How To Fund Your Postgraduate Degree: LPC and BPC
Updated: Jul 20, 2020
It can be difficult at a young age to fund £16,000-£17,000 all by yourself. This article will assist you to lift that burden and help you on your journey. Check out the video which goes into detail on the funding methods. These methods were undertaken by a person who also had to self-fund. You are not alone in your journey.
COSTS FOR SEPTEMBER 2020
University of Law/ BPP
LPC
£12,750 – £17,300
£15,485 – £18,735
BPC
£12,290 – £16,690
£12,620 (14,500) – £16,000
The location you take the LPC or BPC will determine the ultimate cost with London campuses being more expensive.
POSTGRADUATE LOANS
The LPC, BPC and GDL are NOT eligible for postgraduate loans. They are considered to be DIPLOMAS not a Masters.
So..
If you want to only complete to LPC or BPC you will have to self-fund the course yourself.
However, you can combine the LPC or BPC with a Master’s degree such as LLM or MSc which makes you eligible to receive a Postgraduate Master’s Loan.
This will help with course fees and living costs
You can receive up to £11,222 (as of July 2020) if your course starts on or after 1 August 2020
With the loan you will still need to self-fund some of your course BUT the majority may be covered by the Loan
https://www.gov.uk/masters-loan
POSTGRADUATE AND MASTERS OPTIONS
University of Law
· BPC LLM
· LPC with LLM
· LPC with MSc on Law, Business and Management
BPP
· LPC with LLM
· LLM Legal Practice (Bar) – incorporates all elements of the BTC
PAYING IN INSTALMENTS
The University of Law offers various payment plans – 1 instalment, 3 instalments or 10 instalments.
Schedule of the payment plan for a September 2020 starter.
POSTGRADUATE SCHOLARSHIPS AND BURSARIES
If you manage to secure a scholarship and bursary you will receive a deduction in your postgraduate fees or have the whole cost paid for you.
For more details on the below scholarships and bursaries check the provider’s websites or contact them regarding it.
University of Law
Career Change Scholarship
The Lord Blunkett Widening Access Awards
Choose Law Full-Fee Scholarships
Set for Success Scholarships
Law First Scholarships
Campus Dean’s LPC Awards
The Daniel Turnbull Memorial Scholarship
Bar Practice Course Awards
Charles Russell Speechlys Award
Other sources of scholarships and bursaries
BPP
Career Commitment Scholarship – value of £2,000
Full-fee scholarships (10 available)
Inns of Court Scholarships
Every Inn offers its own scholarships but you have to be a member first – so it is definitely worth applying!
Receiving a scholarship from an Inn would greatly aid your pupillage applications as you are already seen as a good candidate with support from your Inn.
BANKS AND STUDENT OVERDRAFTS
Some banks allow you to open up student bank accounts for the duration of your course. You will need a conformation letter from your university confirming your place on the course before you can open up an account.
Depending on the bank and your credit score, you can be offered student overdrafts and varying benefits. Benefits can range from interest-free overdrafts to free railcards.
Be sure to check with your bank and look around at other banks for the best arrangement for you. Look at what is on offer and go for the best deal.
https://www.moneysavingexpert.com/students/graduate-bank-accounts/
EMPLOYMENT
Working during your postgraduate will be difficult but it would significantly help you with finances.
Remember that this work experience does not have to be legal.
Zero-hour contracts
This type of employment is incredibly flexible which is great alongside studying.
Examples of work: waitressing, bar-tending, events, porter.
Legal Jargon
76 views0 comments