Actions BIS and the Skills Funding Agency will take when a further education college seeks exceptional financial support.
This document sets out the new financial support which may be available to further education (FE) colleges in financial difficulty and its direct links to the FE intervention strategy.
This financial support may be available in exceptional circumstances and may lead to intervention action. Where exceptional financial support is required by a college for a period which could exceed 1 year, this will lead to intervention action. If approved, it will be provided in the form of a loan entered into between BIS and the college, to support college actions which will:
- safeguard important further education provision
- implement sustainable business models and good financial controls
- help them become more responsive to change