The UK Home Office has raised the financial maintenance that international students need to show in bank account to support study visa application for the first time since 2020.
These changes, announced on September 10, 2024, will apply to students coming to the UK from January 2, 2025. The government has also stated that they will keep updating the financial requirement regularly, based on inflation and increases in domestic maintenance loans.
- Under the new rules, students coming to London will need to show evidence of having £1,483 per month, while those planning to study outside of London will need £1,136 per month.
- Students can still lower the amount of maintenance funds they need to show if they have already paid a deposit for their accommodation in the UK, according to the government.
- Additionally, if you have been in the UK under another visa route for at least 12 months by the time you apply, you won’t need to show maintenance funds.
- Meanwhile, the NHS surcharge for students applying to study in the UK was raised by 66% to £776 per year, effective from February 6, 2024.
- Apart from tuition fees, which can be up to three times higher than those for domestic students, international students must also pay taxes while working in the UK and cover visa and biometric fees.
Conclusion
These changes highlight the UK government’s efforts to align financial requirements with the rising cost of living, ensuring students are better prepared for their time in the UK. While the increased maintenance funds and NHS surcharge may present additional financial challenges, understanding and planning for these costs will help students navigate the visa process more smoothly and focus on their academic journey. It’s crucial for prospective students to stay updated on these requirements to ensure a successful visa application.
