10. Useful Information

Placements in Europe and the Erasmus Programme

You may be eligible to receive an Erasmus grant if you are undertaking a work placement in Europe as part of your degree. However, participation of the UK in the Erasmus+ programme will depend on the outcome of Brexit negotiations. 

For more information on placements and the Erasmus programme, please:


Additional placement support and advice is available from

  • Academic Advice Service – it offers confidential advice and representation on a range of academic issues. 
  • Advice and Counselling Service - it provides a range of specialist, professional and confidential services to support students with financial, welfare, legal, emotional and psychological issues.
  • The Disability and Dyslexia Service (DDS) - it offers support for all students with disabilities, specific learning difficulties and mental health issues at QMUL.
  • International Students Resources - it offers international students specific advice on money, immigration and other practical aspects of living and studying in the UK.


Scholarships

The aim of the Economics and Finance Placement Scholarship is to support home students from the School of Economics and Finance with a low household income to take the year in industry programme. The scholarship will cover the full cost of the fee in the academic year that the industrial practice is undertaken (normally year 3 of the academic programme).  The scholarship is open to home students only. More information can be found here


Student status and enrollment

You are still registered as a student while out on placement but will not be required to enroll in person as this can be carried out online.


Tuition Fees

As a registered student you are still required to pay a tuition fee. However, this is at a significantly reduced rate. The current fee for 2024/25 academic year is £1,850 for home students, and £3,700 for overseas students.


Income Tax

The amount of tax you have to pay while on placement will vary according to your ‘personal tax allowance’. If this is not your first job experience, your new employer will ask you to provide a P45 form on commencing your placement, which you will be able to get from your previous employer. Otherwise, if you have never been employed before, you will be asked to complete a tax form. Any queries you have regarding your tax once you have started work should be taken up with your payroll department and/or the local tax office assigned to your organisation.

Do not forget that the Queen Mary Student Advice Service can also advise you on issues relating to student loans, council tax and income tax.


Student Loans/Council Tax

You are still entitled to apply for a student loan during the placement year but the rate you receive will be reduced. As you will retain the status of a full-time student while on placement, you will remain exempt from paying Council Tax.

If you are an International student, you should inform the necessary authorities/ sponsors in your home country that you are starting your placement year where appropriate.


National Insurance Number

If you work in the UK, a National Insurance Number (NINO) is a number unique to you to help your employer pay your National Insurance contributions; no one else can use this number. National Insurance Numbers are free, please do not pay an online service to generate a number for you.

You do not need a National Insurance Number to start work but you will need to get one when you get a job. Some employers think they cannot employ you if you do not have your National Insurance Number, but this is not true. If your employer insists that you get a NINO before starting the placement, place inform your Placement Officer.

When you get your placement you need to call the National Insurance Number Allocation Line on 0845 600 0643 to enquire about getting your permanent National Insurance Number. When you call for your National Insurance Number you need to provide your 

  • Full Name

  • Date of Birth

  • Address

  • Postcode

  • Date you arrived in the UK

  • Confirm whether you are currently employed or not

Also, it is important that you have your passport and visa information to hand, as you will not be able to proceed without them. Depending on your nationality and where your visa was issued, you may be asked to attend an interview. For further information see the website of the UKCISA, The UK Council for International Student Affairs.