A new Department for Education loans scheme for college capital projects has been confirmed today – but cash for the “time-limited” scheme won’t be available until the summer.
The Education and Skills Funding Agency in its weekly update said the DfE capital loans scheme will provide vital funding for FE capital schemes that are either under way or in the pipeline that have been held up as a result of reclassification of colleges into the public sector.
Full details are set to be published next month – which crucially will include eligibility criteria – with loan funding set to be available from “early summer”.
In November’s re-classification by the Office for National Statistics, the DfE said that colleges must gain special and rare permission from the DfE for finance deals with the private sector.
