Tower Hamlets Council has signed off on two new schemes aimed at encouraging young people to stay in education after turning 16.

The first scheme, the Education Maintenance Allowance (EMA), is a £400 payment to eligible students to support them with their studies for the 2022/23 academic year. Backed by a funding package of £500,000 for the first year, this will support 1,250 students.

The second scheme, the University Bursary Award, will be backed by £600,000 of funding and will give eligible students £1,500 to help with costs associated with their undergraduate studies, including accommodation, books and resources. The council estimates this scheme will support 400 students in the first year.

Lutfur Rahman, mayor of Tower Hamlets, said: ‘I am delighted to announce the Education Maintenance Allowance (EMA) and University Bursary Award schemes that will help minimise the financial challenges for young people pursuing further education.

‘This financial support will help give young people the confidence and encouragement to continue their studies amid the cost-of-living crisis.

‘Education is very close to my heart and supporting lifelong learning is a priority for my administration. It is vital that young people are supported to reach their full potential and given the tools and opportunities to become the future leaders of the next generation.’

Cllr Maium Talukdar, cabinet member for Education and Lifelong Learning, said: ‘Every young person deserves a chance for an excellent education, irrespective of their financial circumstances.

‘The announcement of these two schemes demonstrates the council’s commitment to supporting the young people in Tower Hamlets at a time when many families are struggling.’