Financial Planning

Costs of training

The total cost of qualifying as a barrister is quite considerable, and prospective entrants to the profession are advised to investigate potential sources of funding available at each stage of qualification.

Students who have not obtained a qualifying law degree will need to complete a CPE/GDL. Course fees can range from £1,085 - £5,900, and the cost of living will also have to be considered. Students with overseas or non-standard academic stage qualifications will need a Certificate of Academic Standing (£80) from the Bar Council to confirm eligibility to commence a CPE/Diploma course.

Fees for the Bar Vocational Course (BVC) are approximately £7000-£12,000 depending on location. All students are required to join an Inn of Court by 30th June at the latest in the year of commencing the BVC. Average admission fees are £85 and the Call to the Bar fee will be approximately £80.

Pupillage awards vary considerably, although all pupillages now have to be funded to a minimum of £5,000 per six months plus reasonable travel expenses. Pupils will also need a wig and gown which will cost in the region of £550.00. Again there will be living costs to consider. All in all, qualifying as a barrister is a very expensive process and the big question is, where is the money to come from?

Local Authority Grants

Your Local authority will issue a leaflet or booklet detailing mandatory and discretionary award policies. This will also include reference to courses which the authority will consider suitable for the purpose of financial support.

The CPE, Post Graduate Diploma in Law and Bar Vocational Qualification fall into the category of discretionary awards, which means that the authority will decide, using a series of criteria established by the officers and elected members, whether an individual will qualify for an award. Discretionary funds, although available, are very limited and you should apply immediately after the first date published for the receipt of applications. The policies authorities adopt towards making discretionary grants vary from one authority to another and from one year to another, according to the financial resources and policies of paying authorities. Grants, when available, cover only the vocational stage of training and to a very limited extent the CPE/Diploma course. They do not extend to the 12 months pupillage which is compulsory for those intending to practise.

Chambers' Pupillage Awards and Guaranteed Earnings

All pupillages must now be funded to a minimum level of £5,000 in the first six months, and £5,000 (by way of guaranteed receipts or award) during the second six months. Details of all pupillages and awards can be found on the Pupillage Website. It is accompanied by the Pupillages and Awards Handbook, which can be obtained if you send an A4 self addressed envelope with the correct value of postage stamps attached.

Bar Council Scholarship Trust

The trust offers financial assistance for pupillage by means of interest-free loans up to a maximum of £5,000. Please contact Brian Buck, the Bar Council's Chief Accountant, for further details.

Please note that an application cannot be made to the Trust if your pupillage is already funded to the Bar Council minimum.

Inns of Court Scholarships

Given the problems with discretionary awards from LEA's, most students have to look elsewhere for funding for the CPE/Diploma and BVC. The Inns provide a great deal of valuable financial assistance to their students - for the 2003/04 year over £3.3 million was available in total.

Awards fall into the cagtegories of CPE, BVC, Pupillage and Other. Note that all Inns have common deadlines for CPE and BVC scholarships which are shown below, but it is worth enquiring at an early stage to check the deadlines have not changed.

CPE - apply by last Friday in May of the year you are due to start your CPE

BVC - apply by the first Friday in November before you start the BVC (ie near start of BVCOnline application period).

In addition to the above awards, all Inns also make awards to cover admissions and Call fees.

Applications can only be made to one Inn, and those applying must be a member of that Inn. Note that the Inns do share information on membership to ensure there are no dual or multiple applications. The full terms and conditions can be obtained from the Students' Officers of the Inns. Recipients of awards will be expected to repay them if they do not proceed to the Bar. See the Inns' websites for full details including the application form. the statistics page of this website also has a table of awards offered by the Inns in 2003/04.

Bar Loans Scheme

Click here for details of the Bar Loans Scheme with HSBC.

Bank Loans for Professional Studies

Other major high street banks are another source of finance for those considering a career at the Bar. A number of these banks offer special schemes for the BVC/pupillage years, with lower interest rates than normal and delayed repayment arrangements. Students may wish to contact the following banks;NatWest - Professional Studies LoanLloyds TSB - Professional Studies LoanBarclays - Professional Studies Package/Law School LoanRoyal Bank of Scotland - The Law Student Loan Scheme.

The Education and Training Department has an information guide on sources of finance available including more detail of bank loans. Our Careers and Information Assistant has and information Guide on sources of finance. For more information contact Marisa Booker.

Further information and assistance

The support4learning website contains a wealth of links to organisations offering grants, awards and bursaries.