The UK Home Office has announced an increase in the monthly proof-of-funds requirement for student visa applicants, effective January 2, 2025.
New Requirements:
- London: £1,483 (approximately N3 million) per month (up from £1,334)
- Outside London: £1,136 (around N2.4 million) per month (up from £1,023)
Impact on Nigerian Students:
- Nigerian students represent 6.5% of the UK’s international student population.
- The increased requirement may reduce the number of Nigerian students pursuing education in the UK due to the Naira’s depreciation against the pound.
Acceptable Sources of Proof of Funds:
- Personal savings
- Family sponsorship
- Scholarships
- Educational loans
The change aims to ensure international students can financially sustain themselves while studying in the UK.
Source: Vanguard
