How Much Money Do I Need to Show for UK Student Visa?

This guidance relates to UK Student Visa Financial Requirements and Bank Balance. Accordingly, covers the details of evidence of UK student visa financial requirements for course fees, living cost (Boarding and Non-Boarding in London and Outside London), Bank Account, Sponsor, and Loan Letter.  

1. Overview 2. Course Fees 3. Living Cost 4. Evidence of Finances 5 Money Held in an Account 6. Sponsor 7. Student Loan

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1. Overview

UK Student Visa Financial Requirements and Bank Balance 2021

To score 10 points for meeting the financial requirement, the UK student visa applicant needs to show that they have sufficient funds to pay outstanding course fees for the first academic year and can demonstrate funds to cover their living costs for up to 9 months.

How Much Bank Balance is Required for UK Student Visa?

Accordingly, for Residential Independent School, a UK student visa applicant needs to have sufficient funds to pay outstanding fees (course fees and boarding fees) for one academic year. However, for all other cases, UK student visa applicant need to have sufficient funds to pay any outstanding course fees as stated on the CAS, and £1,334 (if they are Studying in London) or £1,023 (if they are Studying Outside London) for each month of the course (up to a maximum of 9 months).

For instance, if the Tuition Fee is £10,000 for one year and the CAS states that the applicant has already paid £5,000 to the Educational Institution in London then the required bank balance for meeting the UK student visa financial requirements is £17,006 i.e. £5,000 for the remaining amount of the tuition fee and £12,006 for the meeting the 9-months living cost.

However, if the Education Institution is located Outside London, then the required bank balance for meeting the UK student visa financial requirements is £14,207 i.e. £5,000 for the remaining amount of the tuition fee and £9,207 for the meeting the 9-months living cost.

ST 12.4. If the applicant has paid a deposit to the student sponsor for accommodation arranged by the sponsor, this deposit (up to a maximum of £1334) can be offset against the funds required in ST 12.3.
ST 12.5. If the applicant has paid all or part of their course fees to their student sponsor this must be confirmed on the Confirmation of Acceptance for Studies, or the applicant must provide a receipt issued by the student sponsor confirming the amount of fees paid.

Immigration Rules Appendix Student

28-Day Period

To meet the UK student visa financial requirements the applicant needs to show that they have held the required level of funds for a consecutive 28 day period, unless they are relying on a student loan, an award from a government or international sponsorship agency, or where they are receiving some portion of the funds or other financial sponsorship from their student sponsor (as a bursary, for example). The 28 day period must end no more than 31 days before the application date.

FIN 1.1. Where money is held in one or more foreign currencies, this will be converted into pound sterling (£) using the spot exchange rate which appears on www.oanda.com for the date of the application.

Immigration Rules Appendix Finance

Exemptions

The following applicants will automatically meet the UK student visa financial requirements and be awarded 10 points, if they are applying for permission:

  • to stay in the UK, having been in the UK for at least 12 months with valid permission on the date of application
  • as a Student Union Sabbatical Officer
  • to study on a recognised foundation programme as a postgraduate doctor or dentist in training

Differentiation Arrangements

If an applicant qualifies under the differentiation arrangements, then they are not, usually required to provide evidence they meet the financial requirements. However, applicants should still hold the required level of funds as UKVI reserve the right to request evidence of funds from these applicants.

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UK Student Visa Financial Requirements 2021 and Bank Balance

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    2. Course Fees

    UK Student Visa Financial Requirements and Bank Balance 2021

    Applicants applying for a new course from overseas and those who have been in the UK for less than a year must demonstrate that they have enough money to pay the course fees for either:

    • one academic year of the course
    • the entire course (if it is less than a yearlong)

    Differentiated Nationals

    Students who are differentiated nationals will generally not be required to demonstrate evidence of course fees. Those students who have held valid permission for 12 months or more at the date of application are not required to demonstrate funds to pay course fees during their application. However, all international students are required to pay any course fees to the sponsoring institution.

    CAS

    The amount an applicant will pay for course fees is stated on the Confirmation of Acceptance for Studies (CAS). The CAS will also confirm if there is no fee to pay. The caseworker must also:

    • check for any payment receipts that post-date the CAS and which may have been provided
    • query any ambiguities with the applicant or sponsor

    If the applicant has paid all or part of their course fees this must be confirmed on the CAS, or the applicant must provide a receipt issued by the sponsor confirming the amount of fees paid.

    3. Living Costs

    UK Student Visa Financial Requirements and Bank Balance 2021

    An applicant must show they have enough money to cover their monthly living costs while in the UK. The amount of money they must show depends on whether they:

    • are a boarding student
    • will be studying in London
    • will be studying outside London
    • are applying under the Doctorate Extension Scheme

    Length of Study that Includes Part of a Month

    If the course includes part of a month, the course duration will be rounded up to the next full month. For example, if the applicant will be studying for a total of 6 months and 25 days, then the applicant needs to have the living cost for 7 months.

    Accommodation Deposits

    If the applicant has paid a deposit to the student sponsor for accommodation they are providing, this deposit (up to a maximum of £1,334) can be offset against the required funds they need to demonstrate. The amount paid will be taken as that stated on the CAS. A payment can only be offset if the accommodation is provided by the sponsor. Payments made to third parties will not be considered when calculating the amount needed to meet the financial requirement.

    Boarding Students

    To score 10 points for the financial requirement, an applicant who is boarding at an independent school must show they have enough money to pay for school fees (course and board or lodging fees) for one academic year as stated on the CAS. They will not need to provide evidence of additional funds for living costs if they will be staying in on-site accommodation at the boarding school and where all living costs are accounted for in the board/ lodging fees.

