Thinking about declining my TC due to financial difficulties during the sqe

I was lucky enough to get a TC last year which I accepted. I was put on the sqe programme which I thought it would be fine at first. We’ve now been told that the sqe is a 12 month intensive Masters programme, which is significantly more demanding than the normal preparation course. That is fine, if I can commit all my time to it.

Unfortunately the firm refuses to confirm an uplift of the current maintenance in london, which is 7k. Everyone who lives in london knows that rent is a minimum 1k a month before any bills, 7k for 12 months clearly wouldn’t cover that. Despite their competitors raising it to 20k- the firm hasn’t done that. When I raised tbis to HR, they said I would be entitled to a Masters loan which is why they chose the course. I explained I already had a Masters loan and can’t get a further one. She said that my situation was unique as most of the future trainees are able to get a 12k student finance loan with their 7k trainee loan and get by. I find this really unfair. I got a masters loan because that was the only way I could find a qualifying law degree. And if I have to get a part time job, this means way less time away from my study and a risk I might fail or do bad compared to my peers.

What makes this a dilemma is that the firm have confirmed if I fail any of the exams on first attempt (these have a 50% pass rate), I will not only no longer have a TC at the firm but be forced to pay back the price of the course (14k) fees for the exams registered (5k) and the maintenance loan (7k). To be without a job and in 25k debt is terrifying.

I’ve talked with my family and I am really considering not taking this TC. I feel very let down by w firm I thought was inclusive by not understanding that not everyone’s family can pay for them to live.

Any advice about how to deal with this situation would help.

Reply 1

17Student17

16

I would plough on if i were you. I live in outer London where is much cheaper to rent (although on days you physically go in to study you then have the tube/train fare) but that can save money and you can room share or flat share which is cheaper than renting a whole one bed flat. Also you can get commercial loans for career development which may be necessary in your case. If you work very hard you probably will pass the exams and not be likely to pay back the loan.
Good luck.

Reply 2

Mia000

1

I failed the first time attempt SQE and the one-year study is indeed intense, i am preparing for my second trial and looking for a job right now. 7K for training is terrible but still good if that's a TC. May I have the name of the firm?

Reply 3

xx1t35

OP

14

Original post by 17Student17

I would plough on if i were you. I live in outer London where is much cheaper to rent (although on days you physically go in to study you then have the tube/train fare) but that can save money and you can room share or flat share which is cheaper than renting a whole one bed flat. Also you can get commercial loans for career development which may be necessary in your case. If you work very hard you probably will pass the exams and not be likely to pay back the loan.
Good luck.

A flat in london is average 1k. So 1k a month for 12 months is already 5k over what they are giving me, and that does not include any bills, food, or transport. To ask a student to live off 7k in london for a year is utterly ridiculous

Reply 4

17Student17

16

A room out here where I live in zone 4/5 is about £500 a month (and a shared room £370). It is usually possible to get Saturday jobs as well. However I accept £7k is not very generous. I am not sure if it is so bad it is worth giving up a TC over however as they are like gold dust and a route to qualifying and being on higher pay so even if you have to take out a career development extra loan it may be worth it.

Reply 5

xx1t35

OP

14

Original post by 17Student17

A room out here where I live in zone 4/5 is about £500 a month (and a shared room £370). It is usually possible to get Saturday jobs as well. However I accept £7k is not very generous. I am not sure if it is so bad it is worth giving up a TC over however as they are like gold dust and a route to qualifying and being on higher pay so even if you have to take out a career development extra loan it may be worth it.

I have almost 2 years of paralegal experience meaning I could qualify without it. And the rental market is so bad right now a shared room for 370 is not really a thing anymore, and fees to zone 1 are around 12-15 pound a day and this can add up tremendously. I mean if you have £0 and want to manage off of £7k for 12 months that means you will literally have 580 a month. Even if rent was 370, no way after bills, food and transport would you be able to afford life. Even a Saturday job would only give you an extra 200 a month.

Tbh I’m just angry at the ignorance of firms and I think it shows their lack of diversity. Many peoples parents can help fund them and they just assume everyone can do that

Thinking about declining my TC due to financial difficulties during the sqe

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