The £300 figure may well be correct - the magistrates would have fixed a figure based on the driver's means, not the amount of compensation to which the injured motorcyclist will be entitled.
However, it's not "all he gets for his troubles."
The motorcyclist will receive compensation from the Motor Insurers Bureau. The MIB was formed about 50 years by agreement with the Government to compensate victims of negligent uninsured and untraced motorists. Every insurer underwriting compulsory motor insurance is obliged, by virtue of the Road Traffic Act 1988, to be a member of MIB and to contribute to its funding.
A law student convicted of driving without due care and attention, failing to stop after an accident, driving without insurance, driving with faulty brakes and steering and driving illegally with a provisional licence which he obtained following a previous disqualification?
If he had any aspirations to become a Barrister, he can definitely forget them.
I assume/hope the Law Society (Solicitors' governing body) would take the same view.
The penalty of 2 months imprisonment seems rather lenient, but I wasn't there so don't know all the facts/circumstances.