The United Kingdom government has announced new financial requirements for foreign nationals intending to study in the country, with the proof of funds amount significantly increased.
In the latest adjustments by the Home Office, students planning to study in London must now show evidence of having £1,483 per month to cover living costs, while those studying outside London must have £1,136 per month.
The new rates indicates a rise from the previous £1,334 for London and £1,023 for other UK cities.
Under the new rules, 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 is intended to align the financial requirements for foreign students with the revised maintenance loans available for domestic students, ensuring that both groups have adequate funds for living expenses.
The Home Office stated that the increase is essential to align with the updated cost of living in the UK.
Student applicants must meet the maintenance requirement, which will cover each month of their course, up to a maximum of nine months.
According to the office, these changes will take effect for students arriving in the UK on or after January 2, 2025.
However, if a student has already paid a deposit for accommodation in the UK, this amount can be deducted from the total funds they are required to show.
The Home Office also noted that it will continue adjusting the financial requirement to reflect inflation and increases in domestic maintenance loans.
