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FINANCE

There is no easy way to say it: education isn’t cheap!

We’ve put together some ideas to help take some of the pain out of your planning and let you know we’re with you every step of the way.

Ready for study but short on cash?

F isn’t just for Finance

F also stands for fundraising. If you’re not fortunate enough to be related to a generous millionaire uncle, fundraising is essential. Although you may be eligible for some support from educational authorities, you will need to make up the shortfall.

Local church hero

It may be obvious, but you might want to ask your church to sponsor you. A church is always proud to see one of its number go off and train for ministry or mission work. You could ask them to contribute to fees, or you could try asking some individuals or couples in your church for a regular monthly ‘living gift’ to buy things like books, toiletries and clothes. At the end of the day every little helps. Your denomination might also be prepared to help. Or if you have been working for a mission organisation or charity, why not ask them to sponsor you? You might be pleasantly surprised.

Some general pointers about grants and awards for UK & EU students

Outside church and friends there other ways you can find the resources for studying. For instance, you can apply to your local education authority for financial assessment of student support/loans. But be sure to ask about any other allowances you might be eligible for, such as extra weeks’ attendance, disabled students, dependants allowance. Although the LEA won’t pay for all your fees as we’re an independent School, they will make a contribution to tuition fees from a grant. In short, if you don’t ask, you don’t get. For more info about grants and awards visit the SFE website (Student Finance England) at www.direct.gov.uk/studentfinance

Then there are Trusts…

Go into any good library and you’ll find the Directory of Grant Making Trusts: 2007-2008 (ISBN 190399179X). Admittedly it takes a little time to go through all the relevant trusts, but you could strike gold. Once you’ve identified some hopeful names, write to them giving them a summary of your background, present studies, future hopes and financial needs. And remember to point out the relevance of your application. Get hold of the UK Christian Handbook. Your pastor or vicar should have one. This also holds a list of some pretty useful names.

Stewardship Account

Some Bible College students may be eligible to receive grants from Stewardship. If UK tax-paying supporters give to Stewardship, they can request Stewardship make a grant in support of a Bible College student. Grants are subject to Stewardship's discretion and gifts from close relatives are excluded from the scheme. For more information see www.stewardship.org.uk.

Part-time work

Depending on your course, you might be able to fit in some part-time work or use your vacation time to earn some extra money. Of course, the answer might be not to attend a full-time course at all, but do it part-time. That way you could spread the cost.

Will you qualify for benefits?

As a student, you and your family might be eligible for benefits once you are here. Ask your local Department of Social Security office or Citizens Advice Bureau and then you can factor in the extra income.

Last, but not least…

School Bursary Funds

If you’ve tried all the above suggestions but got nowhere, don’t despair. Talk to the Bursar’s office on 01923 456200 about School Bursary Funds. The Bursary Committee meets termly. For Research Students, there is also the possibility for a Laing Scholarship award. The closing date for scholarships is 1 May each year.

Some financial nitty gritty

When your church, organisation or other individuals pay in a cheque direct to us, make sure it’s made payable to ‘London School of Theology’ and marked for your fees. Alternatively, they can set up a standing order to pay fees through your bank/building society. Our accounts department will be more than happy to give you our bank account details.

We can also benefit from UK tax paying givers if they join our Gift Aid scheme. This allows us to claim nearly a third back from the Chancellor of Exchequer which, in turn, helps us keep the overall cost of the courses down to a reasonable level.

So as you can hopefully see, it’s not such a daunting picture. It just requires some careful consideration and a bit of form filling. But if God wants you here, you’ll get here. Meanwhile, if we can help you any further, we’re all too willing to help – ready to resource you for life.

Click here for fee sheets.

Related Information

Admissions

International Students