Search results

This paper examines one aspect of an overall lifelong learning strategy: financing work-related training for adults. Although training loans are not the main financing mechanism for such learning, they are one of a number of potential instruments for stimulating learning beyond formal education. The paper begins with a discussion of some conceptual issues in the financing of adult learning, looking at where training loans might feature, why there might be a role for government, and some policy design issues. British training loans in the shape of Small Firms Training Loans (SFTLs) and Career Development Loans (CDLs) are described. Some evaluation and assessment of the schemes is provided. The evidence from the two schemes does not suggest that training loans will become a major element in the financing of lifelong learning. Take-up is too low. Loan schemes may be more appropriate where there is an existing demand for the training they are to finance. However, the case for loans is stronger when considering the institutional context. The author suggests that the use of public-private financing partnerships, of which SFTLs and CDLs are examples, is likely to be of increasing importance in the financing of lifelong learning.