New student finance option for those studying law

College students

Those studying law are to be given a new student finance option in the form of a five-year fixed-rate loan for course fees and living expenses.

The offering from BPP and Investec was created in response to feedback on barriers to studying the discipline.

Funding was found to be the biggest thing holding would-be law students back from going to university .

The new loan is available to full-time UK students and is only offered after they have accepted and enrolled on a place on a graduate diploma in law, legal practice course or Bar professional training course at BPP’s eight British sites.

Students can borrow between £1000 and £25,000, with a 9.5 per cent fixed rate of interest over five years.

They will benefit from an 18-month repayment holiday and the arrangement fee will be £250 up front. BPP Law School dean and chief executive Peter Crisp explained that the institution was delighted to be working with Investec. He said: “BPP is committed to supporting students as much as we can, and in addition to our scholarship programme, we are always looking for ways in which we can help train our future lawyers .” Meanwhile, there have been calls for more education about student finance after universities were allowed to raise their tuition fees .