1,650 students expected to benefit in the first year
Two new schemes to support young people with post 16 education were approved by Tower Hamlets Council’s Cabinet on Wednesday.
The funds are part of Mayor Lutfur Rahman’s commitment to support young people to have greater life opportunities. They are particularly important given the cost-of-living crisis which is putting pressure on family budgets.
The Mayor’s Education Maintenance Allowance (EMA) is a £400 payment to eligible students to support them with their studies for the 2022/23 academic year. A funding package of £500k was announced for the first year of EMA which will support 1,250 students.
The Mayor’s University Bursary Award will support eligible students with living costs at university. Eligible students can apply for a £1,500 payment to support with costs associated with their undergraduate studies, including accommodation, books and resources. The total funding of £600k will support 400 students in the first year.
Payments for both schemes will be issued directly to the young people and can be applied for via the council’s website.
Lutfur Rahman, Mayor of Tower Hamlets, said:
“I am delighted to announce the Education Maintenance Allowance (EMA) and University Bursary Award schemes that will help minimise the financial challenges for young people pursuing further education.
“This financial support will help give young people the confidence and encouragement to continue their studies amid the cost-of-living crisis.
“Education is very close to my heart and supporting lifelong learning is a priority for my administration. It is vital that young people are supported to reach their full potential and given the tools and opportunities to become the future leaders of the next generation.”
Councillor Maium Talukdar, Cabinet Member for Education and Lifelong Learning, said:
“Every young person deserves a chance for an excellent education, irrespective of their financial circumstances.
“The announcement of these two schemes demonstrates the council’s commitment to supporting the young people in Tower Hamlets at a time when many families are struggling.”
The first application round for both schemes opens on 1 November 2022 and closes on 1 January 2023. Applications should be submitted on the EMA and University Bursary schemes web page
While the country is rocked by an immediate economic crisis it’s important to remember that long term productivity gains and wealth creation stem primarily from the quality of the workforce.
Macroeconomic stability is required to grow an economy. In the same way, microeconomic stability is required for students to learn. This EMA will immediately help provide more stability for students but in the long term, that stability will create dividends the whole of society can enjoy.