Graduate loan required for cost of LPC course

lordexavier_the_2nd

Hello everyone.
The better half has just graduate with a law degree, which is lovelly but she has come across a stumbling block.
In order to progress with her trainning she needs to undertake another years trainning which is the LPC (i dont know what that stands for, i really should pay more attention.), This course costs approx £8,500.
Does any one know of a cheap loan company that is relliablle in order to pay the tuition fees for a student that is obviouslly not earing any money and is in full time education.
Thanks for your help.

davelewis

Try a Career Development Loan.

They are loans from the government for vocational courses - LPC is vocational - I am also going to do the LPC in September. I am applying for my Career Dev Loan now through Barclays Bank.

They are interest free while you are studying and 1 month after your studies end.

Hope this helps.

By the way - i notice your location is south wales - I am doing the LPC in Swansea - I wonder if your other half is as well??!!

lordexavier_the_2nd

Shes going to cardiff. Thanks for the info though.
Im trying to get this all sorted for her as she is stressed enough with the rest of her life. Cheers

thecooler

I completed my law degree a few years ago.

I bank with NatWest who (along with every other major bank who provide student/grad accounts) provides a number of graduate loan options, ie a normal personal loan at a guaranteed rate and the option to defer until you start working..although you have to have a firm job offer.

They also offer a specific loans to cover the cost of professional courses again at descent rates b/c they hope tht once you start working earning big $$$$$$$$ you will continue to bank with them.

They certainly offer a loan for the LPC (Legal Practice Course) around the 10k mark to cover course fees and living costs.......which my bank was hoping I would take out, although I went onto do an MA........unfortunatly they dont do a loan for that :cool:

enjoyincubus

Yep Natwest definately do a professional loan for people doing an LPC as my girlfriend got £12k two years ago to do one. That was about £7k for the course fee and £5k for debt consolidation. You don't start paying back until six months after the course finishes (I think it was the February she ended up starting to pay back). I think the loan just doesn't have to be for an LPC, I think it can cover any professional course.

Barclays also do one if I remember rightly, but you had to have been banking with them already. Therefore it is safe to assume that all banks offer something similar, so I would get her to check with her own bank.

If the rates are not very competitive (I think they are about 7.9%) then you could always get the loan in your name for a more competitive rate (probably best not tell them the truthful reason as they may not lend directly to you). However you would have to start paying back straight away, whereas the professional loan gives you the time needed to do the course and get a job before you have to start paying back.