Legal Practice Course. Loans?

huntergatherer_2

I intend to study for the postgraduate legal practice course next year, to enable me to train as a solicitor. This will cost in the region of £7000. I will need to borrow this sum. I've taken a look round the website, and read the information on CDL. Are there any other alternatives (eg professional studies loans/graduate loans etc from banks) that would be preferable?

pin

CDL will probably work out the best bet for the LPC. The banks will charge near commercial rates for their graduate loans.

Also I think the rates for the LPC has gone up for most providers. Also got to remember living costs on top of that. I know quite a few people who did the LPC full time and worked part-time. In all fairness its not the hardest course in the world.

molotov_3

Barclays do a professional studies loan

huntergatherer_2

Most of the major banks offer professional studies loans. They seem to offer similar APRs (although typically higher) and repayment terms to the career development loans, so I'm assuming they are just for people ineligible for a CDL or are offered by banks who do not offer a CDL.

Correct my if I'm wrong though.

JohnV85

Get a training contract, and you'll get it paid for you. That is if you secure one at one of the larger city (non regional) firms.

melancholly

JohnV85 wrote:

Get a training contract, and you'll get it paid for you. That is if you secure one at one of the larger city (non regional) firms.

Training contracts are the best place to start - if you want to work in a city firm then they are very unlikely to hire you after all your training if they wouldn't do so beforehand. I don't know how it works with regional firms, but for the city, that seems to be the way if works.

pin

JohnV85 wrote:

Get a training contract, and you'll get it paid for you. That is if you secure one at one of the larger city (non regional) firms.

Getting a training contract that pays for your LPC is normally the reserve of the larger firms in any major city.

huntergatherer_2

I have a training contract, but they don't contribute towards LPC fees. Thats pretty standard amongst smaller regional firms, only the larger ones tend to contribute or fully fund.

I have no problem getting out a loan, I'm not bitter or anything, just want to make sure I'm getting the best deal.

pin

huntergatherer wrote:

I have a training contract, but they don't contribute towards LPC fees. Thats pretty standard amongst smaller regional firms, only the larger ones tend to contribute or fully fund.

I have no problem getting out a loan, I'm not bitter or anything, just want to make sure I'm getting the best deal.

Have you asked your law firm to see if they could offer you a loan for the LPC?

pin

Just an update re the LPC funding. Was reading the Law Society Gazette and saw this article, where the Law Soc are providing funding for LPC students.

See here for more info:

http://www.lawgazette.co.uk/news/companycommercial/view=newsarticle.law?GAZETTENEWSID=265808

trinaodee

If you study with BPP or the College of Law then there are arrangements with Nat West to offer loans to students.

They're good with regards to repayment and things, but totally fleece you on the overall interest.