Training Bursary Payment Schedule

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Training Bursary Payment Schedule

Postby Mountainman on Fri Feb 05, 2016 9:11 pm

Hi guys ... I'm new here, and hoping somebody might be able to help me out with some information.

I'm planning a career change - giving up my current legal career, going back to college, doing a PGCE (Middle Years with Maths) then looking for a KS2 post in a primary school somewhere. Only, to make the finances work, I'm going to need to get one of those training bursaries they're throwing at people wanting to train as secondary teachers in priority subjects ... and that the joy of the Middle Years PGCE. It covers KS3 so it attracts the bursary ... but it qualifies you for KS2.

Now here's the thing ... even with the bursary, finances are going to be tight ... it'll be a big drop in earnings ... and I need to be sure I can continue paying the mortgage no matter what. And that means doing a detailed cash-flow analysis, to make sure the money I need will always be there. And that means knowing what the payment schedule for the training bursary will be. And nobody seems to want to tell me that!!

The "Get into Teaching" website says this:

If you are awarded a bursary of £15,000 or over, or a scholarship of £25,000 or £30,000, and study full-time:
you will receive 10 equal monthly instalments from October to July, but with additional payments in February and July, or in the final month of your course
you will need to be on the course on 1 January to receive the first additional payment in February, and will need to complete the course to receive the second additional payment at the end of your course
you are advised to confirm the actual payment schedule with your initial teacher training (ITT) provider


I'm expecting a bursary of 25K (maths ... with a Master's degree (in canon law, if you really want to know ... )) so I get the fact that I'll get "ten equal instalments" + two additional payments which will total 25K across a ten month period ... but I don't know HOW MUCH the "ten equal instalments" are, or HOW MUCH the two additional payments will be. And without this information, I cannot project my cash flow and make sure it will all work.

Get Into Teaching advises me to "confirm the actual payment schedule with [my] ITT provider", so I tried to do that ... and they just referred me back to the Get Into Teaching website. GAAAAHHHHH!!!!!

Soooo ... if anyone out there is receiving a 25K training bursary this year ... could you just post and say how much each of those "ten equal instalments" is ... and how much each of those two "additional payments" is???

Ta ever so muchly ...
Mountainman
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