|Funding element||Final 2014-15 allocations (April 2016): Total (in £M)||Adjusted 2014-15 allocations (March 2015): Total (in £M)||Initial 2014-15 allocations (March 2014): Total (in £M)|
|Funding for old-regime students (phase-out of mainstream and employer co-funded teaching grant)||507||522||500|
|Funding for new-regime students in high-cost subjects||443||450||468|
|Student opportunity funding||357||366||366|
|Other targeted allocations and recurrent teaching grants||241||247||248|
As noted on the 2014-15 summary page, a £38 million reduction was made to the 2014-15 teaching grant from October 2015.
Funding for old-regime students
This was subject-based funding for old-regime students who commenced their studies before 1 September 2012.
High-cost funding for new-regime students
This was subject-based funding for new-regime students in high-cost subjects (price groups A to C1 for undergraduates, and price groups A to C2 for postgraduates).
This allocation contained elements to recognise the extra costs associated with:
- recruiting and supporting students from disadvantaged backgrounds currently under-represented in higher education (£67.1 million)
- widening access and improving provision for disabled students (£15.3 million)
- improving the retention of students most at risk of not continuing their studies (£275 million)
Note that the provisional allocations released in March 2014 were lower than these totals as we set aside £3 million for allocation in October 2014, to allow for corrections by institutions to their underlying data.
Student opportunity funding allocation method
Figures in these documents relate to the initial allocations announced in March 2014. The budgets have since changed, but the allocation method remains the same.