The UK has hiked the financial savings required of international students for the first time since 2020.
As per government policy, international students coming to the UK must provide evidence that they have sufficient savings to support themselves “for each month of their course (up to nine months),” according to the Home Office.
Under the new rules, students coming to London will have to show evidence of having £1,483 per month, and those planning to study outside of London will need £1,136 per month.
Currently, international students coming to study in London must show evidence of monthly savings of £1,334, and £1,023 outside of London.
The level of funds is tied to increases in the maintenance loans available for domestic students, but this hasn’t been updated since 2020, as per a report.
The new requirements, announced on September 10, 2024, will take effect for students arriving in the UK on or after January 2, 2025.
The government has stated that it will regularly adjust these financial requirements to keep pace with inflation and changes in domestic maintenance loans.
Under the new rules, students planning to study in London for nine months or more will need to provide proof of £13,348 in total savings when applying for their visa.
According to Nick Skeavington, head of international student recruitment at the University of Exeter, the change is unlikely to have an impact on its own, but is part of a string of recent policy changes contributing to a more challenging recruitment landscape, says a PIE report.
The proof of funds can still be “offset”, allowing students to demonstrate less maintenance funds if they have paid a deposit for their accommodation in the UK, the government said.
Moreover, if you have been in the UK on another route for at least 12 months on the date of your application, you do not need to show maintenance funds.
Source: https://economictimes.indiatimes.com/nri/study/uk-hikes-international-student-maintenance-requirements/articleshow/113287998.cms
