Funding your LLM shouldn't put you off considering a particular course or law school, as most institutions want students based on their academic ability and not on their ability to pay for the course.
If you look around, then you should be able to find enough funding from a variety of sources to allow you to pick the perfect course for you.
Here are our top tips about how to fund your LLM program in 2019.
Places to look for funding
Start with your law school and see what funding options are available here. Some institutions consider all of their postgraduate applicants for some sources of funding and others – such as the University of Glasgow – offer a discount or funding to returning students. Check the list of scholarships and bursaries that your law school produces and this will probably be available online. Make sure you read legal publications, such as The Gazette published by The Law Society, where you might find details of other funding options.
There are a load of places to get a loan from for postgraduate study in the UK. Depending on the part of the UK you are resident in, you may be eligible for a government loan for your studies – if you completed your undergraduate law degree in the UK you should be familiar with the system. Otherwise, you can try a career development loan from a high street bank or a loan from a specific student lender like Prodigy Finance. Prodigy Finance is able to offer better rates and more convenient repayment plans as they only lend to students, and in fact it has products specifically for international students studying abroad, as well as the facility to restructure previous students loans, to include your new ones. This is financially advantageous and can reflect your changing circumstances as you move through your career.
Bursaries & Scholarships
There are lots of bursaries and scholarships available and you should apply for everyone you find you are eligible for. Many bursaries – like the Global LLM Study Bursaries – are available for all LLM students to apply for. Some bursaries and scholarships can be used for things like living expenses or they might be transferred directly to your law school for payments for tuition fees. Many scholarships are more specific and might be based on your heritage, background or home nation or on the area of the law that you specialising in.
Working part-time and studying full-time in an LLM year should be considered carefully as you will be in for a year of hard work. What works much better for many students is to work part-time and to study part-time, although this is still a serious undertaking. You will find that it takes at least two years and in some cases up to five years to complete an LLM on a part-time basis. It is important to make sure you have the time and energy to concentrate on your studies if you also have to work, as it would be disappointing if your studies suffered because you needed to earn extra money.
Ideally, you have been gaining valuable experience in the law before you undertake your LLM and have saved up all the funds you need to take a year away from paid employment to complete your LLM. Anything you're able to save up in advance will be of benefit, as you won't be constrained by rules or regulations about how the funding you have found is to be used.
Another lucky funding source is sponsorship, usually by your current or future employer. You might find that you will have to work and study at the same time or work for them for a certain number of years after you complete your LLM.
Average Loans made by the Government in 2017-2018
Please note that the information here does not constitute financial advice. Prodigy Finance is one of many potential funding options for international LLM students. Other student funding options are available and LLMstudy.com advises you to research all your options thoroughly before making such a commitment. LLMstudy.com accepts no responsibility for your choice of loan and does not endorse or support Prodigy Finance. Prodigy Finance Ltd is authorised and regulated by the Financial Conduct Authority, and entered on the Financial Services Register under firm registration number 612713.