Financial Requirements for a UK Student Visa Application

After waiting for a decision on your college application, you have finally received an acceptance letter from your university. The only task left is to apply for a UK Student Visa. Students may find the UK visa application process difficult if they are unsure of the process. 

An important step for students is proving they have the financial means to support themselves throughout their studies. While your application for a UK Student Visa can be rejected for several reasons, the main cause is that students cannot show sufficient money for a UK Student Visa. Students can work with study abroad consultants to ensure they have all the necessary documents to prove financial eligibility for the UK Student Visa.

UK Student Visa Requirements for International Students

Students should learn the step-by-step process of applying for a UK student visa to know what to expect. When you receive an unconditional acceptance letter from your dream university, you can start the UK study visa application process. An unconditional offer letter means that you have met all the requirements. You can pay the first semester’s fees to guarantee your admission to a UK university. The next step is to get a Confirmation of Acceptance for Studies (CAS) from your Student Sponsor. The UK Visas and Immigration (UKVI) will only accept Indian student visa applications to the UK if your university is a registered education provider licensed to sponsor students. 

To get a UK Student Visa, you need to meet three main criteria - a letter of acceptance, financial eligibility, and English proficiency. The UKVI judges your application on a point-based system and students will receive a visa if they can score 70 points. 50 points are awarded if the student has received an acceptance letter and paid the first semester fees. Students are expected to submit a Confirmation of Acceptance for Studies as proof that they meet the England study visa requirements. 

What are the financial requirements to obtain a UK Student Visa? 

Students going abroad need to prove that they have enough money to fund their studies and afford the cost of living in London or other cities in the UK. The UKVI maintains that students should show enough money when applying for UK Student Visa to pay for their course for at least one academic year (or up to nine months). Students can refer to the Confirmation of Acceptance for Studies for the amount they need to pay. 

One of the main requirements for a UK visa is a bank statement showing around £1,334 per month for nine months if your university is in London. Your bank statement can reflect a lower sum of £1,023 per month for nine months if your course is located in cities outside London. The UK Study visa process enforces a 28-day rule that requires you to maintain this amount for at least 28 successive days. The last day of this 28-day timeline must fall within 31 days from the date of your visa application.  

 When are you exempt from showing money for a UK Student Visa? 

There are certain cases where a student is not required to prove that they have the funds for their course. This may occur in the following scenarios:

• The student is in the UK and already holds a Tier 4 (General) Student Visa for 12 months before applying
• Students applying as a student union sabbatical officer do not need to show money. This position can be used to help sponsor your study abroad for nearly two years. Students are elected for leadership roles within a student union and act as the representative of the students at your university.
• Exceptions can be made for students applying to postgraduate dentist or doctor programs from recognized universities. 

 What are the UK student visa costs that need to be paid? 

When applying for a student visa, application costs, and UK visa fees for students should be added. Students applying for a visa to the UK have to pay an Immigration Health Surcharge and UK visa fees. Visa application fees may vary based on where you are applying from. If students are sending visa applications from outside the UK, the visa application fee will be £490. Priority and Super Priority Services come at a higher cost. If you are applying for a student visa within the UK, the standard service cost is also £490. The Priority service reverts in five days with their decision from the date of enrolling your biometrics and verifying your identity. The cost of this service is £990.

The Immigration Health Surcharge also needs to be paid during the visa application process and costs about £776 for every year the student spends in the UK. The amount you need to pay for the Immigration Health Surcharge depends on the duration of your stay. If you are taking a language course of around six months, you can expect to pay £388 for the Immigration Health Surcharge (IHS). The Immigration Health Surcharge is a mandatory part of the UK embassy fees for student visa as it allows students to avail of free healthcare services from the NHS during their stay in the UK.

Documentation to prove eligibility for UK Student Visa

Students are required to provide documentation to show that they have sufficient money for a UK Student Visa. Your bank statements should reflect a sum that can cover your monthly living expenses as well as the cost of the course you plan to study. This sum should be enough for at least one academic year or nine months. Many applications for UK student visas are rejected because students are unable to provide the relevant financial documents to prove that they can financially support themselves. While organizing your folder of documents required for UK student visa applications, ensure that you include the following to prove you can fund your study abroad:

• Confirmation of Acceptance for Studies (CAS)

Your CAS can be included as proof of financial security during the UK study visa process. It provides a detailed reference for visa applications including the tuition fees you need to pay for your course, and the amount that you have deposited as your acceptance of the university’s admission offer. The CAS may also feature any scholarships, bursaries, or stipends that the University will provide the student. The payments already made will be deducted from the total amount that you need to show in your bank statement. 

Your living expenses, external scholarships, and accommodation costs are not included in the CAS, and separate documentation must be provided. For example, if you have received a scholarship from the University of Nottingham, the scholarship amount and tuition fees paid will appear on the CAS. However, proof of your living expenses and Nottingham student accommodation costs will need to be shown separately. 

• Bank Statements

UKVI only accepts bank statements from banks and recognized fiscal institutions. Students can include their bank statements or their parents’ statements showing the total funds necessary for their stay for at least 28 days before applying for a UK student visa. 

• Evidence of sponsorship

If you plan to fund your education abroad via scholarships, a sponsorship letter must be in the UK visitor visa documents. This is applicable if students have received scholarships from official sponsors such as your country’s government, the UK government, international scholarship organizations, or companies. The sponsorship letter should include the name and contact information of your sponsor, the amount of sponsorship, and the period for which the funding is applicable. 

• Student Loans

If you apply for a student loan to fund your education in the UK, you need an official letter from your loan provider confirming the status of your loan within six months from your visa application date. 

Frequently Asked Questions

How much bank balance is required for a UK student visa in rupees?

Students are required to maintain a bank balance of a minimum of £1,334 per month or nearly 1.5 lakhs per month in Indian rupees. Your bank statement should reflect enough money to cover at least nine months of your stay in the UK.

How much guarantee money to show for a UK student visa?

Students need to show enough money to cover the cost of living, accommodation, and their tuition fees. As such, they are required to show at least £1,334 for each month they stay in London or £1,023 for every month if they are studying in cities outside London. 

How much bank statement for a UK student visa from Pakistan?

Students applying for a UK Student Visa from Pakistan are expected to show enough money for nine months of their living expenses and total tuition fees. The UKVI estimates that students in London will need to show roughly £1,334 per month and require students to show this sum in their bank statements. 

What is the average processing time for a UK student visa?

A UK Student Visa will be processed over three weeks if you are applying from outside the UK. Students outside the UK can begin the application process as early as six months before the start of their course. If you are applying from within the UK, you can begin the application procedure three months before the start of your course. In this case, your visa will be processed within eight weeks.