Loughborough University
Leicestershire, UK
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Loughborough University

Student Advice and Support Service

Finance

Undergraduate Placements and Study Abroad 22/23

If you are an undergraduate considering a year in industry or studying abroad as part of your course, the information below outlines the Student Finance England funding you may be eligible to receive. Information provided here applies to Student Finance England UK Undergraduate students.

Figures for 22/23 awaiting government confirmation at time of writing, 21/22 figures are quoted here.

Outgoing exchange students – more information about the University’s exchange and study abroad can be found here can be found at  https://www.lboro.ac.uk/study/overseas-exchange/outgoing/

Students from Wales, Northern Ireland and Scotland should check with their student finance provider for their maintenance loan figures:

Tuition fees and Tuition fee loans for placement years

The amount of tuition fees for UK students on placement years and study abroad depend on the type of placement/study you are undertaking.

UK students can generally borrow a tuition fee loan to cover the full cost.

  • Industrial placement year based in the UK or abroad £1,850
  • Year in Enterprise £1,850
  • Year of study abroad £1,385 if your year is specified as study abroad, includes a Turing exchange
  • Year made up of 6 months placement and 6 months study abroad £1,385
  • Independent work placement during leave of absence - no tuition fee payable (but no formal qualification in recognition of year of work)

The international student tuition fees for placement years can be found through the following link: https://www.lboro.ac.uk/students/finance/international/fees/

Maintenance loan eligibility for paid work placements

You can apply for a maintenance loan to help you with your living costs via your student finance provider.  You will not have to be means-tested for this loan. 

The amount you can receive depends on where you are living during the placement. The exception to this is London placements; the London rate is payable only when your placement is within the London Metropolitan area, rather than where you are living. Note that if you are living at your family home in London you receive the family home rate not the London rate

2021 - 22 figures

  • If you live at your family home: £2,155
  • If you live away from home, including a placement abroad: £2,874
  • If your placement is in London: £4,035

Maintenance Grants and Loughborough University Bursaries are not available for a placement year. It is important that you work out if you can live on the money available before accepting a placement. SASS has resources on our webpage to help you do this - https://www.lboro.ac.uk/services/sass/finance/managing-money/

Maintenance loan eligibility for unpaid work placements

Some types of unpaid placements are treated as if they are a normal year of study for student finance purposes, so you continue to get student loans. These include placements based in:

  • a hospital, Public Health Service Laboratory or a Primary Care Trust
  • a Health Authority, Strategic Health Authority, Local Health Board, Special Health Board or a Health and Social Services Board
  • a Local Authority carrying out its duties relating to health, welfare or caring for children and young people, a voluntary organisation providing facilities or carrying out similar activities
  • the prison or probation sector or after-care services
  • unpaid research in a UK or overseas institution
  • the Houses of Parliament

Other unpaid work placements receive the reduced rates of tuition fee and maintenance loans as if they were a paid placement (see “Maintenance loan eligibility for paid work placements / Year in industry” above).

Loughborough University Bursary entitlement

a)    Loughborough University Bursary

Loughborough University Bursaries are not available for placement years although there may be the possibility for some students of a fee waiver (reduction) in the placement fee amount charged. For further details, view the University’s webpage below.

https://www.lboro.ac.uk/study/undergraduate/fees-funding/scholarships/loughborough-university-bursary/ 

b)     Loughborough Bursary for Unpaid Placements (LBUP)

Loughborough University offers a limited number of bursaries for low income students on all types of unpaid placements. The details for the 22/23 scheme will be available on the Careers Network web pages. 

Contact careersprojects@lboro.ac.uk  if you think you may be eligible for the scheme,

If you are considering taking an unpaid placement, it is important that you work out if you can live on the money you have available before you accept the placement. SASS has resources on our webpage to help you do this - https://www.lboro.ac.uk/services/sass/finance/managing-money/

Whilst on placement…

  • You won’t normally have to pay council tax as you will still be considered a student for council tax purposes.
  • You can download a Council Tax certificate to confirm your student status to the local council where you are living whilst on placement.  Visit the Self Service Portal https://www.lboro.ac.uk/students/enquiries/letters/
  • If you’re on a paid placement, your salary will be subject to tax and national insurance as it would for any type of paid employment. Check that you are not on an emergency tax code (it might appear as BR, W1, M1 on your payslip). If you see this code on your payslip talk to your employer.  For more information see the Tax Guide for Students.You can claim a refund for overpaid tax at the end of the financial year (April).
  • When you travel outside the United Kingdom on University approved work placements, you will have access to the University’s travel insurance and medical cover, which is administered by Drum Cussac.  It is, however, recommended that you acquire your own personal insurance which supplements the provision. It is important to read and understand the insurance requirements and cover provided by the University’s insurance  see - Travel advice for overseas placements.

Independent ‘placements’ during a Leave of Absence (LOA) year

If you take LOA to gain work experience that does not count as an assessed placement:

  • Tuition fees are not payable.
    • Student funding is not available as you are not attending your course.
    • You won’t normally have to pay council tax as you will still be considered a student for council tax purposes.
    • The University’s Hardship Fund may help students in unexpected financial hardship. You need to plan your budget carefully. SASS has resources on our webpage to help you do this - https://www.lboro.ac.uk/services/sass/finance/managing-money/
    • You will not receive the full range of support from the University available to students on an approved placement year. You will not be covered by the University’s insurance.

