Japa: UK Raises Financial Requirements For Nigerian Students, Others

The UK government has introduced stricter financial requirements for international students, significantly raising the amount of proof of funds needed to secure a student visa.

In a new directive from the UK Home Office setting financial requirements for international students, it was deposed that foreign students wishing to study in London must now demonstrate they have £1,483 available per month for living expenses. Students planning to study outside London will need £1,136 per month. This marks an increase from the previous rates of £1,334 and £1,023, respectively.

For students enrolling in courses lasting nine months or longer, the required savings for those living in London will now total at least £13,348. The Home Office stated that this adjustment is aimed at ensuring international students have adequate financial support for their living expenses, aligning with the recent increases in maintenance loans available to domestic students.

The new requirements are applicable for each month of study, up to a maximum of nine months. These changes will come into effect for students arriving in the UK on or after January 2, 2025. However, students who have already paid a deposit for their UK accommodation can deduct that amount from the total proof of funds they are required to show.

The UK Home Office further clarified that these financial requirements for international students will continue to be reviewed and adjusted in line with inflation and the changes in domestic student maintenance loans. This change is expected to impact future international applicants, with the government emphasizing the need for financial preparedness.
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