Metro Bank, the revolutionary high street bank, has announced the launch of its new Professional Studies Loan Scheme to provide financial support for post-graduate study. The new scheme will initially be available to students at The University of Law (ULaw) exclusively, and has been designed to fund course fees and help with living costs.
Students can borrow between £1,000 and £25,000 to cover all or part of their course fees while an additional 20 per cent can be used towards living expenses, subject to a maximum total loan amount of £25,000, with no early repayment charges. Students can defer repayments until up to six months after they have finished their studies (providing they do not take a study gap between courses) and have up to five years to repay from the repayment start date.
Craig Donaldson, Chief Executive, Metro Bank commented:
"This is an exciting development for Metro Bank and demonstrates our commitment to broadening our offering to suit customers' needs. We're proud to be working with The University of Law as our launch partner for the new loan, and hope to support many budding lawyers through the scheme. Metro Bank is a community bank focused on offering the best in service and convenience, and we hope to be able to work in partnership with other educational institutions to offer the Professional Studies Loan in the future."
John Latham, Provost and CEO at The University of Law said:
"Metro Bank is a modern pioneer in retail banking and we're pleased to be partnering with a business that shares our values for innovation and forward thinking. Being able to offer Metro Bank's Professional Studies Loan Scheme allows the University to continue to attract the best talent from a diverse range of backgrounds.
"As the UK's leading law school, we recognise that it's not always easy to find the financial support needed to study. This Metro Bank scheme underlines our commitment to provide students with the best opportunities to enter the legal services sector."
The loan is available to students at any of ULaw's eight centres for those studying full-time, part-time and online. Courses included are the Graduate Diploma in Law (GDL), LL.M Legal Practice Course (LL.M LPC) and the Bar Professional Training Course (BPTC).