DS is doing an Economics degree with a year at a work placement for the 3rd year - can anyone tell me how this works with his maintenance loan etc?

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DS has a year in work next year - then will be back at uni for his 3rd year.. he wants us to pay a deposit for his next years rent, but as I understand it, he won't get a maintenance loan, just a bursary for around £,2000 during this year ...

Please can anyone tell me how this has worked for their DC, is the work placement wage meant to cover living expenses / rent etc..?

DS wants to stay with his friends in his uni town, so is not looking at coming home to do this work placement ...?

TIA

He will be able to get a maintenance loan (and his fees will need paying so make sure he re-applies for student finance next summer), and officially will still count as a students so can still get council tax exemption and any other student benefits. That said most placement years pay a lot more than the loan so he'll be fine.

(Assuming England... other nations are available...)

Thanks for that information @titchy

Ds is doing a placement year at the moment. He’s paid around £18k for the year so more than enough to live on. Can’t remember the student loan amount for this year. Maybe a few hundred each term.

Are there many potential employers in his uni town? I would say most students sort out a placement first before committing to accommodation. Ds is actually in his uni town this year but that’s because he was preparing to go back into 3rd year due to not finding anything, committed to a house share & then got offered something at the last minute which was nearby. But his classmates are all over the country.

Even before Covid it was hard to secure placements so good luck to your Ds!

My DS is in his work placement year (also doing an Economics degree) and receiving a decent salary which is far more than his maintenance loan (plus parental top up) was. However I strongly recommend your DS finds his work placement first before committing to accommodation - my DS had quite a struggle to find something (fortunately he loves it) but it is miles away from both home and his Uni so that involved finding somewhere new to live.
There are still reduced 'tuition' fees to be paid for this year .. about £1200 in my DS's case.