A UK University has launched a “market-changing” initiative for out-of-work law graduates – offering cash pay-outs to those who fail to secure a job in the profession following their studies.

The University of Law (ULaw) has said that it will refund graduates up to half of their tuition fees if they are unable to find full time employment in the legal profession within nine months after graduating.

So far, the initiative only applies to ten-month Legal Practice Courses (LPCs), which typically cost up to £15,200 in tuition fees.

This means that LPC graduates could be entitled to up to £7,600 if their course fails to land them in a legal career.

“We were the first university to offer a money back employment promise, and, this year, we are backing our students with an even bigger commitment with this new initiative,” said Dr Stelios Platis, ULaw CEO and managing director.

“Students are at the heart of everything we do,” he added.

ULaw, which operates nine centres across the UK, has also said that it will offer a half-price discount to law students who are interested in pursuing a postgraduate course.