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The government announced on 31 August 2019 that it will invest an extra £400 million in 16-19 education in 2020-21, which will increase funding per student for all provider types. This is the largest injection of money in a single year since 2010 and represents an increase of 7% in overall 16-19 funding. As part of this, the base rate of 16-19 funding will increase by 4.7% in academic year 2020-21, from £4,000 to £4,188. This extra funding will support both vocational and academic courses.
Overall, the average rate of programme funding per 16-19 student in the 2019-20 academic year is £4507, which includes additional funding provided on top of the base rate through the 16-19 funding formula. This additional funding covers, for example, the needs of disadvantaged students. A 4.7% increase in that level would take average funding in 2020-21 to just over £4,700 per year.
Funding rates are based on a combination of values and factors relating to students and their learning programmes, and are calculated based on summary data at institution level. As a result, it is not possible to identify a specific figure for the funding per student for different types of provision. The different rates that apply for each element of the formula are set out in the Education and Skills Funding Agency’s funding rates and formula guidance, which is available at the following link: https://assets.publishing.service.gov.uk/government/uploads/system/uploads/attachment_data/file/809266/Funding_rates_and_formula_201920_v2.pdf.
T Levels will not be delivered until September 2020 and therefore we do not yet know what the average level of funding per student will be. T Levels will attract more funding than other programmes, reflecting the fact that they require additional time to deliver them.
As with other 16-19 courses, we have now announced that T Levels funding rates will also be increased by 4.7% in 2020-21 and we have published details of the new T Level funding bands at the following link: https://www.gov.uk/guidance/16-to-19-education-funding-allocations.