paying for university

Beginning with appearing for the LNAT entrance test to start an undergraduate degree in law, enrolling as a student member of the Solicitors Regulatory Authority (SRA), completing the Graduate Diploma in law (GDL), the Legal Practice Course (LPC) or the Barristers Professional Training Course (BPTC) formerly the Bar Vocational Course (BVC) and other related costs can add up to a significant amount. 

Easing the financial burden can be done in several ways which we will discuss here. Financial support schemes are available through various resources – scholarships, government grants, bank loans, sponsorships and in-house funding schemes provided by law firms and chambers.

What to expect at university

The first set of expenses comes from applying when you begin the degree. Various fees will include tuition, joining and living expenses for undergraduate studies, both law and non-law courses and other small expenses. Students are always shocked by the first trip to the book store when armed with the reading list for example. Expect to pay anything from £150 to £300 a year purely on text books! 

This period of education could cost you up to £8,000 (fees + living costs) a year (£9,000 fees + £3,000 living costs per year from 2012), depending on the region and city you live in, location of the school or university and whether a commute is involved. Financial assistance is available by way of a student loan and these are disbursed separately, one to cover your tuition and the other for your living & maintenance expenses.

These loans are repayable on graduation, with nominal rates of interest for amounts which exceed a predefined payment threshold. Any amount up to this threshold is usually interest free. Grant programmes will be available at the university/school where you study and other grants are provided on certain predetermined criteria by the local education authorities. 

These do not have to be paid back. It is a good idea to contact you university to see whether they offer any incentive funds. Many universities will now offer a bursary to students with a certain amount of UCAS points. For higher and postgraduate studies, costs involved are much greater, especially for professional courses. 

What is involved after university?

In law, expenses for fees and maintenance need to be worked out while doing the Graduate Diploma in law (GDL – the law conversion course), the Legal Practice Course (LPC) or the Barristers Professional Training Course (BPTC) formerly the Bar Vocational Course (BVC).

If you are unfamiliar with these courses please see the courses section for more detailed information.

For the Graduate Diploma in Law (GDL), the law conversion course for people with a non-law degree, fees range from around £3,500 to £8,000, not including living and other expenses.

The Legal Practice Course (LPC), the course for aspiring solicitors can cost anything between £5,000 and £12,000 depending on the provider you choose. 

Similarly, the Barristers Professional Training Course (BPTC) formerly the Bar Vocational Course (BVC) for those who wish to become barrister will set you back between £10,000 £15,000.

Funding these courses is possible in only two ways, (i) a bank loan; (ii) sponsorship from the law firm offering you a training contract or the chambers offering you pupillage. There are no scholarships or education grants available from the institutions or the local education authorities for these programmes. 

Most banks have an active credit programme for funding higher studies with repayments beginning once employment is secured. These are treated like any other loans in terms of interest and repayment plans though. The only concession made is in the deferment of the repayment schedule. 

Many large and medium sized law firms offer full sponsorship for the Graduate Diploma in Law & Legal Practice Course (LPC) course fees, including payments with retrospective effect when the course has already been paid for by you.

Also, some chambers will sponsor those offered a pupillage through their Bar Vocational Professional Course (BPTC) previously the Bar Vocational Course (BVC).

In addition, some firms provide a substantial chunk of money for living expenses, depending on where operations are based and the location for your training.

During the training contract, salaries and interest-free season ticket loans and subsidised on-site restaurants which will form a large chunk of your expenses will be additionally funded as part of the annual benefits. Getting the necessary financial support once on a training contract is usually never an issue.

Resources & Applications

Some organizations and bodies which help out with student finance can be checked out at the following links:

http://www.studentfinancedirect.co.uk

http://www.dcsf.gov.uk/studentsupport

http://www.support4learning.org.uk

All these organizations provide detailed information on what funding is available, how to apply for assistance and the terms and conditions for providing such assistance.