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How to meet the "financial requirement" for UK Student Visa?

Updated: Aug 31, 2022

Got accepted to your dream Uni in the UK? Got your CAS? The next step is to apply for your Student (Tier 4) Visa.


Associated with this visa are some financial requirements. If this is your first time applying for a visa, it's only natural that you'll have a lot of doubts and questions about this section of your visa application.


But don't worry, it is fairly straightforward and this should help clear up most of your queries. Do keep in mind that all amounts mentioned here are for just the student and does not take into account any dependents (spouse, civil partner, unmarried partner or child under 18 years old).


There are two broad sections of the financial aspect of applying for a UK Student Visa: Fees and "Money you need".


1. Fees


The Fees section can again be divided into two:


1 A. Visa Application Fees:

This is the actual cost of the visa that you have to pay. This can vary based on if you are applying from within the UK or from outside the UK.


If you are applying from outside the UK, the fee is £363.


On the other hand, if you are applying from inside the UK either to extend your existing Student Visa or to switch from a different type of Visa, the fee is £490.


2 B. Immigration Health Surcharge

This is a mandatory part of your visa application and this fee goes towards access to the public health services (NHS) during your stay in the UK. It is important to note that you have to pay this fee irrespective of if you have any other medical insurances and it is non-refundable even if you have not accessed any public health service during your stay in the UK.


Unlike the Visa Fee, IHS is calculated based on the duration of your stay and can vary depending on your age. You can calculate your IHS using this link: Calculate Immigration Health Surcharge.


2. "Money you need"

This part accounts for your course fees as well as the money required to support yourself.


2 A. Course Fee


While applying for your student visa, you need to show that you have sufficient funds to pay your course fee for up to 1 Academic Year as shown in your CAS.

This means that even if the total duration of your course is more than 1 year, you are only required to show sufficient funding to cover fees for 1 academic year while applying for the visa.


Note: If you’ve been in the UK with a valid visa for at least 12 months, you do not need to prove you have this money for your visa application.


2 B. Money to Support Yourself


Further, you need to show the UK government that you have sufficient funds to support yourself, in terms of living expenses such as food and accommodation. You have to show that you have sufficient funds to support yourself for at least 9 months.

The amount required per month varies depending on where you will be studying.


If your course is in London (The City of London and the 32 London boroughs) you will need £1,334 per month for up to 9 months amounting to a total of £12006.


If your course is outside London you will need £1,023 per month for up to 9 months amounting to a total of £9207.

Note: You do not need to prove the financial requirement if:

  1. you’ve had a UK visa for 12 months prior to the date of your Student visa application - you must currently be in the UK

  2. you’re applying as a student union sabbatical officer

  3. you’re applying as a postgraduate doctor or dentist on a recognised foundation programme

Even though the government only requires you to show sufficient funding to cover the 1st academic year and the first 9 months of living expenses, I would strongly recommend you make arrangements for enough funds to cover the entire course fee as well as living expenses for the entire duration of your course. This will ensure that you don't run into any hassle arranging funds in the last moment which may result in you being unable to complete your course which will lead to further complications with the UKVI.


Proof of Funds:


Now that you know what are the funds required to apply for your UK Student Visa, let's take a look at how to show the proof of funds while applying for the Visa.


There are 3 methods by which you can do this:

1. Bank Statement: You can show bank statements, dated no more than 31 days before the date you apply for the visa, proving that you have sufficient funds to cover your course fee and your living expenses for the first 9 months.


This can be shown in your local currency and should be in your bank account for at least 28 consecutive days before you apply for your visa.


For example: If you submit your application on 1 January 2021, you’d have to show that the funds were in your bank account for at least the 28-day period ending on 1 December.


Your funds can be held in any form of personal or building society account including a:

  • current account

  • deposit account

  • savings account

  • pension savings

  • investment account

Cash must be in an account that allows you immediate access.


If you’re using your own money, or that of a parent or partner you’ll need to show you have the required amount of money in an account. You can provide:

  • bank statements

  • building society passbooks

  • certificates of deposit

  • a letter from your bank or building society

Your bank statement should show information like:

  • the date it was issued

  • your name (or the account holder's name if it is your parent or partner)

  • the name of the bank or building society

  • balance on the account

You can provide a download of electronic bank statements as long as it has this information. You do not need to have these stamped by the bank.


Since the conversion rates between your local currency and GBP can vary during these 28 days, it is a good idea to account for 5-10 per cent more than the required amount in your local currency. This will also be beneficial if the British Pound gains value further down the lane in which case you won't have to worry about coming up with the difference amount to fund your course or cost of living.

2. Student Loan: If you have a student loan or a financial sponsorship, you can provide evidence of this in the form of a sanction letter confirming the same.


To use your loan in a visa application, you must provide a letter from the loan provider which includes:

  • Your name

  • The date of the letter

  • The name and logo of the institution providing the loan

  • Confirmation that the money is available to you as a loan

  • Confirmation that the loan is provided by a government, or through a government-sponsored student loan company educational loans scheme

  • The letter needs to confirm that the financial institution that has issued the loan is regulated by the official regulatory body for the country the institution is in and where the money is held.

A sample loan letter provided by the University of Greenwich is attached here for your reference: UKVI-Student-Visa-Example-Loan-Letter.pdf (gre.ac.uk)


3. CAS

CAS is an electronic document issued by your university which confirms your acceptance into their programme along with some other important information including your course fee and Tuition Fee paid.

You must submit your CAS during your visa application. However, if you have paid any amount towards your tuition fee, that will be reflected in your CAS and can be used as proof of funds for that part of the tuition fee.


This is particularly useful if you find yourself in a situation where you have to apply for your student visa without having sufficient time to deposit your funds in your bank account for 28 days.


You can pay up to 100 per cent of your tuition fee for Year 1 and ask for an updated CAS (most universities will issue an updated one within a couple of days). Now you can use the updated CAS to show proof of fund towards your academic fees and your sanction letter (if you have a loan or financial sponsorship) should cover your living expenses.



All information provided here are accurate at the time it was published. However, immigration rules can be changed or updated at any time and the best source of latest information regarding UK Student Visa is Student visa : Overview - GOV.UK (www.gov.uk).


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