Rising Visa Costs: UK Introduces Tougher Financial Requirements for International Students

UK Raises Student Visa Maintenance Fund Requirement by 11.17%, Affecting Global Students

The global interconnection has eased the process of studying abroad, but changing visa policies have created new challenges for students. Several countries, including Australia, the USA, and Canada, have recently altered their visa regulations. Now, the United Kingdom has also announced changes to its student visa requirements, effective January 2025.

International students, including those from India, will now need to demonstrate increased financial resources to secure a student visa. The UK government has raised the required maintenance funds by 11.17%. Students applying for a UK student visa will now need to show approximately £13,347 (Rs. 14.4 lakhs) in their bank accounts for 28 consecutive days leading up to their visa application. This is an increase from the previous requirement of £12,006 (Rs. 12.9 lakhs). These new regulations add another layer of complexity for students aiming to pursue their studies abroad, necessitating careful planning and financial readiness.

For students studying outside London, the required maintenance funds have risen to £10,224, up from £9,207. Experts stress the need for careful financial planning, as the increased visa-related expenses now require securing additional funds to meet these updated requirements. They also recommend exploring scholarship opportunities to ease the financial burden, especially when paired with a solid financial plan. Manisha Javeri, Joint Managing Director of Career Mosaic, emphasized that students who settle abroad after completing their education can benefit long-term from their investment in maintenance funds and visa expenses.

Students must show enough funds to cover tuition and living expenses for a student visa. For those studying in London, the requirement is £20,000. While the UK’s increased maintenance fund requirements pose a challenge, careful financial planning, scholarships, and a solid strategy can help students successfully meet these changes and secure a place in UK universities.

Editor’s Note:

Studying abroad programs often increase the financial burden on students, and while scholarships can help alleviate some of these strains, changing visa policies and new financial requirements are creating a widening gap. The UK's recent increase in maintenance fund requirements for student visas underscores the growing financial challenges faced by international students. While this policy adds complexity, it also highlights the importance of financial preparedness. Students who want to pursue their studies abroad need to plan strategically, apply for various scholarships, and carefully manage their finances to achieve their educational goals in the UK.

Skoobuzz encourages students to explore all available financial support options and take proactive steps in their financial planning to overcome these challenges.