UK Government increases proof of monthly living expenses for foreign students from £1,334 to £1,483

Friday, September 13, 2024 - The UK government has announced a significant increase in the financial requirements for international students, effective from January 2nd, 2025. This marks the first adjustment to the financial thresholds since 2020, reflecting rising cost-of-living expenses across the UK.

Under the new rules, international students will need to demonstrate that they have sufficient funds to cover their living expenses for up to nine months. The financial requirements vary depending on whether students plan to study in London or outside of the capital:

Studying in London: Students will now need to show evidence of having £1,483 per month, up from the previous £1,334, representing an 11.2% increase.

Studying Outside London: Students must prove they have £1,136 per month, up from £1,023, reflecting an 11.1% increase.

These adjustments aim to align the financial requirements for international students with the maintenance loans available to domestic students, with the last financial review taking place in 2020.

To meet the new financial threshold, students intending to study in London for nine months or more will need to show a total of £13,348 in savings, based on the new monthly requirement of £1,483.

Reports confirm that the UK government made these changes to keep pace with inflation and rising living costs. The increased financial requirements are intended to reflect the growing cost of living in the UK, ensuring that international students can support themselves during their studies.