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Posted Oct. 15, 2019

Ingenious Ways To Fund Your LLM

Ingenious fundingEven after you’ve exhausted the lists of scholarships and bursaries, sifted through the government funding available to you and searched through your savings for any extra pennies, you will almost certainly still be looking for a few ingenious ways to fund your LLM tuition fees and costs.  So let’s take a look at some funding options available to you.

Sell On eBay

Clear out those cupboards, sort through your drawers and clean up the garage. We’ve all got sports gear that we just never use, snowboards bought after a single session on a snowy mountain top or wetsuits to wear when we planned to start going winter wild swimming after enjoying one weekend in Newquay. Not to mention the designer clothes we’ve picked up in the sales but never worn. Well eBay is one place to sell your stuff, and there are plenty of other online market places out there for you to use. So declutter your house and clear out your cupboards, you might just make some decent money to help you pay for that LLM year.

Company Sponsorship

Maybe you’re a lucky person who already works in the legal field that you want to specialise in. If you are and you’re considering studying an LLM program then you should approach your employer and explain to them that it’s a way of gaining extra knowledge and skills will help them in the future as well as you. Funding some or all of your tuition fees might be an option for your employer or a potential future employer if it’s in the right area of expertise.

Crowdfunding

Here’s a slightly more unusual option for you; think like a tech start-up and get crowdfunding! Maybe you have plenty of wealthy connections that would be delighted to help you out with your LLM course fees, and a great way to ask without contacting them directly and putting them on the spot is to put your crowdfunding attempts up on social media. You’ll need to write some brilliant and convincing descriptions of why you need crowdfunding to draw people to give you a little money, but it’s a great experience for working life once you’ve financed and finished your LLM.

Share Accommodation

If you own your own home or flat and have some spare room, then maybe you could share it, as a lodger is a great way to make a little extra money. Or maybe you should go back to sharing rented accommodation instead of having your own space the whole time. Besides saving (or making) money, it will give you some friends to chill out with when you’re not studying.

Save The Environment

Think about your lifestyle, are there a few ways you can help the environment and save yourself some money too. Do you really need your car? Or could you sell it or just keep it off road for the duration of the course? Where do you need to commute to and can you travel there using other transport methods instead?

Private Loans

Prodigy FinanceMany LLM students need to borrow money in order to fund their Master of Laws and there are different options for private loans for students. It’s a good idea to go for a company that specialises in private loans specifically for students, like Prodigy Finance. Prodigy Finance tailor makes each loan for the student in question and adjusts the loan conditions as and when the student’s lifestyle or needs change. For example, if you move to continue your studies or if your study plans change. Because Prodigy Finance only deals with students, they offer better rates and conditions than other financial institutions – and have a better understanding of the financial demands and limitations on students.

How Students Fund Studies

Here’s a table illustrating some of the different ways that students fund their studies.

LLM Funding
Source

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.

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