If you are thinking of taking a full placement year, either paid or unpaid, it is very important to understand that you will receive very limited money for living costs from Student Finance England during that year, even if your placement is unpaid and is in London or abroad.
During the 18/19 academic year, Student finance England will pay £2635 to a qualifying home student who is living away from the family home, and on placement other than in London, (even if it is abroad) and £1976 if they are living with their family. Students do not receive any grants in that year (should any students be eligible). The maximum maintenance loan for a student who is spending the entire year on placement in London, as long as they are not living in the family home, is £3699.
Students with children are not entitled to any Special Support element, or Childcare Grant or Parents Learning Allowance during a placement year.
You will pay a reduced tuition fee during your placement year - check with your university to find out how much you will be charged.