Apprenticeship funding
Employers of all sizes can access funding to help cover the costs of apprenticeship training
Larger employers can fully fund training through their apprenticeship levy. This is a 0.5% levy for employers with an annual pay bill over £3M. Levy funds can be spent directly on apprenticeship training and the government will top up 10%.
Once levy funds are exhausted 95-100% government co-investment is available to cover any further apprenticeship training costs. Smaller employers can benefit from having 100% of costs covered through levy transfer from larger employers, which is something NU London can help organise (see below). Where levy transfer is not available, government co-investment covers 95% of training costs, or 100% if apprentices are aged 16-21, or under 24 with an EHC plan or is a care leaver.
Costs associated with apprenticeship training
Levy funding and government co-investment cover the costs of apprenticeship training only, with training costs set according to funding bands determined for each apprenticeship standard.
Employers will need to fund apprentice wages separately, along with usual staffing expenses such as travel and subsistence costs to attend in person training.
Employers may benefit from some additional government incentive payments, depending on the apprentice they hire. You can find more information here on the UK government website.
Added value through apprenticeships
As well as access to fully-funded training, Northeastern University London apprenticeships offer exceptional added value, with additional benefits including:
- A complimentary recruitment service to help you find the right candidate for your apprenticeship
- All apprenticeships include a higher education qualification
- Exceptional support from line managers and learners such as training and wellbeing support respectively
- Industry certifications embedded at no additional cost across a range of standards
Furthermore, employer partners become part of Northeastern’s vibrant, global academic community.
Levy transfer
In order to support non-levy paying employers and levy-payers who have exhausted their levy funds, Northeastern University London maintains a network of strategic partners who are keen to donate their levy.
Through levy donation, employers liable to cover some of their funding costs can instead have these fully covered by levy funds. Employers interested in donating or receiving levy funds can discuss their requirement with the NU London business development team who will be able to recommend and match employers based on shared strategic objectives.
Northeastern University London is a charity
registered with the Charity Commission for
England and Wales (charity number 1189858).
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Devon House
58 St Katharine’s Way
London E1W 1LP, UK
+44 20 7637 4550
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