For the 2016/17 academic year tuition fees will be:
If you are a Home or EU student, you can apply to Student Finance England or Student Finance Services for a tuition fee loan to pay your fees in the same way as for the other years of your course.
If you started your degree after 2012/13 you may qualify for a placement scholarship which can be requested as a tuition fee waiver or cash payment. You will qualify if you meet any of these criteria:
Please note, if you qualify for more than one of the above you can only receive one scholarship during your placement year. All scholarships during the placement year are paid as fee remissions.
If your degree started pre-2012/13 you may qualify for the Aston Placement Allowance and Aston Placement Bursary - see below.
If you are a home student, you may be able to receive living cost grants and loans through Student Finance England for your placement year.
There are different types of student funding available for home students depending on what kind of placement you will be doing.
If you will be taking a paid placement in 2016/17 you can apply to Student Finance England for a reduced Maintenance Loan in addition to your placement salary. This loan is not based on your family’s income and the amounts for 2016/17 are:
You may also qualify for a placement scholarship of £1000
Unpaid placements qualify for a placement scholarship of £1000
As a placement student, you are considered to be doing Unpaid Service if you are taking an unpaid placement in one of the following:
If you considered to be taking Unpaid Service in your placement year then you can apply to Student Finance England for the same types of student funding for your living costs as you would in the other years of your course. You can apply for a Maintenance Loan and the maximum amounts for 2015/16 (depending on your family’s income) are:
You can also apply for the Maintenance Grant of up to £3387 which is assessed on your family’s income. Don’t forget that any amount of Maintenance Grant you receive will be partly used to subsidise your student loan (it is not a simple as adding the Maintenance Grant and Loan amounts together!)
Placement scholarship are paid to students on unpaid placements. These are awarded as a £1000 fee discount.
Your placement may be considered as Unpaid Service if your placement meets one of the following criteria:
In a hospital or laboratory or with a Primary Care Trust in the UK (or equivalent helath authorities in Scotland, Wales or Northern Ireland)
With a local authority or a voluntary organisation in the UK specifically related to the care of children and young person's helth or welfare
In a prison or aftercare service in the UK
Unpaid research in an institution (ie a University) in the UK or overseas
Funding for this type of placement is as follows:
Tuition fee loan
Maintenance loan (these figures are the income assessed maximum):
Living at home - £4,675
In London - £8,202
Living elsewhere in the Uk - £5,878
Maintenance grant (income assessed - remember loan substitution) - £3,387
Placement scholarship because placement is unpaid of £1,000
If you will be studying abroad for your placement year then you can apply to Student Finance England for a Maintenance Loan. The maximum amount available for 2016/17 (depending on your family’s income) is £6820.
You can also apply for the Maintenance Grant of up to £3387 which is assessed against your family’s income. Don’t forget that any amount of Maintenance Grant you receive will be partly used to subsidise your student loan (it is not a simple as adding the Maintenance Grant and Loan amounts together!)
If you normally recieve a grant based on household income you may also qualify for a travel grant. SFE will send you an application form if you qualify
All overseas placements are eligible for a placements scholarship of £1000.
Aston University participates in the European Union’s Erasmus scheme which encourages students to undertake placements in other participating European countries.
Home/EU undergraduates who take part in this scheme are eligible for a mobility grant which can contribute towards the extra costs of living abroad.
The countries which will participate in the Erasmus programme 2014/15 are:
Austria | Belgium | Bulgaria | Cyprus | Czech Republic Denmark | Estonia | Finland | France | Germany | Greece | Iceland | Hungary | Ireland | Italy | Latvia Liechtenstein | Lithuania | Luxembourg | Malta | Netherlands | Norway | Poland | Portugal | Romania | Slovak Republic | Slovenia | Spain | Sweden | Turkey | Croatia
If you are not sure whether or not you qualify to apply for Erasmus funding then contact the Placements Office (email@example.com).
You have to apply to participate in the Erasmus scheme but the funding position is often not certain until just a month or so before you are due to start your placement.
If you are doing a placements through ERASMUS you can still apply to Student Finance England for a Maintenance Loan. The maximum amount for 2013/14 (depending on your family’s income) is £6600
You can also apply for the Maintenance Grant of up to £3387 which is assessed on your family’s income. Don’t forget that any amount of Maintenance Grant you receive will be partly used to subsidise your student loan (it is not a simple as adding the Maintenance Grant and Loan amounts together!
If your course began in 2012/13 and your placement is overseas you will qualify for the placement scholarship which is a £1000 fee remission.
If your course began pre 2012/13 you may be eligible to receive an Aston Placement Bursary of £1000 and an additional £500 Placement Allowance.
If you will be taking awork placement abroad, but outside the EU, you can apply to Student Finance England for a Maintenance Loan. The maximum amount available for 2013/14 is £2807. This amount is not dependent on your household income.
If you started your degree after 2012/13 you may qualify for a placement scholarship which will cancel the tuition fees for the placement year. You will qualify if you meet any of these criteria:
If you are taking a placement in the EU, you can also apply for support through the Erasmus scheme.
Both EU and International can apply to the Susan Cadbury Fund if you are facing unexpected financial hardship.
Everyone pays income tax once they are earning above their tax threshold, even if you are on placement.
The earnings allowance (the amount you have to earn before you start paying tax) for Income Tax for all UK residents is £10,000 in the tax year 6th April 2014 to 5th April 2015. Any amount of money you earn over this will be taxed at a rate of 20%. As well as your placement salary, your earnings include interest from savings and all other employment (including part-time jobs you may have done before or after your placement).
The tax year in the UK always starts on 6th April, which means your placement will actually fall into two different tax years. At the end of the tax year, your placement employer should give you a P60 which will confirm what your earnings were for the tax year 2014/15 and how much tax you paid. Once you finish your placement, your employer should give you a P45 which will confirm how much you have earned so far in the tax year 2014/15 and how much tax you will have paid.
Although you will often find that you placement employer calculates your tax correctly for the first part of your placement, many students end up paying too much tax during the second part of their placement. You can claim a tax overpayment back from HMRC (Her Majesty's Revenue and Customs)by completing a form using information you will find on your P60 and P45. You can collect Tax reclaim forms from The Hub and one of our advisers can help you to complete the form if you wish.
You only have to pay National Insurance in the tax year 2014/15 if you earn more than £153 in a week and you will have to pay 12% of any amount which exceeds this.
If you face unexpected financial hardship during your placement year, you can apply for assistance. These are limited funds for students facing hardship and there is no guarantee you will receive an award. You should not plan to rely on these funds as a way to pay for your placement year studies.
If you are a home student and you are facing unexpected financial difficulties during your placement year and meet the other criteria in the Policy then you may apply for short-term assistance from the Aston Support Fund.
If you are an EU student or International student and you are facing unexpected financial difficulties during your placement year then you may apply for assistance from the Susan Cadbury Fund.