I'm not sure how it works for the student loan i will claim next year, for my placement year in the workplace.
Firstly, on the form, it asks to estimate income for the year. would the income from whatever wages obtained in the placement year be included? or would it be considered as temporary work?
And is there anything else i have to consider about placements in regards to finances?
Your uni's placement office might be the best people to ask, i personally dont plan on having any loan since the placement year's salary will be higher in value than the loan, and i aint really using the loan as is.
But i would say you have to put how much money you will be earning from your placement and any other taxable jobs. Also uni's still expect tutition fees while your on placement to cover their side of the placement year. Unless its a year out and then you shouldnt have to pay anything to the uni.
My parents are giving me the same deal as my sister, do my best and get a good degree and they will cover the expenses to reduce money worries.
I wasn't allowed to claim a student loan during my placement year (although this was 6-7 years ago, so I guess the rules might have changed now).
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