Funding explained for people wanting to take a course at Mode
If you want to do an apprenticeship at Mode, there the Government usually provides funding. Also, a contribution is normally made by the company you will be employed by. Similarly, the costs of a study programme or a traineeship are met by the Government.
Besides Government financial support, there is also the option of taking out an advanced learning loan This is providing your course is a level 3 or above, and you are 19 or over.
Finally, you have the option of paying for a course privately.
Funding explained for employers
There is Government assistance available for employers who want to take on an apprentice. Generally, this is 90% of costs of training and assessment. Importantly, this is for employers who have a staff wage bill of less than £3m. So employers with a bigger wage bill must use their apprenticeship levy funds instead. Apprentices’ wages must be paid for by the employer.