The government of the United Kingdom has introduced new financial stipulations for international students wishing to pursue their studies in the country, which includes an increase in the required proof of funds.

As per the Home Office, students intending to study in London must now provide evidence of £1,483 per month (approximately N3.1 million) to cover their living expenses, while those studying in other regions of the UK are required to show £1,136 (N2.4 million) per month. This represents an increase from the previous amounts of £1,334 for London and £1,023 for other areas.

Under the revised regulations, students enrolled in programs lasting nine months or more in London must demonstrate a minimum of £13,348 in savings to qualify for a student visa.

The Home Office clarified that this change aims to align the financial requirements for international students with the updated maintenance loans available to domestic students, ensuring that both groups possess adequate funds for living expenses.

This adjustment reflects the increasing cost of living in the UK, with the Home Office emphasizing that the new requirements are crucial for keeping up with inflation.

Students are required to meet the financial criteria for each month of their course, up to a maximum of nine months.

However, if a student has already made accommodation payments in the UK, the deposit can be subtracted from the total funds they need to demonstrate.

These new regulations will be applicable to students arriving in the UK on or after January 2, 2025.

The Home Office also stated that it will continue to revise the financial requirements in the future to accommodate inflation and changes in domestic maintenance loans.