Sponsorship funding schemes
Could your company help finance your studies at London Business School?
Students at London Business School are often sponsored, fully or in part, by their employers. Company sponsorship is an investment in high-potential individuals, designed to develop their existing skill sets, and enhance their abilities. It's an arrangement from which everyone benefits.
Note: there are only a limited number of scholarships available to part-time students who are in full-time employment.
To apply for sponsorship from your company, you'll usually need to draw up a detailed business case outlining your reasons for wanting to do the course and the benefits that you feel it will bring both you and the company. See advice on creating a business case for company sponsorship.
Related financing options include:
- Salary sacrifice scheme
- Scholarship and Vocational Education (SAVE) schemes.
Salary Sacrifice scheme
What is it? You enter into a contract with the employer that can save both parties some costs. The School has no direct involvement.
How it works The employer pays full or part tuition on your behalf directly to the school, or reimburses you through expenses. You then come to an agreement with the employer that they either pay upfront and you sacrifice your salary over a period of time, or you can set up the agreement in advance to build up a bank of credit to be used towards tuition once you start a course.
Benefits You the student save on paying any tax or National Insurance on this sacrificed amount. Your employer saves on paying National Insurance on this part of your salary.
Next steps Talk to your employer. For more information, you can also email richard.maitland@kpmg.co.uk (note: the employer may incur a charge for KPMG's services).
Scholarship and Vocational Education (SAVE) Scheme
What is it? A scheme you as a student can arrange with your current or prospective employer, SAVE combines the tax exemptions which exist for scholarship payments and the exempt benefit applicable to work-related training provided by employers. The School has no direct involvement.
How does it work? Employers can finance training costs for their current or prospective employees through a salary or bonus sacrifice.
Benefits Costs related to study, travel, accommodation and subsistence can be paid free of tax and NIC.
Next steps Talk to your employer. For more information, you can also email richard.maitland@kpmg.co.uk (note: the employer may incur a charge for KPMG's services).