To apply for a Student visa, you must be able to show you have enough money to pay for your course and to pay your living costs in the UK.
The money can come from one or more of the following sources:
- Cash funds in the bank. This includes savings accounts, current accounts, deposit accounts, investment accounts and pensions savings, even when notice must be given. Company accounts are not acceptable.
- Official financial or government sponsorship or grant.
- A student loan from a government, government sponsored loan company, or a regulated student loans scheme.
Other accounts or financial instruments such as stocks and shares, bonds, overdrafts, credit cards, bitcoin savings and pension funds are not acceptable, regardless of notice period.
UK Visas and Immigration (UKVI) have confirmed they will accept funds that are frozen in a certificate of deposit.
How to calculate your costs
You need to have enough money to pay your outstanding (first year) tuition fee and your living expenses.
Living expenses are £1,023 per month for a maximum of nine months (£9,207 in total).
If you are studying for less than nine months, you only need to show the amount for the number of months you are studying. For example, if you are studying a six-month course you only need to show £1,023 six times (£6,138 in total).
If you have paid some or all of your tuition fees, you can deduct this from the overall amount. For example for a nine-month course:
- If your tuition fees are £22,500 and you have paid £1,500 you will need to show £30,207 in total (£21,000 for tuition fees, plus £9,207 for living costs).
- If you have paid all your tuition fees then you only need to show your living expenses of £9,207.
Evidence you can provide
Cash funds in the bank
If you are paying your costs through cash funds in the bank, you can provide either a bank statement or letter from the bank as evidence. It must show the following information:
- Your name or your parent’s name
- Your partner’s name if your partner is present in the UK or applying for their visa at the same time as you
- Bank name and logo
- Full account number
- If you are using a bank letter, it must show the date of the letter (which must be no older than 31 days on the date you pay online for your visa)
- The money you have in your account. This amount must be enough to cover your tuition fees and living expenses.
- If you are using a bank letter, the letter must confirm that these funds have been held for a consecutive 28 day period
- If you are using your parent’s account, you must also submit your original birth certificate and a letter from your parents confirming they are funding your studies in the UK.
- Official translations will be required if your documents are not in English
You can provide downloads of electronic bank statements as long as they contain the information listed previously. You do not need to have these stamped by the bank.
UKVI may do verification checks with your bank. If UKVI cannot verify the funds your application may be refused.
Official financial sponsorship
If you are paying your costs through official financial sponsorship, you must provide a letter from the sponsor including:
- Your name
- The name and contact details of your official financial sponsor
- The date of the letter
- The length of your sponsorship
- The amount of money the sponsor is giving to you or a statement that your official financial sponsor will cover all of your fees and living costs.
This letter must be on official letter headed paper (copies or scanned copies are not allowed).
If you are paying your costs through a loan, you must provide a letter from a regulated financial institution confirming:
- Your name
- Date of the letter (which must be no more than six months old before the date of application)
- The amount of money available as a loan
- That the loan is provided by either the relevant government, a government-sponsored student loan company or an academic or educational loans scheme
- There are no conditions on release of the loan funds other than a successful application to study
- The funds will be available to you, or paid directly to the sponsor, before you begin your course
Studnets of certain nationalities are not required to submit their financial documents with their application. Check if your nationality is exempt to see if this applies to you.
However, you should still hold the required level of funds as UKVI reserve the right to request evidence of funds.