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24+ Advanced Learning Loans : budget management

Publisher
Skills Funding Agency
Publication Date
Disciplines
  • Education

Abstract

24+ Advanced Learning Loans Budget Management Budget Management April 2013 Of interest to colleges and private training organisations 24+ Advanced Learning Loans 1 of 4 Introduction 1. This briefing note describes the budget management process for 24+ Advanced Learning Loans (Loans), setting out how we will work to ensure funding supports the demand for Loans and the learners’ choices. We have worked with the further education (FE) sector to produce this guidance and in the first year we will keep the process under review to ensure that it remains fit for purpose. 2. We will set out full details of the Agency’s Loans performance management process in the Performance Management Guide, which we will release before issuing contracts for 2013/14. Loans Budget Management 3. We will use data from the Student Loans Company about Loans commitments (approved Loans) to manage the Loans budget. We will compare the value of Loans commitments to the national budget profile, which is shown in Annex A. 4. The Agency will keep under review an amount of delivery against the national budget. We will not reduce colleges’ and private training organisations’ Loan Facilities unless there is a risk that the demand for Loans may exceed the national budget. 5. From June 2013 we will publish a monthly update showing the total value of Loans commitments. This will inform colleges and private training organisations when the value of Loan commitments could exceed the budget. This will give them advanced notice of when we might need to reduce their Loan Facilities, reflecting the wider demand for Loans places. 6. Where we need to reduce colleges’ and private training organisations’ Loan Facilities, we will focus first on those that have delivered small values of Loan- funded activity to date. 2 of 4 Process for Adjusting Loan Facilities 7. The 24+ Ad

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