Indian students who are looking for a top-notch education, international exposure and a nice cultural experience have long cherished the UK. However, the British government plans to increase the minimum maintenance funds that candidates for student visas must exhibit starting in January 2025. Starting January 2, 2025, international students applying for UK visas will face higher financial requirements. This change is part of the UK government’s response to inflation and rising living costs. This change, announced on September 10, 2024, represents the UK’s commitment to keep up with inflation and rising living costs, but it could weaken students’ financial planning – particularly those from India, one of the largest student groups in the UK. Having enough money in their bank account has always been a crucial necessity for students hoping to study in the UK to get a student visa.
Money serves the purpose of supporting the student’s living expenses while they are enrolled in the course. Currently, before applying for a visa, applicants must show they have a certain amount available for 28 days. The amount assigned depends on whether the student will be studying in London or somewhere else in the city.
New Financial Requirements
From 2025, students must demonstrate they have sufficient savings to cover living expenses for each month of their course, for up to nine months. The financial requirements depend on the location of the study.
• In London: Students must show they have GBP 1,483 per month.
• Outside London: Students need to prove they have GBP 1,136 per month.
This is an increase from previous amounts of GBP 1,334 for London and GBP 1,023 for other parts of the UK Total Savings Required
Students planning to study in London for nine months or more now need to show GBP 13,348 in savings (calculated as GBP 1,483 per month for nine months). This adjustment is intended to reflect the UK’s current cost of living.
The Way Forward
Although the rise in maintenance fees can seem like one more obstacle, given the rising cost of living in the UK, it is a necessary adjustment. The majority of Indian students will not view the increased financial needs as an inaccessible obstacle, but rather as a representation of the true cost of studying abroad. The majority of Indian applicants should be able to comply with the new regulations with adequate preparation and financial management.
With its top-notch education and varied post-study options, the UK remains a popular choice for Indian students, thus this financial adjustment will probably be accepted as part of the overall cost of getting a degree in one of the world’s most well-known educational hotspots.
Bringing Dependents
Under the new system, only postgraduate students and those enrolled in government-sponsored courses will be allowed to bring dependents, such as a spouse or children. Undergraduate students will generally not have the option to bring dependents.
This policy change marks a significant shift in the visa application process for international students, highlighting the growing financial burden of studying in the UK.
