As per government policy, international students coming to the UK must provide evidence that they have sufficient savings to support themselves “for each month of their course (up to nine months),” according to the Home Office.
The level of funds is tied to increases in the maintenance loans available for domestic students, but this hasn’t been updated since 2020.
Under the new rules, students coming to London will have to show evidence of having £1,483 per month, and those planning to study outside of London will need £1,136 per month.
This means that students studying in London for nine months or longer will have to show evidence of £13,348 of total savings when applying for their visa.
Currently, international students coming to study in London must show evidence of monthly savings of £1,447, and £1,109 outside of London.
Students coming to London will have to show evidence of £1,483 per month
The changes, published on September 10, 2024, will apply to students coming to the UK on or after January 2, 2025, and the government has said that it will continue to update the financial requirement regularly in line with inflation and domestic maintenance loan increases.
The proof of funds can still be “offset”, allowing students to demonstrate less maintenance funds if they have paid a deposit for their accommodation in the UK, the government said.
Furthermore, if you have been in the UK on another route for at least 12 months on the date of your application, you do not need to show maintenance funds.
Meanwhile, the NHS surcharge for students applying to study in the UK was increased by 66% to £776 per year on February 6, 2024.
On top of tuition fees, which can be up to three times higher than domestic tuition, international students are also required to pay taxes while working in the UK and pay visa and biometric fees.