JAPA: UK govt. inflates proof of funds for foreign students
The UK government introduced a new financial requirement for foreign students, significantly increasing the proof of funds needed to study in the country.
According to the Home Office, students in London must now show £1,483 per month for living expenses, while those outside London need £1,136 per month. This is an increase from the previous rates of £1,334 and £1,023, respectively.
Students studying in London for nine or more months will need at least £13,348 in savings to apply for a visa. The Home Office explained that this adjustment ensures foreign students have sufficient funds for living costs, in line with the updated maintenance loans for domestic students.
The new requirements apply to student applicants for each month of their course, up to a maximum of nine months. These changes will take effect for students arriving on or after January 2, 2025. Students who have already paid a deposit for UK accommodation can deduct that amount from the total funds they need to show.
The Home Office noted that the financial requirements will continue to be adjusted in line with inflation and increases in domestic maintenance loans.
