Money Matters

16-19 Bursary Fund

The 16-19 Bursary Fund is a scheme intended to financially support the most vulnerable 16-19 year olds in full time education/training.  The money will be distributed by colleges/training providers.

For more information, visit: www.gov.uk/1619-bursary-fund

Child Benefit

Your Child Benefit stops on 31 August on or after your 16th birthday if you leave education or training. It continues if you stay in approved education or training

For further information, please visit www.gov.uk/child-benefit-16-19

Post 16 Finance - Employment/employed apprenticeships

If you secure an employed apprenticeship, or find full time employment, Child Benefit and Tax Credits payments will stop.

All employed apprentices must receive a wage of at least £3.70 per hour from 1st April 2018.  In some cases this may be higher; this is dependent upon your employer.

From April 2018 the National Minimum Wage was increased to the following:

16 - 17 year olds - £4.20 per hour

18 - 20 year olds - £5.90 per hour

21 – 24 year olds - £7.38 per hour

25 and over - £7.83

These rates are usually revised on an annual basis every April.