Doing a placement year can be a great opportunity, but it can also change how your funding works. You’ll still have costs to think about, so it’s important to understand what support is available.

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Do I still pay tuition fees on placement?

Yes. You’ll still need to pay tuition fees, but they’re usually lower than your standard year fees. You can check current placement year tuition fees on the University’s website.  

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Can I get a tuition fee loan?

Yes. You can apply for a Tuition Fee Loan through Student Finance in the usual way. Find out more and apply on Student Finance’s website.  

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What happens to my maintenance loan?

During a placement year, most students receive a reduced-rate maintenance loan. This:

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• is usually lower than in a standard study year  

• is paid in instalments across the year  

• is not based on household income.  

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You can check the latest rates on the Student Finance website.

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Can I get extra funding for an unpaid placement?

Possibly. If your placement is unpaid and meets certain criteria, you may be eligible for full student finance support or additional grants. This usually applies to placements like:

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• healthcare or public health roles  

• local authority or social care work  

• charities or similar organisations  

• research roles  

• roles within government or public services.  

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You can check if your placement qualifies through Student Finance guidance.

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Can I claim benefits during a placement year?

It depends on your situation. Some students on paid placements may be eligible for Universal Credit. In some cases, you may be able to continue receiving Working Tax Credits (if already claiming).

It’s best to check your eligibility with Turn2us or Citizens Advice.  

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What if I have children or dependants? ‍

Support is more limited during a placement year. You’re not usually eligible for dependant grants unless your placement counts as an approved unpaid service (see above). However, you may still be able to access the childcare element of Universal Credit. It’s best to check your eligibility with Turn2us or Citizens Advice.  

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Can I get Disabled Students’ Allowance (DSA)?

Usually, DSA isn’t available during placement years. Because of this, it’s important to make sure you have any equipment or support in place before your placement starts. You may be able to apply for Access to Work support (through your employer).  

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Do I need to pay Council Tax?

No. Even during your placement year you are still classed as a full-time student and should still be exempt from Council Tax. We recommend you double-check with your local authority.

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Do I have to pay tax on placement earnings?

If your placement is paid, you may need to pay income tax depending on how much you earn. Check current thresholds and rules on the Government’s website. Some placements may pay a bursary or stipend which may be tax-free.

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What should I budget for?

‍Before starting your placement, it’s worth thinking about:

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• how much funding you’ll receive  

• whether your placement is paid or unpaid  

• your living costs during the year  

• whether you might need extra support.  

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Can the Guild help me?

Placement years can feel a bit confusing financially, but you don’t have to figure it out on your own. We can:

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• talk through your funding  

• help you understand your options  

• support you if money is a concern.  

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Email advice@exeterguild.com or complete our enquiry form.

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