Financial advice for placement students

Read useful advice about fees and your finances whilst on placement.

Tuition fees and loans

Students on placements in 2024/25

Tuition fees for students on Professional Training (work placement) in 2024/25 are currently £1,850. 

If you are studying abroad for the full year in your Professional Training placement then the tuition fees will be £1,385 in 2024/25.

View the Student Fee and Debt Management Policy (PDF) for further information.

Student loans

You need to complete the relevant student support application before you begin your placement. We recommend students to take out a Maintenance Loan, as applicants to the placement fund must first have taken out a student loan or have proof of ineligibility. The Maintenance Loan can always be used as a back-up or for emergencies during your final year.

Home students:

  • If you work in the UK, you will receive a reduced maintenance loan.
  • If you work outside of the EU/EEA and are paid, then the same rules as in the UK apply. You are only entitled to the higher loan if you are doing an unpaid research placement in an overseas higher education institution.
Student loans if you are on an unpaid placement

As the Professional Training placement is an integral part of the higher education programme, the national minimum wage does not apply and therefore placements can be unpaid.

On programmes where unpaid placements are the norm, you may still be eligible to apply for a full student loan if your placement is with one of the following types of organisation:

  • A hospital, public health service laboratory or clinical commissioning group in the UK
  • A local authority in work that relates to the care of children and young persons in the UK
  • A local authority in work that relates to public health functions in the UK
  • A prison or probation and aftercare service in the UK
  • A UK institution or, in the case of a student attending an overseas institution, as a part of their UK course
  • A Special Health Authority, the NHS Commissioning Board, the National Institute for Care and Excellence, the Health and Social Care Information Centre, or Health Board in the UK
  • In the UK Parliament.

Tax and National Insurance

Personal tax

Students on international placements are advised to seek local advice about the requirements for filing tax returns and paying tax (including any local municipal taxes) in the location where they are working.

If you have any questions, call the official Tax Helpline: +44 (0)300 200 3300

For more information, visit the gov.uk website.

National Insurance

You need a National Insurance (NI) number to be able to work within the UK. If you do need to pay NI, the contribution rate is 13.25 per cent.

Contact the HMRC to apply for a National Insurance number: +44 (0)800 141 2075.

For more information, visit the gov.uk website.

Managing your money

Bank accounts
  • Switch to online banking
  • Keep your bank informed of your address
  • Keep track of your money
  • Keep dated copies of all correspondence
  • Be aware: there may need to be a minimum number of transactions in your student account or your bank may ‘call in’ your overdraft facility
  • Inform your bank if your placement will be abroad.
Council Tax

You are still regarded as a student and therefore exempt from Council Tax. However, if there is one or more non-student(s) in your residence, you will be liable for Council Tax.

Find out more information on Council Tax.

Top tips

Don’t rely on credit cards as it may be difficult to maintain card payments in your final year.

Use all discounts available to you, as you still classify as a student while on placement.

Set up a regular standing order to a savings account to help you save money for your final year.