Lloyd's eases the financial burden for university students

Lloyd's has launched a new university bursary scheme to help students in Tower Hamlets afford to continue their higher education.

Three successful students at Cambridge Heath Sixth Form College will receive £3,000 per year to go to university as a result of this new programme. The university bursary scheme will be supported by the charitable fund which was set up in memory of Cuthbert Heath, the renowned Lloyd's underwriter.

The cost of going to university is a barrier for many students, particularly those from more deprived areas. The bursaries are being given to encourage students to consider applying to universities outside London who would otherwise stay at home because of living expenses.

Rebecca Coker-Adeleke, Director, Cambridge Heath Sixth Form, said: "This is an amazing opportunity for our students. We have pupils who are incredibly excited about the prospect of going to university, however many are daunted by the prospect of university fees. The added burden of consideration of living costs outside of home makes the prospect of applying outside of London a barrier too great to overcome.

"We are so pleased to have been chosen to be involved in this programme. I cannot begin to describe to you what a difference this will make to our students."

Mike Tyler, Tower Hamlets Education Business Partnership, said: "Each year some 20% of Tower Hamlets students leave Sixth Forms for University - some 600 students. Over 500 choose to study at London based Universities, living at home to minimise costs. The Lloyd's bursary programme will give students the important option of considering Universities outside London, widening choice and helping them develop the social and life skills gained from leading independent lives away from home."

Candidates will be nominated by staff and students at the college and will then go through an interview process speaking to representatives of Lloyd's Community Programme, Tower Hamlets Education Business Partnership and Cambridge Heath College.

The university bursary scheme will run alongside a new 'Developing Skills for University' programme which Lloyd's Community Programme has recently started at Cambridge Heath Sixth Form College. This programme has so far seen 30 students from the college matched with mentors from Beazley, Capita, Catlin, Lloyd's Corporation and Talbot.