Education Fund
- Name of the instrument - Local language
- Koulutusrahasto (Education Fund)
- Name of the instrument - English translation
- Education Fund
- Scheme ID
- 218
- Country
- Finland
- Reporting year
- 2015
- Type of instrument
- Grant for individuals
- Type of entry
- Single instrument
- Short description
The purpose of the Education Fund is to support employees' vocational education and training by granting their employers financial assistance (in the form of allowances and scholarships).
- Short description of the related instruments
nap
- Level of operation
- National
- Name of a part of the country
- nap
- Name of the region (for regional instruments)
- nap
- Name of the sector (for sectoral instruments)
- nap
- Relevance
- Key scheme
- Legal basis
Laki Koulutusrahastosta ('Act on the Education Fund')
- Objective(s) and target(s)
To promote lifelong learning and the development of skills in the labour market.
- Year of implementation
- 1970
- Year of latest amendment
- 2013
- Operation/management
The Education Fund administered by the social partners of the Finnish labour market.
Operations are supervised by the Financial Supervisory Authority.- Eligible group(s)
All employees
- Group(s) with preferential treatment
None
- Education and training eligible
Vocational training
- Source of financing and collection mechanism
Employers and employees (through the Unemployment Insurance Fund) and the State.
- Financing formula and allocation mechanisms
The Education Fund grants financial assistance to employees through 'Adult Education Allowance' and ' Scholarship for Qualified Employees'.
The maximum allowance period is 19 months if the applicant has a working history of at least 8 years. The amount of the allowance consist of a base amount (EUR 705.20) and a wage-based amount (45% of a difference between the monthly wage and the base amount). If the monthly wage exceeds EUR 3 444, the wage-based amount is only 20% of the difference between the monthly wage and base amount.
The scholarships amount to EUR 390 in general. In case a learner obtains a first qualification, the scholarship amounts to EUR 450. The scholarships are tax-free.
- Eligible costs
Fees only
- Volumes of funding
In 2014, the Education Fund paid out a total of EUR 145 800 000 in benefits, of which adult education allowances accounted for EUR 136 500 000 and scholarships for qualified employees for EUR 9 300 000.
- Beneficiaries/take up
In 2014, funding was granted to 39 820 individuals: 17 589 students and the scholarship to 22 231 individuals.
- Organisation responsible for monitoring/evaluation
The Financial Supervisory Authority.
- Monitoring/evaluation reports available
The Finnish National Board of Education (FNBE)
- Most relevant webpage - in English
- Most relevant webpage - local language
- Sources
- Short description
- Short description of the related instruments
- Level of operation
- Name of a part of the country
- Name of the region (for regional instruments)
- Name of the sector (for sectoral instruments)
- Relevance
- Legal basis
- Objective(s) and target(s)
- Year of implementation
- Year of latest amendment
- Operation/management
- Eligible group(s)
- Group(s) with preferential treatment
- Education and training eligible
- Source of financing and collection mechanism
- Financing formula and allocation mechanisms
- Eligible costs
- Volumes of funding
- Beneficiaries/take up
- Organisation responsible for monitoring/evaluation
- Monitoring/evaluation reports available
- Most relevant webpage - in English
- Most relevant webpage - local language
- Sources