Most of the problems students face nowadays are in some way money-related. Managing to afford a social life along with paying for accommodation, finding the cheapest supermarket and trying to fund your summer holidays with some sort of job. For some students, there might be a solution.
I am one of those fortunate enough to be a Lloyds scholar in the baking group’s scholarship programme. The scheme targets students at eight partner institutions, with a household income of under £25,000 who are on a three or four year course.
To get onto the scheme, students must complete a brief online application, a numerical test, and a telephone interview. If you’re successful, you’ll be invited to an assessment centre day. Whilst all of this might sound strenuous, the positives definitely outweigh the negatives.
Lloyds scholars receive a bursary of £1,000 each year, along with a financial incentive of up to another £1,000 at the end of each year for obtaining a first. students who obtain a 2.1 will get an extra £500, so it works well as a method of motivation throughout the year to work hard.
Alongside this, students are able to take part in two 10-week internships over the summer, paying around £3,500 each time. if students do well during the 10 weeks they are offered a place on the Lloyds grad scheme – beating the 125,000 nationwide applicants to an automatic place.
One huge advantage that Lloyds has on other scholarships is that as well as financial benefits, they also offer you a business mentor throughout the whole of your degree. This mentor is usually someone senior at Lloyds and is there to offer advice ranging from CV and application help, to giving networking opportunities to further your career.
Obviously, there is something you have to give back to the programme. Lloyds require students to complete 100 hours worth of volunteering each year, in return for everything they give. This might seem like a lot, but over the course of a year, it works out to be around 3 hours a week and its a great opportunity to get to know the community you’re living in. Some students keep it simple and volunteer at local charity shops, whereas others branch out and hold events and trips.
Making the most of it
After experiencing my first internship this summer, I can honestly say that every aspect of Lloyds is targeted towards benefitting students and preparing them for the ‘real world’. A nine-to-five job throughout the whole of sumer can seem like a depressing concept, but Lloyds pay for accomodation in the city you’re placed in, as well as funding travel costs over a certain limit. There’s a chance to travel to other cities to visit different departments of the company, and your team will listen to your requests to target your internship to what you want it to be.
The universities that Lloyds currently offer the scholarship to are: UCL, Bath, Birmingham, Warwick, Edinburgh, Bristol, Oxford and of course Sheffield.
Would you like to take part in the Lloyds Scholarship Programme? Find out more about the scheme here.
Photo: Alwyn Ladell / Flickr