International students planning to study in the United Kingdom will face higher financial requirements from January 2025, following new rules announced by the UK Home Office.
The changes, revealed on September 10, 2024, will see an increase in the amount of savings students must demonstrate when applying for a visa.
Under the new guidelines, international students aiming to study in London will need to show proof of savings amounting to £1,483 per month. Those planning to study outside London will be required to prove they have £1,136 per month to support themselves. These updated figures represent an increase from the current requirements, which stand at £1,334 per month for London-based students and £1,023 for students elsewhere in the UK.
The changes are linked to the maintenance loans available for domestic students, though the amounts have not been updated since 2020. The Home Office has confirmed that the financial requirements will now be regularly reviewed to keep pace with inflation and increases in domestic maintenance loans.
For a nine-month course, students studying in London will need to show a total of £13,348 in savings. The proof of funds can be reduced if students have already paid a deposit on accommodation, offering some relief to applicants. Furthermore, students who have lived in the UK for at least 12 months on another visa route will not need to provide evidence of savings.
The financial burden on international students continues to grow, with an increase in the NHS surcharge for visa applicants to £776 per year in February 2024, alongside other costs such as tuition fees and visa charges. Despite the rising costs, the UK remains a popular destination for international students.
These changes will come into effect for students applying on or after January 2, 2025.
