Reimbursement of 5% Co-Investment at Withdrawal

Ah, it's because of the 80/20 split in funding, so it's not a flat 1050/48, it's (1050*0.8)/48 for the monthly payment and then (1050*0.2) for the completion payment.

Oh - of course! So the 20% completion payment (which we will not get because of the withdrawal) needs removing from the £1050...leaving £840 (divided by 25 months on programme = £17.50 per month - employer contribution)

I'm sure I read somewhere that additionally the EPA price (the 5% employer contribution element) should be refunded in full if they have not undertaken it - is that correct, do you know?

So total EPA cost is £2515 - employer element is £2515* 5% = £125.75.

£840 - £125.75 = £714.25

£714.25 / 48 = £14.88 per month x 25 months = our retained amount.

Or am I over-complicating things?!

Thanks 

We just do what Steve said. Don't get the EPA cost mixed up in it, as the split between training/assessment isn't taken into account when working out what we get paid each month, it's purely based on the 80/20 split of the total price (sometimes the same split, but often not).

(Total price * 0.8)/months duration = Monthly on programme amount (MOP)
(MOP * months completed)/20 = Amount they need to have paid

OR

(Original 5% paid * 0.8) / 48 = Monthly required contribution (MRC)
MRC * 25 = Amount they need to have paid

Take that off what they paid originally. Make sure you round down your refund to the nearest £1 if it's in pence. You'll end up with a co-investment % paid of slightly over 100% but that's fine since we can't record our data in pence.

(£21,000 * 0.8) / 48 = £350
(£350 * 25) / 20 = £437.50
£1,050 - £437.50 = £612.5 refund, rounded down to £612

Thanks, Ruth Canham-James - that's a lot simpler!😊