Accountants Offer to Pay Students £20,000 to Help Balance Books

Hundreds of students will be paid £20,000 a year to study for a degree under a groundbreaking deal agreed between a top university and one of the country's largest graduate recruiters.

Under the scheme, students will also have all their tuition fees and accommodation costs taken care of. The scheme, which has been agreed between leading management consultants and accountants KPMG and Durham University, is expected to expand.

Under the agreement, 18-year-olds will sign a six-year contract. For the first four years they will split their time between university and the company's London offices, culminating in the award of a BSc in accounting. The students will then be guaranteed two years of work with KPMG – ending up with a salary of £45,000 a year.