UK Increases Maintenance Fund Requirements For Student Visas, Affecting Indian Students

The fresh report indicates that there are likelihoods of the United Kingdom making changes on student visa regulations. Students aspiring to get prospective student visas for the UK will be required to show higher minimum maintenance funds from January 2025, which is understandable considering the rampant inflation and ever increasing cost of living. This may however present a financial burden to Indian students who happen to be one of the largest groups of international students in the UK.

UK Increases Maintenance Fund Requirements For Student Visas, Affecting Indian Students

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One of the most important requirements in acquiring a UK visa for students has always been to prove availability of funds to take care of the applicant's living expenses whilst in the UK. This amount must be in the applicant’s bank account at least 28 days prior to the visa application. The amount needed also differs depending on the area where the place of study is located i.e. London or the rest of the UK.

At present, students based outside London are required to demonstrate the availability of £1,023 per month (equivalent to INR 1,12,248.98) for their sustenance, while students residing in London are obliged to demonstrate at least £1,334 per month (INR 1,46,373.55). The above-mentioned amounts have to be estimated for a maximum period of up to nine months, which compounds to large figures. Come January 2025, there will be more than 11% increase in the monthly obligation, with the students residing in London expected to show £1,483 per month (INR 1,62,722.62) and the rest of the students requiring £1,136 monthly (INR 1,24,647.94).

This change is expected to be felt by Indian students. Even though most young Indians have already been spending more than Rs 20 lakh (which is about £20,000) an year on tuition and living costs in the UK, the higher demands could enhance the strain on the budgeting of the households, in particular those that are less well off.

Take for example, a student who must pay a £20,000 tuition fee to attend a university located in London is now expected to provide evidence of having £33,347 in his or her bank account. This is made up of £13,347 for the living expenses cover for nine months, and £20,000 for school fees. A student attending a university outside of London is also required to show funds of £30,224 and £10,224 of this is for living expenses. These amounts must be in the individual’s bank accounts for 28 days straight before applying for a visa.

Although the new financial requirements are more demanding, they are reasonable considering the costs of living in the UK. Still, many Indian students find it pricy but still come to study in the UK because of the high standards of education, availability of work after study, and high chances of visa acceptance in the UK.

The UK however remains a prime high education destination and such a regulation is likely to be part of the changing face of overseas studies.