Generally no, but that depends on the visa requirements for the host country.
You must take at least four and at most six modules, which must be approved by your course director before acceptance.
There is no specific grant available. However, students do not pay tuition fees at the host university. Your main expenses will be for flights and accommodation. Students who are in receipt of a grant from their local authority may be eligible to claim the higher rate of maintenance while they are on exchange.
Formal documentation is usually sent out by May 1st.