BPP Law School has thrown a vital lifeline to aspiring lawyers struggling to access funds to pay for their postgraduate legal studies after NatWest’s recent decision to withdraw a vital student loan.
The postgraduate law school has today (2 March) unveiled more flexible payment methods to help students spread the costs of their Legal Practice Course (LPC) and Graduate Diploma in Law (GDL) fees.
From September 2011, full-time LPC and GDL students will be eligible to spread their interest free payments over four annual instalments instead of two.
Part-time students can also enjoy more flexible arrangements, with the choice to make eight interest free payments over the length of the programme for the LPC, Bar Professional Training Course (BPTC) and GDL.
However, there will be no changes made to the payment for full-time BPTC students, which will remain at three interest free instalments per year.
The new payment options will also apply to all undergraduate and postgraduate degree programmes run from BPP’s Business School.
NatWest will be cancelling its loan products for law students from April 2011, as reported on Lawyer2B.com last month (10 February), which has left would-be lawyers with very limited options for self-funding their compulsory postgraduate courses.
BPP is also currently looking at alternative funding providers to substitute NatWest’s outgoing Professional Trainee Loan Scheme.
Meanwhile, BPP along with most other postgraduate law schools, will be increasing both its LPC and GDL fees later this year, meaning the full-time compulsory course for solicitors at BPP’s London campus will cost a whopping £12,900 (Lawyer2B.com, 9 February).
Currently in the 2nd year of my law degree, I can definitely say that NatWest pulling their loans has had a dramatic effect on my own future. However, I would say that it will narrow the field, albeit to those who can afford to enter into the LPC.
Perhaps universities need to look at their entry requirements, is it too easy to get a law degree nowadays? Most senior partners in firms barely scraped a 2:2 and now it is essential to have a 2:1 to apparently have the ability to succeed at the top!
The legal system needs a complete overhaul! The BPP are merely increasing revenue opportunities to entice students into believing there is a life after the LPC if you don’t have a training contract…I beg to differ!
Degree grades have been inflated. 30 years ago a 2:2 was considered a ‘good degree’, a 2:1 was a very good degree and a 1.0 was virtually unheard of.
I remember that Newcastle uni went 6 years without awarding a 1.0.
If you are on your GDL and have taken out a loan already, then Natwest will still fund your LPC year. You can still apply before the 10th April for the loan, but double check if you’re a non-law student if they’ll suppport both years.
I think it’s just because there’s so much competition that a 2.1 has become the basic. Firms can choose to be more selective.
Do not be fooled, I got a third and applied to do my LPC at a prestious institution. Natwest claimed they were working in conjuntion with this LPC provider offering the Professional Trainee Loan. Hence I applied, not hearing from them in a month I contacted them to find out what is happening only to be asked what class of degree I had? Then the guy replied oh no you cannot get it based on that class. So I went back to my provider and said please inform your prospective students of the flawsof your system. They quickly refused to take the blame for NATWEST so dont be fooled they were not helping students in the first place. I found my way out in the end.