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The College of Law has launched its own student loan scheme in collaboration with NatWest bank.

Under a special deal, students can take out loans currently fixed at 6.25 per cent or variable loans at 0.75 per cent above base rate.

The college, the largest legal training organisation in Europe, made the decision after a survey of 1,000 students revealed that three out of four of them were likely to need access to loans, and 45 per cent of them owed more than Pounds 5,000.