As a part of your Student visa application, you will need to prove that you have enough funds to cover the first year’s tuition fees and maintenance costs.
- Nationals from the list of 'low risk' countries are not required to submit financial evidence at the time of making the application. Please note that the UKVI case worker may still ask you to provide financial evidence at a later stage. We recommend all student to have these documents ready. Full list of countries which are exempt from providing evidence of financial requirements under ‘differential evidence requirement’ can be found via this link.
- You’ve had a UK visa for 12 months prior to the date of your Student visa application and you are currently in the UK
How much money do I need to show?
You must show that you have money to pay your course fees and living expenses in the UK. You must show that you have the first year’s outstanding tuition fees plus £1,023 for each calendar month of the course (for up to 9 months). These funds should be held in your account for a consecutive 28-day period ending no more than 31 days before the date of your application. If your funds are not in GBP, then please be aware that exchange rates fluctuate. We strongly advise you to have extra money in your bank account just in case.
Your course is 12 months long and your annual tuition fee is £12,800. You paid £7000 as a deposit and it is stated on your CAS letter. You will need to show: £12,800 – £7,000+ (£1,023x9) = £15,007
If you have booked and paid for on-campus accommodation provided by the University, you can discount up to a maximum of £1,334 from the total maintenance required. Your CAS letter should indicate the amount paid.
Your course is 36 months long and your annual tuition fee is £12,800. You paid £7000 as a deposit and it is stated on your CAS letter. You also paid £5000 for your on-campus accommodation provided by the University of Cumbria. You will need to show: £12,800 - £7,000 - 1,334 + (9 x £1,023) = £13,673
What documents can I use to prove my financial situation?
You can show the funds are available to you through:
- Bank account
- Student loan
- Evidence of official financial sponsorship
Funds may be held in any form of personal bank or building society account (including current, deposit, savings, pension from which the funds can be withdrawn or investment account) provided the account allows the funds to be accessed immediately. Your personal bank or building society statements must show your name, the account number, the financial institution’s name and logo and the amount of money available.
The bank account must be either in your name or your parent’s or legal guardian’s name. If your parent’s or legal guardian’s are sponsoring you, you will also need to provide a consent letter from them, allowing you to access the funds, and a legal document confirming your relationship: a birth certificate or adoption certificate.
The required level of funds must be held in the account for a consecutive period of 28 days, with the last day being within 31 days prior to your visa application.
Documents that are not accepted: funds held in other accounts or financial instruments such as overdrafts, shares, bonds, credit cards, pensions from which the funds cannot be withdrawn immediately, regardless of notice period.
If you provide a Student Loan Letter as a proof that you meet the financial requirement, it has to meet all of the following criteria outlined by the UKVI:
- Be dated no more than 6 months before the date of application
- Confirm the loan is a student loan provided to you by either the relevant government or a government sponsored student loan company or an academic or educational loans scheme
- Confirm there are no conditions on release of the loan funds other than a successful application to study in the UK
- Confirm the amount of the loan
- Confirm the loan is issued to you
- Confirm the funds will be available to you before you travel to the UK or paid directly to the student sponsor before you travel to the UK, with any living cost portion of the loan being made available to you by the time you arrive in the UK.
Evidence of official financial sponsorship
You can receive the official sponsorship from one of the below bodies:
- Her Majesty’s Government-sponsored programmes
- The applicant’s national government
- The British Council
- An international organisation
- An international company
- A university
- An independent school
If the amount you are receiving does not cover the full amount you are required to show, you will still need to evidence you hold the required funds by providing a compliant bank statement.
Please check Immigration Rules Appendix Finance for more details about meeting the financial requirement.