Frequently Asked Questions
I wish to study to become a personal financial advisor. Can I apply for a grant to pursue such a course?
Sadly we are unable to fund such courses. The MSE Charity has been created to support individuals and groups within the United Kingdom to develop a means by which they can improve their own financial decision making. Unfortunately this also means that we cannot support any career development, vocational courses, undergraduate or postgraduate studies.
What exactly do you mean by an approved and accredited course?
An approved and accredited course is one run by an established educational institution or organisation. Accredited courses are those which are monitored and offer certification by a recognised body authorised to agree the content and qualification standards. Though there are other courses two we have supported are the CCCS "Personal Money Management Course" details of which can be found on http://www.cccs.co.uk/DebtTraining/debt-advice-training.aspx and the OU course ‘You and your money: personal finance in context http://www.open.ac.uk/
Can I apply for an Individual Grant to help with my college or university costs?
The Trustees are sorry but they are unable to support any course which does not directly relate to improving your knowledge of how to manage your personal finances.
What happens if the course I wish to attend is not accredited?
If the course you wish to take is not accredited you can still apply, but grants will only be made if the Grant Approval Panel (GAP) is satisfied that an established and professional organisation is running the course and it is provided with a copy of the course content.
I have not yet applied for a course can I still apply for a grant?
You can apply for a grant and if approved the funding will be held over for you until you have been accepted on an accredited course. This will also be the case if you have applied and are waiting for confirmation of acceptance.
What happens if once I start a course I am unable to complete it?
We would expect you to inform us if you are unable to complete your course. Depending on the individual circumstances we may require you to return some of or all the grant.
How many times a year can I apply?
You will only be entitled to one grant. However if your application is rejected you can re-submit it but you should take into account any comments made by the GAP in rejecting it. If you were rejected because the course was ineligible, then it may be that you cannot re-apply in your current position. You may wish to speak to us about this.
What is the maximum amount I can apply for?
The maximum award for any one project is £500 towards the cost of attending or participating in the course. Please resist the temptation to apply for more than you need as the GAP may well refuse the whole application if it thinks it unreasonable.
Can I apply for childcare costs while I'm attending the course?
The Trustees are keen to assist in any way they can and so they will consider all legitimate costs provided they do not exceed £500.
What information do you require from me?
Apart from your personal details. The GAP will want to know about the course and how you think you will benefit from it. They will also want to know a little about your personal circumstances as to why you are not able to fund the cost of the course yourself.
How long do I have to wait for a decision?
There are three panel meetings a year. The closing dates for applications for each round will be announced on this website and in your weekly MoneySavingExpert.com email. The charity hopes to make a decision within six weeks of the deadline. This gives us time to process your application, the GAP to meet, and then get the decisions ratified. The charity will send a letter to all applicants notifying them of the panel’s decision.
Regrettably we will not be able to respond to any ineligible applications for an individual grant so please make sure the course you are applying for meets the criteria.
When will I receive the grant and how long do I have to spend the money?
Any money will be allocated for attendance on a named course and for a specific starting date. If the fund is to pay for tuition fees payment will be made direct to the course. If the grant is for other expenses payment will be made once the course has been started. If this causes a difficulty then you will need to discuss the matter with the Operations Manager.
Do I have to lay out the money and then claim it back?
We will endeavour to pay course fees direct to the provider but for all other costs it would be helpful to have receipts for other expenditure. However, if this causes a difficulty then you will need to discuss the matter with the Operations Manager.
Is there anything else you will want from me?
If the Trustees make you an offer you will receive a monitoring form with your funding agreement which we need you to complete and return to us as requested. We would also wish to be kept informed during the progression of the course in the hope that it can be an encouragement to others. However, we would never disclose your identity without your written permission.
What happens if I want to change the course or start date once the application has been approved?
You will need to contact the Operations Manager, who will make a decision depending on the individual circumstances.
What happens if I apply for a grant from another funder for the same project?
Funding may well be available from other sources, including the course provider, to cover the costs. We would expect you to have made enquiries and an application to such a body before contacting The MSE Charity. On the application form there is a space for you to say if you are applying for funds from other funders – please complete this. It may be that you will only receive part funding from other providers and are seeking additional funding from The MSE Charity to help with any shortfall. To claim money from two sources for the same thing is unlawful so please be careful.
I am under 18 can I apply for a grant?