Having sufficient funds available to pay for your tuition and living expenses is the most crucial factor in a visa officer’s decision when granting a U.K. Student Visa. This is referred to as the maintenance test. The Home Office stipulates that you at least one (1) year of financing for your tuition and living expenses in your bank account. Your tuition fee will be stated on the Confirmation of Acceptance for Studies (CAS) letter.
If you are studying in London, you will need £1,334 per month, or if you are studying outside of London, you will need £1,023 per month.
- If you paid a deposit towards your tuition fee, the money you paid to the university will be stated on your CAS letter. You can deduct this from the total amount you need to show for your tuition and living expenses on your bank statement. For example, if the program that you plan to study tuition fee is £15,000 per calendar month and your living expenses is £1,334 per calendar month, that means that you would have £15,000 + (£1334 x 9 months), which accumulate to £27,006. That means that you should have £27006 in your bank account for a period when you apply for a UK visa.
- If you have made a payment towards your accommodation before applying for your student visa, you can deduct £1,334 from your living expenses. Even if you have paid more than £1,334 towards your accommodation, the UK Home Office will only deduct £1,334 from your living expenses and you will have to show the remaining amount for your living expenses. For example, if your living expenses is £12006 and you paid £2000, the Home Office will deduct £1,334 from your living expenses and you will have to show the remaining amount will be which would £10,741.
The required amount that you must be in your bank account for your tuition and living expenses must be in your bank account for a continuous period of 28 days when you apply for the student visa. The money in your bank account must not fall below the required amount for your tuition and living expenses during the continuous 28-day period. Otherwise, you will be denied.
The amount you need to show for your finances should be in Pound Sterling (GBP). If you are using a currency other than GBP, you must convert it into GBP and write the equivalent amount on your application. The UK Home Office uses the following website for currency conversion: www.oanda.com/convert/classic.