Health Minister Stephen Donnelly said it will run alongside a longer-term review examining the support they get.
The government has also started a review into whether students are being asked to do inappropriate practices while on placement.
Health Minister Stephen Donnelly says they will be taking action to increase allowances:
"With regard to the allowance I welcome deputy- I think what you're saying is that Sinn Fein is not looking for a wage for the first, second and third years, but is looking for an appropriate allowance, and I agree with that. And to that end I'm saying we're doing two things. We're doing a short review at the request of the representative bodies to get the allowance up in January, in a time of Covid, and we're looking at a second review, which would deal with the time after Covid."
