Student Finance during Placement Year

What's available to me during my placement year?

This depends on where you're based in the UK. There are different branches of Student Finance across the UK that set their own rules, so not all loans are the same. Below, you'll find the 2026-2027 yearly maintenance loan available for students during their placement year.

If you’re doing your placement year abroad, you should check with student finance directly.

Read below to find out more:

Student Finance England

You'll get a reduced rate and the amount you get will also depend on how long your placement lasts and if you're living at home or away from home.

• Students living at home - £2,461

• Students living away from home - £3,281

• Students living away from home (London) - £4,607

Student Finance Scotland

You’ll qualify for the same level of student maintenance loan as normal, regardless of whether your placement is full or part-time.

Maintenance loans are means-tested (household income) and are up to £11,400 for young students and independent students.

Find out more about what you're entitled to.

Student Finance Wales

If you're from Wales and funded through Student Finance Wales, your maintenance loan will be reduced during your placement year. The exact amount depends on your household income and circumstances, so the best thing to do is check directly with Student Finance Wales or use their online calculator to see what you'd get.

If your placement's abroad, you could also apply for a travel grant to help cover travel and visa costs. You'll need to cover the first £303 yourself (or £1,000 if household income is over £59,200), but anything above that can be claimed back, so hold on to those receipts.

Scholarships

If you normally receive scholarship or bursary money through your university, you’ll keep receiving this. It’s worth confirming, too.

Some scholarships can be used as a tuition fee waiver for your placement year. If you receive any special support, it’s worth confirming this directly with the provider.

Type B Placements

Some of you might be doing unpaid placements, also known as Type B placements. In that case, the amount of loan you’ll receive might be a lot higher. Type B placements are usually unpaid services in the following:

• Hospital or public service laboratory

• Local authority as relates to child health or welfare

• Prison, probation and aftercare services

• Public health functions

• Special Health Authority, NHS Committee Board

• UK Parliament.

It might also be worth speaking to your university financial services to see if they also offer any help for students on placement.

Do I still need to pay tuition fees?

You do indeed. Even though you won’t attend university or classes, a placement year is still very much considered part of your studies. However, the fees you pay will be a lot less.

For the academic year 2026-2027, tuition fees during placement can go up to £1,905 for home and EU students. It's also worth checking out your relevant student loan website for more information.

If you're an international student, your placement year fee is set by your university, so check directly with them. It'll be significantly lower than your standard year, but it varies.

Attending university for more than 10 weeks? You might need to pay the full tuition fee.

How do I apply for student finance for my placement year?

The great thing is, you don’t need to do anything out of the usual when applying for placement year student finance.

All you need to do is apply as normal. You’ll have the option to let Student Finance know that you’ll be on a placement year in the early stages of your application. And the clever people at Student Finance will work everything out.

If you’re doing a Type B placement, you’ll need to give Student Finance proof of this.

Make sure to start your application before your placement begins.

Budgeting during your placement year

So now you know what's available, how do you actually make it work?

Start with your salary. Most placements (including every one on Higherin) are paid, but it's worth knowing that some aren't. If yours is unpaid, your maintenance loan becomes even more important to manage carefully.

If you're earning £25,000 a year on your placement, you'll take home around £1,730 a month after tax and National Insurance. It's worth calculating your actual take-home pay before you start budgeting. You'll find loads of take-home pay calculators online.

Living away from home? You'll spend a lot of that on rent and bills. Especially if you aren’t living in student accommodation and living alone. But the good news is that most placement students find they can cover their costs on their salary alone, which means your maintenance loan can be used for savings or emergency money.