so, of the applications they receive. Many trusts are limited as to the geographic area they can make grants to.
Trusts don't have to publicise what they do, what sort of things they give money for, how you apply – or even that they exist at all. Some are very open about what they do, some aren't.
Many trusts meet only once or twice a year. You may need to get applications in well in advance of meetings.
Most trusts don't have application forms. In these cases you need to write a letter. Make sure it looks as if you've written to them personally; if your letter looks like you’ve sent it to lots of people already you stand less chance of success.
Industrial and corporate sponsorship
Local and national companies sometimes provide funding to support individuals either from disadvantaged backgrounds or who are interested in gaining skills relevant to their sector.
Things to remember about this kind of funding are:
- many companies give very small amounts
- many companies only give to their employees
- some companies only give in areas where the company has a 'presence' (an office or factory)
- most companies give one-off grants rather than long-term support
- bigger companies are more likely to have a social responsibility department and budget, with clear guidelines about what they wish to support and a clear understanding of the difference between their grants programme and any marketing or sponsorship deals they do.
- many companies provide help in kind – things like providing work equipment, tools or childcare support.
Funding from your learning provider
Your local college or learning provider might have some funding available to support you, especially if you’re in hardship and need extra financial support. Your learning provider will look at your individual circumstances, but you may, for example, be able to get help for the following:
- Course or living costs that are not already covered by other grants – these could be, for example, everyday living costs, childcare costs or support over the summer vacation if you have no one else to turn to.
- Emergency payments to cover unexpected financial crises or exceptional costs – such as repairs to household equipment.
- If you are thinking of giving up your course because of financial difficulties and need financial help to keep studying.