UK Student Visa Financial Requirements
Financial evidence is an important part of preparing for a UK Student Visa application. Students must ensure that their financial documentation meets the applicable requirements and that the required funds are maintained for the required period.
How Much Money Needs to Be Demonstrated?
Students need to demonstrate the required tuition fees shown on their Confirmation of Acceptance for Studies (CAS) together with the required living costs.
According to the YC Overseas visa guidance, the living-cost requirement is based on nine months of living expenses:
- Inside London: £13,761 (£1,529 per month)
- Outside London: £10,539 (£1,171 per month)
Tuition Fees
The tuition fee amount entered in the visa application should match the tuition fee information shown on the CAS.
Where a course lasts more than one year, the CAS should indicate the applicable first-year tuition fee separately.
28-Day Financial Requirement
Where savings are being used as financial evidence, the required funds should generally be maintained for the required 28-day period.
The bank balance certificate and supporting bank statement should demonstrate the required financial history.
Acceptable Sources of Funds
The YC Overseas guidance identifies several sources that may be used to demonstrate the required funds, including:
- Education loans
- Savings
- Bank accounts
- Fixed or term deposits
Education loans may be held in the student’s name or jointly with parents, subject to the applicable requirements.
Using Parents’ Funds
Where parents’ funds are being used, the required supporting documentation should be provided.
Where funds are held in another family member’s account, the applicable requirements should be carefully checked. The supplied YC Overseas guidance specifically notes that grandparents, uncles and siblings cannot directly sponsor funds in the same way and may need to transfer funds to the student’s account.
Important Financial Evidence Points
- The required funds should be maintained for the applicable 28-day period.
- Bank statements and balance certificates should support the required amount.
- Recent transactions should be checked before submitting the application.
- Fixed or term deposits should meet the applicable requirements.
- Education loans may be accepted subject to the applicable conditions.
NHS Health Surcharge
The Immigration Health Surcharge (IHS) is mandatory for eligible applicants. The supplied YC Overseas guidance states that the surcharge starts at £776 per year and is payable upfront as part of the visa process.
The NHS surcharge payment is linked with the UK visa application process. The visa application cannot be accepted without the required surcharge payment where applicable.
Prepare Your UK Student Visa Carefully
Financial documentation is only one part of the UK Student Visa process. Students should ensure that their CAS, academic documents, financial evidence and other supporting documents are prepared correctly before submitting their application.
YC Overseas can help students understand the UK Student Visa requirements and prepare for their study abroad journey.