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From the technical funding guide:
- If you record a residual price in the ILR, we will not deduct any previous earnings as the residual price entered represents the remaining price from this point forward. We apply the funding band maximum to the sum of previous earnings plus the new residual price. After applying the funding band maximum, we will deduct 20% of the residual price for completion and then spread the remaining cost over the remaining length of the programme.
HTH
Christine Gregory
Change of Employer payments and change in completion payment
Created
Hi,
I am aware of how to calculate change of employer payments/prices & know this results in a reduction of completion amount due, but is there anything in writing/funding rules/methodology about how this is calculated etc?
Thanks