UK Home Office has increased the amount of money foreign nationals must show as “proof of funds” to study in the United Kingdom.
Gatekeepers News reports that the new rules, released on Tuesday, require students to demonstrate they have sufficient savings to cover their living expenses while studying in the UK.
For students planning to study in London, the proof of funds rate has been raised to £1,483 per month, while those studying outside of London will need to show £1,136 per month. This means that foreigners looking to study in London for nine or more months will need a total of £13,348 in savings to apply for their visa.
The Home Office stated that the increase is necessary to match the revised maintenance loans available for domestic students and the updated cost of living in the UK. The maintenance requirement for student applicants will cover each month of their course, for up to nine months.
The changes will apply to students going to the UK on or after January 2, 2025. However, if a student has already paid a deposit for accommodation in the UK, this can be offset against the total funds they need to show.
The Home Office has noted that it will continue to update the financial requirement in line with inflation and domestic maintenance loan increases.