Turing exchanges – study and work

  • Turing has replaced ERASMUS + following the UK’s departure from the EU. The Turing scheme is not limited to European countries it is a global scheme. You may still see information relating to ERASMUS+. For most purposes the Turing scheme details are the same as those that were in place for ERASMUS+  except of course that it is worldwide.
  • For your student finance assessment, if you are abroad under the Turing scheme you are treated as if you are in a year of study, regardless of whether your exchange is a work or study exchange.
  • Student Loans (and in some cases grants) are paid as if you are on a year of ordinary study but at a higher, overseas rate  - see table under the ‘Study Abroad’ heading.
  • Loughborough Scholarship Programme bursaries and LBUP are not normally paid for Turing or study exchange years.

Study and work abroad Turing grants (2021/22 rates)

 

High cost of living countries

Denmark, Finland, Iceland, Ireland, Liechtenstein, Luxembourg, Norway, Sweden

Medium/lower cost of living countries

Austria, Belgium, Bulgaria, Croatia, Cyprus, Czech Republic, Estonia, France, Germany, Greece, Hungary, Italy, Latvia, Lithuania, Malta, The Netherlands, Poland, Portugal, Romania, Slovakia, Slovenia, Spain, Turkey, former Yugoslav Republic of Macedonia

Monthly supplement for students from disadvantaged backgrounds

 

Disadvantaged students are defined broadly as those with an annual household income of £25,000 or less.

Study or Work Abroad

£380 per month

£335 per month

£110 per month

Study Abroad

  • If you are spending a year of your course at a university outside the UK you will normally be entitled to a higher rate of student maintenance loan, between £700 and £1,330 extra for the year depending on your income assessment.

Table of student maintenance loan rates for indicative levels of household income –

Household Income

Non-Final Year
Maintenance Loan 

Final Year
Maintenance Loan 

£25,000

£10,866

£9,726

£35,000

£9,494

£8,354

£45,000

£8,122

£6,982

£55,000

£6,750

£5,610

£62,631 or higher

     -

£4,564

£65,919 or higher

£5,253

     -

  • The tuition fee is set at £1,385 for a full year of study abroad.
  • You may be able to apply for a travel grant from Student Finance subject to household income assessment.
  • If your study abroad starts before the normal UK academic year it may be possible for your student loan to be paid earlier. To request this, email studentenquiries@lboro.ac.uk with details of your study abroad. You should include where you are going, your study abroad semester dates and details of the financial commitments you will have before October. Student Enquiries can forward your request to Student Finance for consideration.
  • The University’s Hardship Fund may help students in unexpected financial hardship. You need to plan your budget carefully.SASS has resources on our webpage to help you do this - https://www.lboro.ac.uk/services/sass/finance/managing-money/
  • When you travel outside the United Kingdom on University approved international study exchanges you will have access to the University’s travel insurance and medical cover, which is administered by Drum Cussac.  It is, however, recommended that you acquire your own personal insurance which supplements the provision. See the University’s insurance information for students going on a year abroad https://www.lboro.ac.uk/study/overseas-exchange/outgoing/before-you-leave/insurance/
  • Health care costs - GHIC card - If you are planning to study in an EU/EEA country, you can apply for a Student GHIC, before you leave the UK. You can use your card to access medically necessary state-provided healthcare when you're visiting an EU/EEA country. See     https://www.nhs.uk/using-the-nhs/healthcare-abroad/apply-for-a-free-uk-global-health-insurance-card-ghic/ - scroll down to the student section.
  • Outgoing exchange students – more information about the University’s exchange and study abroad can be found here can be found at  https://www.lboro.ac.uk/study/overseas-exchange/outgoing/

Bursaries

Loughborough University Bursary (LUB)

The LUB is not available for study abroad years.

Bursaries for study abroad ‘Widening Participation Bursaries’

The University has a limited number of bursaries available for students, who are selected to undertake international study exchanges at one of the University-wide partner institutions and who meet the eligibility criteria, and it is anticipated that these will be available in 2022/23 year. Students going abroad will be invited to apply but not all applicants are guaranteed an award.

Please contact exchanges@lboro.ac.uk if you have any questions or would like further information about these bursaries.

6+6 work placement and study abroad

If you choose to complete a 6 month work placement and 6 months study abroad then the level of maintenance loan you are entitled to in each part of your placement year will be pro-rated accordingly.

Student Finance makes assessments based on 3 terms (which is why you receive your student loan in 3 instalments) and your entitlement will be based on the activity you are undertaking for the majority of each term.

If a term is split equally between both activities, then you will be paid at the higher loan rate for that term. Your maintenance for the year will therefore usually be calculated as 2 terms at the higher overseas rate and 1 term at the standard home rate or vice-versa.

Year in Enterprise

You can apply for a maintenance loan to help you with your living costs via your student finance provider. You will not have to be means-tested for this loan but the amount you can receive depends on where you are living during the placement,

2021 - 22 figures

  • If you live at your family home: £2,155
  • If you live away from home, including a placement abroad: £2,874
  • If your Year in Enterprise is in London (and not at your family home): £4,035

Loughborough University Bursaries are not available for a Year in Enterprise. It is important that you work out if you can live on the money available before embarking on a Year in Enterprise.

  • You won’t normally have to pay council tax as you will still be considered a student for council tax purposes.
    • You can download a Council Tax certificate to confirm your student status to the local council where you are living whilst on placement.  Visit the Self Service Portal https://www.lboro.ac.uk/students/enquiries/letters/ 
    • The University’s Hardship Fund may help students in unexpected financial hardship. It is important to plan your budget carefully.

You can also obtain advice and information from Careershttps://www.lboro.ac.uk/services/careers/students-and-graduates/placements/

For information about renting privately please see our Guide to living off campus.

 All information and figures are correct at the time of writing but may be subject to change