SQE Funding Options

In this guide we share the various SQE funding options available.

Preparing for the SQE is a major step for aspiring solicitors in England & Wales. But with exam fees, prep course costs, potential living expenses, and travel expense, one big question looms: how do you fund it?

Here’s a breakdown of available SQE funding options. Each with pros, cons, and considerations.

1. Self Pay (savings/ while you work)

If you have been putting aside some money for the SQE you are very smart and saving is a wise move. Self funding from savings is a straightforward option. You avoid debt and retain full control over your study path. However, this can be a large financial outlay, paying for both SQE1 and SQE2 exams alongside prep courses. It’s important to budget carefully to avoid depleting your emergency savings. An alternative is to work while you self pay.

2. Self pay through loans

Please use loans with caution as interest rates (at the time of writing interest rates are some of the highest). If you have not checked your credit score in a while. Might be worth checking where you stand before you apply.

Below are some considerations to think about before signing for a loan.

Understand repayment terms and conditions
Be wary of high interest loans
Understand if penalties and fee apply

Loans can be broken down into two subcategories; Private and Government loans.

Private Loans

Banks and specialist lenders offer personal and professional development loans. Do your research and shop around. Be sure to understand what the funds can (and cannot) be used for. For example, course tuition, assessments, etc.

Government Loans

If you are in a university program you may be eligible for a government loan. Again be sure to understand what the funds can (and cannot) be used for. For example, course tuition, assessments, etc.

3. Employer sponsorship

Employer sponsoring is highly competitive and sought after. After all, you will need to complete your Qualifying Work Experience (QWE). Many law firms offer to pay for your SQE preparation course and fees to take the SQE. If you are studying and working you’ll be earning a salary but you will need to allocate time to study after spending the day at work (and carve out time during the weekends).

4. Scholarships

Many organizations, including SQE providers offer scholarships based on merit or financial needs. Examples of scholarships include (not a comprehensive list):

BARBRI competition scholarship
The Law Society Diversity Access Scheme
College of Legal Practice Scholarships
City of London Law Society Social Welfare Solicitors Qualification Fund

5. Payment Plans

Many SQE course providers provide payment plans. This might make the cost of taking an SQE prep course more manageable by splitting the cost over a period of months. While this is very helpful, please check if a one time fee or interest rate applies.

6. Legal Apprenticeships

Apprenticeships hold a special place in my heart as I started my career with an engineering apprenticeship. Apprenticeships allow you to earn while you learn. Training costs are covered by the employer (and the government provides subsidies to the employer).

7. Final Thoughts

There’s no one-size-fits-all approach. You know your situation best. Whether you’re self-funding or looking for external support, understanding your options can make the journey to qualification more manageable and less stressful. Take the time to explore what’s available and choose the route that aligns with your financial situation and career path. Check out our top resources for aspiring solicitors for other resources.

Understanding all your options will help you make an informed decision and set yourself up for success in your legal career.

The Be an adult section

This NOT legal, financial, or investment advice. Please consult a licensed professional before taking out debt.

SQE Funding Options