Please note that the amount of money required to meet the finance requirement of the application is increasing. It will affect all applications made (submitted and paid for) on or after 2 January 2025.
Am I exempt from the 'finance requirement', or will I have to show a certain amount of money?
You will be exempt from the finance requirement and not have to show you have a certain amount of money, if on the date of your visa application, you will have lived in the UK with a valid visa for 12 months or more. If you meet this requirement, you will not need to meet the financial requirement. Please skip the rest of this section and go to section 7.
Please note that this exemption only applies to Student applications made in the UK; it does not apply to applications made outside of the UK, even if you have lived in the UK for 12 months or more.
How to meet the 'finance requirement' if you are not exempt
If you will receive official financial sponsorship from your government, or an international sponsorship agency:
If your sponsorship covers all your tuition fees and living costs (at least £1,023 per month of your course, or £1,136 per month if you apply on or after 2 January 2025) please skip the rest of this section and go to section 7.
If your official financial sponsorship does not cover all your tuition fees, or all of your living costs (less than £1,023 per month, or £1,136 per month if you apply on or after 2 January 2025), then you will need to cover the shortfall with your own funds as below.
If you or your parents will pay for your studies, you are 'self-funding':
You will need to prove to the Home Office that you have an amount of money that is equal to or more than the sum of:
- your outstanding tuition fees
- plus £1,023 per month of your course (or £1,136 per month if you apply on or after 2 January 2025) for your living costs, up to a maximum of £9,207 (£10,224 if you apply on or after 2 January 2025).
For example, if your tuition fees are £15,000 and your course is for three years you will need to have at least £24,207 (£15,000 for fees plus £9,207 for living costs) to meet the maintenance requirement of the visa. If you apply on or after 2 January 2025 you will require £25,224 (£15,000 plus £10,224).
The funds will need to be in your name, a parent’s name or if applicable, your partner's name, but only if they are applying at the same time as you or already have immigration permission for the UK.
If your funds are in a currency other than pounds sterling (GBP)
You will need to use the to convert them into pounds sterling (GBP). If your currency does not feature on OANDA, you will need to use the .
The Home Office uses the exchange rate on the date of your visa application to determine the amount of funds. You need to consider this if your currency is fluctuating against sterling at the time of your application. If this is the case it is safer to hold more money than required to guard against a depreciation of your currency against the pound at the time of your application.
If you have already paid money to the university for your tuition fees or halls of residence
You can deduct any tuition fees, including your tuition fee deposit, you have already paid to the university before you make the visa application from the amount of money you require.
For example, in the example above if your tuition fees are £15,000 per year and you have already paid the tuition fee deposit of £5,000, then you will need to have at least £19,207 (£10,000 for fees plus £9,207 for living costs). If you apply on or after 2 January 2025, in this example, you will need to have at least £20,224 (£10,000 for fees plus £10,224 for living costs).
Payments for university halls of residence but not privately rented accommodation can also be reduced from the total amount you need to show for your maintenance, but only up to a maximum of £1,334 (£1,483 if you apply on or after 2 January 2025).
For example, even if you have paid £4,000 towards your halls of residence you can only reduce the living costs you require by £1,334 from £9,207 to £7,873. If you apply on or after 2 January 2025 in this example you would be able to reduce the living cost requirement by £1,483 from £10,224 to £8,741 (£10,224 less £1,483).
Updating your CAS with a fee payment
Any payments for tuition fees or halls of residence you make before the date of the visa application must be shown on your CAS to be considered. To update your CAS please follow our updating CAS number with fee payments guidance.
Please note that although the university does accept payment of tuition fees by instalments, the Home Office requires the balance of the fees that you owe to be shown in your account, regardless of any arrangements you make with the university to pay fees in instalments.
Applying with your dependants?
If you are also applying for your dependants to remain in the UK with you and they are not exempt from the finance requirements, because they have been living in the UK for less than 12 months before the date of the application, the amount of money you will require is much higher. Please see section 10.
Using the funds after you apply for the visa
You should note that you are required to keep the required funds in your account until the date on which UKVI makes its decision on your application. The balance can be lower than it was on the date of application but only if you have used the funds for tuition fees, an accommodation deposit or other costs related to studying in the UK.
It is rare for UKVI to request bank statements on the date of decision but if they do you will need to show you have the same funds as on the date of application, or if the balance is lower, that you have used the funds as described above.