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- The proof of finances requirements for international students to study have increased, according to the UK government
- This means students who intend to study in London must now demonstrate that they have £1,483 per month
- International students must now demonstrate that they have the funds to cover their stay under the new regulations
Legit.ng journalist Zainab Iwayemi has 5-year-experience covering the Economy, Technology, and Capital Market.
The proof of finances requirements for international students to study have increased, according to the UK government.
Source: Getty Images
This means students who intend to study in London must now demonstrate that they have £1,483 per month.
International students must now demonstrate that they have the funds to cover their stay under the new regulations.
Beginning in 2025, the UK Home Office will increase the proof-of-funds criteria for student visas in order to account for inflation and the rising cost of living in the country.
The new rules require international students to show that they have the money to pay for their stay.
The Home Office claims that this increase ensures that all UK students can independently cover their living expenses and is in line with the financial needs of domestic students.
What this means
Students must now demonstrate that they have much more money available to cover living expenses as a result of these new requirements.
This means the monthly minimum for a typical nine-month program in London is now £13,348 (£1,483 if studying in London and £1,136 outside of London).
This marks an increase from the previous amounts of £1,334 for London and £1,023 for other cities in the UK.
The UK's education system is expected to become more resilient as a result of this policy move, but students from lower-income nations will find it more difficult to access.
Consequences
These modifications have consequences that go beyond specific students. International tuition is a major source of funding for UK universities, with students paying over £42 billion a year in fees, accommodation, and everyday expenditures.
Universities that depend on overseas tuition fees to sustain their programs and facilities may experience enrollment decreases as a result of the higher financial threshold, which could turn off potential students.
The UK must strike a delicate balance between controlling migration and preserving its standing as a leader in global education as it executes these new financial requirements.
In addition to potentially reducing the number of migrants, this approach may deter the very talent and diversity that the UK educational system cherishes.
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