⮩The UK increases financial requirements for international students starting January 2, 2025. ⮩New monthly savings required:£1,483 for students in London (up from £1,334). £1,136 for students outside London (up from £1,023). ⮩Students must show proof of savings for up to 9 months of their course.Total savings for 9-month course in London: £13,348. ⮩Policy change aligns with increases in domestic student maintenance loans, last updated in 2020. ⮩Exceptions:Savings can be offset by prepaying accommodation. No need to show maintenance funds if already in the UK for at least 12 months. ⮩Part of a broader set of policy changes, increasing recruitment challenges for UK universities. |
The UK government has announced a significant increase in the financial savings requirements for international students, the first adjustment since 2020. As of January 2, 2025, students will need to demonstrate higher levels of savings when applying for their visas, with those studying in London must show evidence of £1,483 per month, while students in other parts of the UK will need £1,136 per month. This is a rise from the current monthly requirements of £1,334 for London and £1,023 for other areas.
These savings must cover each month of the student’s course, for up to nine months. Consequently, students studying in London for a nine-month course must prove £13,348 in total savings.
The change, announced on September 10, 2024, aligns with increases in maintenance loans for domestic students. However, it also follows a series of recent policy shifts that are making it more challenging for UK universities to recruit international students. Nick Skeavington, head of international student recruitment at the University of Exeter, acknowledged the broader recruitment challenges but said the increase in financial requirements alone is unlikely to deter students.
The UK Home Office clarified that students can still offset the required funds by prepaying for their accommodation. Additionally, students who have been in the UK for at least 12 months under another visa route will not need to show maintenance funds when applying for their student visa.
These adjustments come as part of the government’s efforts to keep up with inflation and ensure that students have adequate financial support during their stay in the UK.