News
Banks tighten squeeze on LPC students
- 18th June 2010
While Nigel Savage is enjoying his fat cat salary, LPC students are finding it increasingly difficult to secure loans to help them through the LPC year according to the chair of the Junior Lawyers’ Division (JLD).
Heidi Sandy told the Law Society Gazette that access to the profession is therefore being restricted with banks becoming increasingly cautious as to whether or not the student will be able to secure job at the end of the LPC.
She says lending criteria has been tightened with some dropping the postgraduate schemes. Heidi warns of the adverse impact on diversity within the legal profession by preventing those from less privileged backgrounds from getting through the LPC.
Heidi told AAL: “[The JLD] has discussed sending an open letter to those banks that offer career development loans…but I don't anticipate that this kind of communication with the banks will be successful. We aim to just get the message out there in the press as possible so that the banks are aware we are alive to the issue.”
She has this to say to students: “Those aspiring to become solicitors should not be discouraged by this. There are other ways of funding which are set out on our website (http://juniorlawyers.lawsociety.org.uk/career/funding#lsschemes">http://juniorlawyers.lawsociety.org.uk/career/funding#lsschemes) that people can look to. Students may also consider completing the course part time so that they can work at the same time.
Heidi says it’s her understanding that applications for the Law Society Diversity Access Scheme have increased to nearly 200 this year compared to 92 the previous year.
-
