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Barclays offering graduates £550 to fund costs for attending interviews

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Barclays bank has launched a new £20,000 graduate fund to support this year’s universtity leavers in their job search.

Any 2018 graduate from the UK is eligible to apply for up to £550 from the fund - this sum is apparently the average cost of attending four graduate job interviews.

The money must go towards either interview clothing, travel to and from the interview, overnight accommodation, training and development, or equipment that will allow a graduate to upskill.

Applications have been open since October 8 and will close on October 19 at 6pm.

Amazingly, graduates do not need to pay the money back, and there are no hidden costs or interest to pay.

The requirements simply state you need to have graduated in 2018 and in order to receive the money must complete a form explaining why exactly you need funding and provide proof you have an interview(s).

Josie Clapham, Barclays’ Community Banking Managing Director, explained the fund’s launch: “Graduating from university and starting your first job should be a really exciting time, but the associated costs can be daunting for many; particularly when those finishing their studies in 2018 are estimated to have accumulated over £50,000 of debt.”

She further explained that the company wanted graduates to focus on their job search rather than worrying about whether they could afford to attend an interview.

It's not always easy when it comes to grabbing your first grad job and interviews can be expensive. 

Research by the bank showed that 54% of graduates have had no choice but to decline a job interview, due to the costs of getting there. While 48% have resorted to using an overdraft, a credit card or money from close-ones just to fund their job hunt.

Barclay's also found that 3 in 5 employers do not provide financial help for the basic costs of an interview such as travel and accommodation. 

Want to apply? To find out more about the fund, and to apply, click here.

 

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