The UK Home Office has announced a significant increase in the financial maintenance requirements for international students, the first adjustment since 2020. The new regulations, which will take effect from January 2, 2025, reflect the rising cost of living and inflation in the UK, and will apply to students applying for visas to study in the country.
Under the updated rules, international students intending to study in London will need to demonstrate savings of £1,483 per month. Students studying outside London must show evidence of £1,136 per month in savings. This is an increase from the current requirement of £1,334 per month for London-based students and £1,023 for those outside of London.
To secure a visa, students studying in London for a course of nine months or longer will now need to show a total of £13,348 in savings, while those studying outside the capital will need £10,224.
The changes are aimed at aligning international student requirements with the financial support available to domestic students. However, some experts are concerned that the increased costs could make the UK a less attractive study destination, especially for students from lower-income countries.
Syed Nooh, Head of Global Insights and Market Development at the University of East Anglia, explained, “While the rise in maintenance requirements is understandable given inflation and the rising cost of living, the UK risks positioning itself as a less accessible option, particularly for students from developing countries.”
Other experts echo this concern, noting that the increase comes amid other changes impacting international students. Nick Skeavington, Head of International Student Recruitment at the University of Exeter, pointed out, “This is part of a wider trend, including visa policy changes for dependents, affordability challenges in key markets, and a significant increase in the NHS surcharge this year.”
The NHS surcharge for students rose by 66% to £776 annually earlier in 2024, further adding to the financial burden faced by international students.
Despite these changes, the government has maintained that certain students can still “offset” their maintenance fund requirements if they have paid deposits for UK accommodation. Additionally, those who have been in the UK for 12 months or more on another visa route will not need to show proof of savings.
While the new rules ensure that students have the necessary financial support to avoid hardship during their studies, they could also limit opportunities for students from developing countries. This may have a long-term impact on campus diversity in the UK.
The government has stated that financial requirements will continue to be reviewed and adjusted regularly in line with inflation and the maintenance loans provided to domestic students.
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Conclusion
With rising tuition fees, increased NHS surcharges, and now higher maintenance fund requirements, the UK’s accessibility as a study destination may be called into question. As other countries actively recruit international students, the new financial demands could shape the future of international student recruitment to the UK.
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