By Increased Financial Proof for International Students
The UK Home Office has introduced new financial requirements for international students, raising the minimum savings they must demonstrate before applying for a visa. This is the first such increase since 2020 and is aimed at aligning with rising costs in the UK.
New Savings Requirements
Starting January 2, 2025, international students studying in London will need to show proof of £1,483 per month, while those studying outside of London will need £1,136 per month. Previously, the requirements were £1,334 for London and £1,023 for non-London locations. These savings must cover each month of their course, up to nine months.
Reason for the Change
The update reflects increases in the maintenance loans available to UK domestic students, ensuring international students have sufficient funds to cover the rising cost of living. However, this change may make the UK less appealing to students from lower-income countries, where these amounts may be harder to meet.
Potential Impact on International Students
Experts warn that these increased requirements could make the UK a less accessible destination for students from developing countries. Syed Nooh, Head of Global Insights at UEA, explained:
“While it’s understandable that UKVI is adjusting for inflation, these increases may push international students to explore other, more affordable options.”
For students studying in London for nine months or longer, they will now need to provide proof of £13,348 in savings during their visa application process.
Flexible Options for Students
The new rules do offer some flexibility. Students can reduce the required proof of funds by pre-paying for accommodation or if they have been in the UK on another visa for at least 12 months before applying.
Wider Context: Other Changes
These financial changes are part of a broader set of policy adjustments, including a 66% increase in the NHS surcharge for international students, which is now £776 per year. The UK government has also tightened visa rules for dependents, adding further financial pressure on prospective students.
Concerns About Accessibility
Nick Skeavington, head of international recruitment at the University of Exeter, commented on the wider impact:
“This change, while necessary to match rising domestic costs, may make it harder for students from West Africa, South Asia, and other key markets to study in the UK.”
The additional costs come on top of higher tuition fees for international students, visa application fees, and taxes while working in the UK, raising concerns about affordability and access for students from developing countries.
Conclusion
While the new financial requirements are essential for ensuring international students have sufficient support during their studies, they may also reduce the diversity of students on UK campuses by making it harder for individuals from lower-income backgrounds to study in the UK.
