£1 million fund will help ease pain of graduate debt
UKFast has created a £1 million ‘GradCash’ fund to help new recruits who join the company on a graduate scheme reduce their student debt.
The Manchester-based cloud specialist will offer £2,000 of the fund to each graduate within their first two years of employment.
UKFast recently announced its commitment to employ 100 graduates this year, twice the number from last year. An ambitious plan of employing 500 has been set over the next five years.
Five years ago, new university students across the country were the first to be hit by tripled university tuition fees up to a maximum of £9,000.
This latest announcement comes shortly after cybersecurity consultancy Secarma, owned by UKFast CEO Lawrence Jones (pictured), held a day of workshops on July 28 aimed at educating students about the industry.
Commenting on the new fund, Jones said: “The current trajectory we are on requires us to expand the workforce significantly and we are hugely impressed with the quality of candidates applying since launching the scheme last week.
“After hearing every single student cite their debt as their biggest concern, we decided to do something about it.
“These graduates are the first to be hit with tripled fees. In a world where I believe we should not have to pay for education, it’s up to anyone who can make a difference to do just that.
“We are in a fortunate position and as business leaders it makes perfect sense to invest in the next generation, both financially and with continuous training. These graduates will go on to make UKFast successful for generations to come.
“It’s hard for graduates to find jobs and to get on the property ladder, so we are putting £2,000 directly towards their debt on top of their salaries and all the usual benefits of being on the UKFast team.”