The Learning and Skills Council has earmarked £50 million to support successful colleges and other further education institutions that become oversubscribed in the next academic year. Combined with £42 million already set aside for planned growth, this makes £92 million of new money available in 2002-03 to help attract more young people and adults into learning. The funds are part of a £247 million package that will allow colleges to expand academic activity by around five per cent in the next academic year.
The £50 million is a Responsive Growth Fund targeted at colleges and other FE institutions that attract even more students than had been planned, particularly key groups such as 16-18 year olds who might leave learning altogether, as well as adults with poor basic skills.
A further £42 million has been earmarked as Planned Growth Funding. This will fund anticipated participation in education by 16-18 year olds and an increase in the number of adult basic skills learners.
John Harwood, Chief Executive of the Learning and Skills Council, said: "We are targeting substantial extra funds at the Government’s top priorities of learning for young people and improving basic literacy and numeracy skills among adults. I want to reassure colleges that, where they exceed targets, they can honour their commitment to students by drawing down extra funds from a new Responsive Growth Fund... I want every 16 to 18 year old to have the chance to continue learning and the Council will make funding available to colleges which help bring this about. Within our adult budget, I want to emphasise that basic skills are our first priority."
