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Going on a placement for a year means you will need to think carefully about how to manage your money. The information below provides details on how to fund your undergraduate placement year, what financial support may be available to you, and where to find further advice and support.

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Tuition fees

You will pay a reduced tuition fee for the year you are on placement. This fee covers the support you will receive during your placement year, and your continued access to university support services. More information (including specific fee amounts) can be found on our web pages.

Tuition fees for undergraduate home students

Tuition fees for undergraduate overseas students

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If eligible, you will be able to apply for a tuition fee loan from your local UK funding agency (eg Student Finance England) to cover the reduced fee.

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Maintenance loan

If you will be undertaking a placement, if eligible, you can apply to Student Finance England for a reduced rate maintenance loan. This reduced rate maintenance loan will not take your household income into account - the loan is non-means-tested - and varies according to where you will live during the placement.

The amounts for the 2024-25 academic year are: 

• £2,324 if living at home
• £3,098 if living away from home and outside of London
• £4,350 if living in London

Students with children or an adult dependant, or students with Disabled Students’ Allowance (DSA), are not usually eligible for this support when in receipt of a reduced rate maintenance loan.

Students undertaking certain specified unpaid placements may be eligible for full funding, providing the placement is one of the following:

• Unpaid service in a hospital or in a public health service laboratory or with a clinical commissioning group in the UK
• Unpaid service with a local authority in the UK acting in the exercise of its functions relating to the care of children and young persons, health or welfare, or with a voluntary organisation providing facilities or carrying out activities of a like nature in the UK
• Unpaid service with a local authority acting in the exercise of public health functions in the UK
• Unpaid service in the prison or probation and aftercare service in the UK 
• Unpaid research in a UK institution or, in the case of a student attending an overseas institution as a part of their course in an overseas institution
• Unpaid service with a Special Health Authority, the NHS Commissioning Board, the National Institute for Care and Excellence, the Health and Social Care Information Centre, a Local Health Board, a Health Board or a Special Health Board in Scotland, or a Health and Social Services Board in Northern Ireland
• Unpaid service in the UK Parliament 

For more information, .

If you are considering a placement outside of the UK, the Turing Scheme enables eligible students to apply to receive a grant towards the additional costs incurred by a period spent abroad during their degree. Find out more information about eligibility and contact globalopps@sheffield.ac.uk for more information.

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University of 91Ö±²¥ bursaries

If you usually receive a University of 91Ö±²¥ bursary, you will not receive this during your placement year. Full terms and conditions for recipients of University of 91Ö±²¥ bursaries can be found on our web pages.

University of 91Ö±²¥ bursaries - terms and conditions

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Scholarships

If you are usually in receipt of a scholarship from the University, this is not usually paid whilst you are on placement. Check your scholarship award letter or any other correspondence you received when you were awarded your scholarship for more information.

However, there is a specific placement year scholarship scheme, with the aim of providing additional funding support to students from underrepresented backgrounds who undertake a placement year. There are a number of scholarships, each worth £1,000. The scholarship is not there to replace wages, but rather to supplement this and help with costs associated with the placement, such as travel costs, accommodation, or professional clothing. 

You may be eligible for the scholarship if you meet at least one of the (student login required). If you are unsure if you meet the eligibility criteria, to check. 

For 2024-25 information, please .

If you have any questions about this scheme, please contact placements@sheffield.ac.uk. 

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Other support from the University

As you will be a registered student, you will still be able to access the support from the University and the Students’ Union, including free facilities and discounts across campus. You may also be able to apply to the Financial Support Fund, if eligible; please note, not all applications will be successful, students should not rely on these funds, and if you do receive an award, it may only be a contribution towards costs.

Cost of living support for students

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Help and advice

You can use our to plan your finances, an interactive tool that allows you to generate your budget for the year: it will help you understand how much money you may need and identify any potential difficulties or shortfalls in advance of starting a placement.

You can also visit our web pages on managing your money, which includes advice on how to organise your money better and ideas on how to save money.

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Other useful tips:

• Do some research beforehand to find out more about managing finances during your placement year - speak to a student who was on placement last year at the same place you’re applying to, for example.
• Whilst on placement, try to save money for your final year if you can.
• You should still be regarded as a full-time student for Council Tax purposes. This means that you should be exempt from Council Tax. You may need to show your local council a student status letter. 

        (student login required)

If you need to discuss your financial situation with someone, you can contact the Student Advice Centre in the Students' Union. 

Finally, remember that you must register with the university for your placement year. You should (student login required) in the usual way. If you are not fully registered, funds from student finance will not be released, you will not be eligible for Council Tax exemption, and you will not be able to access the University’s online services.