Student loans available when doing a LPC LLM paid for via training contract

[Omi]

I will Be starting the LPC in September and will be doing it with the additional legal practice LLM . As I have a training contract and it will all be paid for will I still be eligible for student finance?

has anyone who is in the same situation for. Student finance and how much did you get ?

I have heard everyone gets the max of 11k but I was wondering if that would be different if your actual tuition fees are being covered ?

 

[George Maxwell]

I will Be starting the LPC in September and will be doing it with the additional legal practice LLM . As I have a training contract and it will all be paid for will I still be eligible for student finance?

has anyone who is in the same situation for. Student finance and how much did you get ?

I have heard everyone gets the max of 11k but I was wondering if that would be different if your actual tuition fees are being covered ?

Hi @Omi,

Unfortunately I do not know the answer to this question. @Jessica Booker might be able to advise however.

I am on hand to help if you have any other queries though 😊

 

[Jessica Booker]

As I understand it, you are still eligible for student finance. They do not factor in other forms of income into the decision, you just have to be eligible for the loan which is typically based on nationality/country of residence, the course you are studying and whether you have had a PG loan before. This is how many students cover their costs beyond the maintenance grant.

I haven’t been involved in onboarding people on to the GDL/LPC for sometime though and so things might have changed since then. Hopefully our community might be able to come back with what they have done.

 

[SLKEJRWOI97]

I will Be starting the LPC in September and will be doing it with the additional legal practice LLM . As I have a training contract and it will all be paid for will I still be eligible for student finance?

has anyone who is in the same situation for. Student finance and how much did you get ?

I have heard everyone gets the max of 11k but I was wondering if that would be different if your actual tuition fees are being covered ?

I can confirm that you can still get a loan from SFE for your paid-for masters/LPC. It's similar to winning a scholarship.

Although, you may wish to consider what the repayment terms will be if you already have loans with SFE. It may be that your repayments become higher as a result of paying off potentially three loans and the repayment rate is anchored on your salary band.

 

[DayamiHahn]

It sounds like you're in a unique situation with your LPC LLM and a training contract. Student finance can be a bit complex, especially with various factors at play.

If you ever find yourself in need of financial advice beyond student loans, like for mortgages or home financing, you might want to reach out to a Mortgage Broker in Redditch. They can provide valuable insights and guidance for your future financial endeavors.

 

[AlexJ]

masters student finance is paid directly to you and is a set amount of about £12k. You only have to be a UK citizen studying in the UK to be eligible afaik as long as your course is a masters course (simple SQE1 &2 prep courses are not). repayments are separate to undergrad loans at an additional 6% on PAYE, so your effective student loan rate becomes 15% and not 9%. Having said that you are likely to pay off the masters element.