    On the CAS the sponsor will show:

    • how much an applicant needs for their course fees and boarding fees
    • whether or not these fees have been paid

    Main Study Site in London

    Applicants on the Student route who need to show funds and who are not boarding with their sponsor need to show they have more funds available if they are studying in London. Child Students who are living independently also need to show more funds if they are studying in London.

    • In London – Monthly Living Cost Requirements 1,334 per calendar month for up to 9 months (Maximum £1,334×9 = £12,006)
    • Outside London – Monthly Living Cost Requirements £1,023 per calendar month for up to 9 months (Maximum £1,023×9 = £9,207)

    City of London and Greater London Area

    If an applicant will be studying more than half of their course within the City of London or in one of the boroughs listed below, comprising the Greater London Area, they will be required to demonstrate the London financial requirement. Maintenance requirements are calculated on where the applicant is studying rather than where an applicant will be living.

    List of 32 London Boroughs

    The 32 London boroughs listed below are classed as within the Greater London Area:

    1. Barking and Dagenham
    2. Barnet
    3. Bexley
    4. Brent
    5. Bromley
    6. Camden
    7. City of Westminster
    8. Croydon
    9. Ealing
    10. Enfield
    11. Greenwich
    12. Hackney
    13. Hammersmith and Fulham
    14. Haringey
    15. Harrow
    16. Havering
    17. Hillingdon
    18. Hounslow
    19. Islington
    20. Kensington and Chelsea
    21. Kingston upon Thames
    22. Lambeth
    23. Lewisham
    24. Merton
    25. Newham
    26. Redbridge
    27. Richmond Upon Thames
    28. Southwark
    29. Sutton
    30. Tower Hamlets
    31. Waltham Forest
    32. Wandsworth

    A UK student visa applicant can check if the educational establishment is in a London borough by entering the postcode into the Royal Mail Postcode Finder.

    4. Evidence of Finance

    UK Student Visa Financial Requirements and Bank Balance 2021

    Applicants who need to show funds, must show they meet the financial requirement using evidence such as bank statement, confirmation of a student loan or official financial sponsorship, or proof of relationship where the applicant is relying on parental funds.

    If the applicant is relying on funds from a third party, then they provide evidence of relationship with the third party. Please note, if the relationship between the applicant and third party is not clear then the Immigration Office may ask for further information.

    5. Money held in An Account

    UK Student Visa Financial Requirements and Bank Balance 2021

    For meeting the UK student visa financial requirements, the funds may be held in any form of personal bank or building society account (including current, deposit, savings, pension from which the funds can be withdrawn or investment account) provided the account allows the funds to be accessed immediately. Therefore, funds held in other accounts or financial instruments such as shares, bonds, credit cards, pensions from which the funds cannot be withdrawn immediately, regardless of notice period, will not be accepted as evidence of funds.

    Account Ownership

    For meeting the UK student visa financial requirements, an applicant can reply on an account in their name (either alone or as a joint account holder), unless one of the following applies:

    • the account is in the name of the applicant’s partner who is applying for entry clearance or permission to stay at the same time or has been granted permission; or
    • applicant is applying as a Child Student, or Student, or dependent child, and the account is in the name of their parent, or their legal guardian; or
    • applicant is applying as a Child Student and they are being cared for by a close relative, or a private foster care arrangement has been made which complies with the requirements (in Paragraph CS 9.3. to CS 9.5 of Appendix Child Student), and the account is in the name of the applicant’s close relative or private foster carer; or
    • the requirements for the route under which the applicant is applying state that an account in the name of a third party may be relied upon and the account is in the name of that third party.

    UK Student Visa Financial Requirements and Bank Balance 2021

    For meeting the UK student visa financial requirements, an applicant can use the funds provided by an official financial sponsor, such as Her Majesty’s Government, the applicant’s national government, the British Council or any international organisation, international company, university, or Independent School. However, if an applicant is relying on funds provided by an official financial sponsor, then either Confirmation of Acceptance for Studies (CAS) should mention the provided funds, or the applicant supports the claim by a letter of confirmation from the official financial sponsor.

    7. Student Loan

    UK Student Visa Financial Requirements and Bank Balance 2021

    An applicant can use the evidence of student loan provided by a government or a government sponsored student loan company for meeting the meet the UK student visa financial requirements.

    Academic or Education Loans Scheme

    An applicant can use the academic or educational loans scheme which is provided by a financial institution regulated for the purpose of issuing student loans by either the Financial Conduct Authority (FCA) or the Prudential Regulation Authority (PRA) or, in the case of an overseas loan, the official regulatory body for purpose of issuing student loans in the country the institution is in and where the money is held.

    Loan Letter

    If an applicant is relying on an academic or educational loans scheme for the meeting the UK student visa financial requirements, then needs to provide a loan letter from the lender which must:

    • be dated no more than 6 months before the date of application; and
    • confirm the loan is a student loan provided to the applicant by either the relevant government or a government sponsored student loan company or an academic or educational loans scheme; and
    • confirm there are no conditions on release of the loan funds other than a successful application to study in the UK as a Student or Child Student; and
    • confirm the amount of the loan; and
    • confirm the loan is to the applicant; and
    • confirm the funds will be:
      • available to the applicant before they travel to the UK; or
      • paid directly to the student sponsor before the applicant travels to the UK, with any living cost portion of the loan being made available to the applicant by the time they arrive in the UK; or
      • available before the applicant begins their course if the loan is provided by the applicant’s national government.

    Moreover, the student loan letter also needs to confirm that the funds are from an academic or educational loans scheme which is provided by a financial institution regulated for the purpose of issuing student loans by either the Financial Conduct Authority (FCA) or the Prudential Regulation Authority (PRA) or, in the case of an overseas loan, the official regulatory body for purpose of issuing student loans in the country the institution is in and where the money is held.