Foreign students must have £13,348 in savings before applying for visa – UK govt

The United Kingdom government has introduced new financial requirements for students studying in London for nine or more months.

The government now requires foreign nationals intending to study in the country to show proof of funds amounting to at least £13,348 in savings before applying for a visa.

According to 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 latest development marks a rise from the previous rates of £1,334 for London and £1,023 for other UK cities.

The Home Office explained that the adjustment is intended to align the financial requirements for foreign students with the revised maintenance loans available for domestic students.

It stated that the new rule will ensure 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.

The changes will take effect for students arriving in the UK on or after January 2, 2025.

Newnaija.com.ng2024/09/13/foreign-students-must-have-13348-in-savings-before-applying-for-visa-uk-govt/”>Foreign students must have £13,348 in savings before applying for visa – UK govt