Need money to finance a graduate law degree

Student21

I'm extremely worried about how to finance myself for a two year graduate law degree. I've been told its a self funded course and I have not got the money to do this. I have looked at a career development loan but I need money to cover two years and I don't like the thought of paying back tons in interest. Help!

melancholly

some big firms sponsor people to do it - but applications for this year will already be over. otherwise, there are no 'good' options. taking a year or two out to work to save money may be the best bet.

Voyager2002

Part-time study? The OU is the obvious suggestion, but there are many others. There is a thread on here about Law distance learning from Northumbria University, for example.

atypical

melancholly wrote: »

some big firms sponsor people to do it - but applications for this year will already be over.

And it's incredibly competitive. They pay for your conversion course (GDL) and your LPC and give you a grant of around £5-6k. You'll also have a guaranteed training contract at the end of it. At the magic circle firms the trainee salary is around £37k then rising to £60k when you qualify.

You can see why it's so competitive. Most of the application deadlines were around January.

Annisele

If you're doing the course with the aim of getting a job as a lawyer (rather than for interest), I'd strongly recommend trying to get the job first. There are more places on GDL/LPC/BVC courses than there are jobs for trainee solicitors/pupils - so if you can't get an employer to fund your course (or at least promise you a job later), you might find it very difficult to get a job at the end.

student_84

So that I can give you directed information I need to know if you are looking into a GDL then LPC (2x1yr full time courses) or an MA in Law (2yrs) then LPC.

If it's them MA then you are unlikely to get a law firm to fund the course and would need to look into a career development loan. With a CDL the young person's learning agency will pay the interest while you are studying meaning that overall the rate is competitive.

If you are looking at a Graduate Diploma in Law then your best option is to apply to firms and secure a job first with a firm who will pay the fees for the GDL and LPC otherwise you're looking at a loan from NatWest which is called a professional development loan (I think) which will give you the money to cover the fees and living of the GDL and LPC, the repayment period is quite long on these and interest is only charged when money is drawn which can reduce the overall cost of lending. Try looking at www.lawcareers.net for more information

Student21

Thanks for all your responses.

My problem is that I'm going to be studying a graduate entry law degree which is the same as the normal LLB except its 2years instead of 3. I have looked into a career development loan with barclays, however this would only give me enough money to finance 1 year or to cover half the costs for 2years. So I am trying to figure out what I can do to get the extra money.

Because this will be a second degree for me its difficult to find support.

dmg24

Student21 wrote: »

Thanks for all your responses.

My problem is that I'm going to be studying a graduate entry law degree which is the same as the normal LLB except its 2years instead of 3. I have looked into a career development loan with barclays, however this would only give me enough money to finance 1 year or to cover half the costs for 2years. So I am trying to figure out what I can do to get the extra money.

Because this will be a second degree for me its difficult to find support.

Have you taken into account what others have said, about whether it would be worthwhile doing the course?