In most cases, photographs from prints for time shoots are used for the photographer's own self-promotion or simply disappear in a filing cabinet. 

Some images may be submitted to picture libraries or sold as prints. Is it fair to use photographs from a PFT shoot in this way? I believe it is. A sale may help the photographer offset a part of his own costs for the shoot, but it won't create a net profit.

Please keep in mind my costs in this venture with you: instead of donating my time to you I could be making money shooting photos for one of my many editorial and commercial clients. Please look at my rates. That is what my time is hopefully meaning to you. If I can make some of that back with the sale of a stock image, we both win.

My policy:

I will use the photographs for my own self-promotion. The photos could be used on my website (online portfolio), in a magazine that features an article about my work, or be shown in an exhibition. Some images may be used in picture libraries or sold as prints, but honestly, the vast majority will never be used.