UK hikes minimum financial requirements for student visa to 1.63 lakh

From January 2, 2025, onwards, international applicants need to show that they have enough funds to support themselves during each month in the UK. The minimum financial requirement for a student visa increased to 1.63 lakh.

Study in UK: For the first time since 2020, the UK government has announced to increase in the financial savings requirements for foreign students in the UK. It has increased to 1.63 lakh. The idea is that the student must demonstrate that they can financially sustain themselves while studying in the UK.

The new policy will be effective from January 2, 2025. Those who are planning to study in London need to submit proof of £1,483 per month in savings, and applicants who will be studying outside of London will need proof of £1,136 per month.

As per TOI, the government has increased this due to the rising cost of living in the UK. The government intends to change these figures regularly as per the changes in domestic student maintenance loans and inflation.

Those who intend to study for nine months and more, need to show the evidence of a minimum of £13,348 in savings.

"Studying in London comes with higher costs, particularly for accommodation and transport, which is why the requirement has gone up to £1,483 per month," said the statement of Home Office.

The University of Exeter's international student recruitment head, Nick Skeavington said, "While this specific change may not directly affect student recruitment, it is part of a broader set of policies that could contribute to a more challenging environment for international student enrollment," as per ET report.

Impact on Indian students

Ajay Sharma, an immigration consultant and the founder of Abhinav Immigration Services said, "A person going from India spends, on average, around Rs 25 lakh per annum for a good course or institution. Hence these small changes never impact a student's decision," as reported by Business Standard.

"The key areas around which a student and their parents decide are the course and institution, possible pathways to work after studying, and student visa acceptance rates in India. For instance, the USA became the top destination this year because its visa acceptance rate was better than Australia's and Canada's," added Sharma.

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