Lloyds’ scheme to give students university chance

Called the Lloyds Scholars programme, the bank is launching a pilot at the University of Sheffield on June 18.

This will be followed by a pilot at the University of Bristol. Each institution has 15 places available.

Lloyds said it will provide students with a complete financial and support package, as well as support for their academic and vocational development. Students are not bound to join the group once their studies have completed.

They will receive an annual bursary payment to help with living costs and study materials and additional annual cash awards will be given based on academic achievement.

Undergraduates can also apply for paid summer internships with Lloyds Banking Group and will get access to Lloyds’ graduate recruitment programme for top scholars.

In return, they will be expected to volunteer a minimum of 100 hours in the local community and actively promote and champion the Lloyds Scholars programme to future generations in schools.

Lloyds’ chief executive Antonio Horta-Osorio said: “By launching Lloyds Scholars we hope to be able to open those doors to students who otherwise might not have had the financial backing required to attend. We are also providing the scholars with hands-on work experience that will put them in good stead for their future careers.”

Universities and Science Minister David Willetts said: “I welcome this innovative scheme, which I hope will prove to be very popular among prospective students.”