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Costs and financial support

The TSA supports two apprenticeship schemes. The following information gives employers an initial overview on costs and financial support. 

The costs 

While the value of the Apprenticeship is £24,000 for the Boatmastership and £26,000 for the Maritime Engineering Apprenticeship, this is not what employers pay! In fact, the apprenticeship is highly supported by the Government’s Education and Skills Funding Agency (ESFA).

 

Larger Employers’ costs
(who pay into the Government’s Apprenticeship Levy)

Smaller Employers’ costs (who don’t pay into the Government’s Apprenticeship Levy) 

Value of apprenticeship

Boatmaster Apprenticeship

£ 0

£ 1,200

£ 24,000

Maritime Engineering Apprenticeship.

£ 0

£ 1,300

£ 26,000

Employers have to cover the travel costs from and to the college in London. The Boatmaster apprenticeship also includes 7 weeks training in Plymouth, costs for travel, accommodation and sustenance will be paid by the employer. Costs for sustenance are £ 10 per day and reasonably priced accommodation is available. For further details on costs and options please contact SeaRegs training directly.

Financial support 

Government’s Education and Skills Funding Agency (ESFA) heavily supports apprenticeships. Find out more about Gov.uk's latest guidelines and details on financial support here. 

NEWS: The government extends and increases the financial support to hire an apprentice until September 2021!

Smaller and medium sized companies will be charged 5% of the costs with the other 95% covered by ESFA. And even this can be met via grants. The Worshipful Company of Shipwrights offers grants to small and medium sized maritime businesses who haven’t had an apprentice before. This grant reimburses the apprentice’s salary in the first year. 

Since 2014 the Shipwrights Company has supported the employment of 113 apprentices at 95 marine SMEs. For the academic year 2021-22 starting in Sept, there are another 6 grants available to support marine sector SMEs! So find out how to apply and get in touch now!  

From August 2021, employers who pay the Apprenticeship Levy will be able to transfer unspent levy funds in bulk to small and medium-sized enterprises (SMEs) with a new pledge function. Unspent levy funds will still expire after 24 months. The government will also introduce, from August 2021, a new online service to match levy payers with SMEs that share their business priorities.  

More advice

Simon Lofting from South Essex College explains how to join the apprenticeship scheme and what financial support is available: 

 

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