If you are applying for a visa extension inside the UK and the below two rules apply, you will not need to show financial documents:
- You have had a valid visa for 12 months or more, and
- If you have not spent three months or more outside the UK in the last 12 months.
If you are applying for your visa from overseas or are in the UK and have had your visa for less than 12 months you will need to show:
- Any outstanding BU course fees according to your CAS, and
- The living costs of £1,136 for every month left of your course, up to a maximum of nine months. If you have nine months or more left of your course you would need to show £10,224.
The living cost amount for each Dependant of a Student visa applicant is £680 for every month of visa they get, up to a maximum of nine months, which is £6,120 for the maximum nine months.
Those funds must have remained in the bank for a consecutive period of 28 days, and the most recent date that the funds are still showing on the bank statement or letter must be within 31 days of you paying and submitting your visa application (note: this date is not the Visa Application Centre appointment date). Your funds must also remain in place until the visa decision is made as the Home Office could check with the bank before they make their decision.
Students of certain nationalities are not required to submit financial documents at the time of applying under the ‘differential evidence requirement’. However, funds should still be available and documents prepared as above before the visa application is submitted because the Home Office could request to see them before they make a decision.
Official financial sponsorship if you are sponsored by a government or scholarship agency you would need to provide a sponsor letter in your visa application – funds do not need to have remained in account for 28 days.
Educational loans can also be used to prove you will be able to support yourself during your studies. The loan must be in your own name (i.e. cannot be joint loan).
Funds held in foreign currencies, i.e. not in British Pound Sterling (GBP), are still acceptable. Unless the relevant UKVI financial requirements caseworker guidance says otherwise, the exchange rate needs to be checked in the OANDA currency converter – please note that the current guidance version 8.0 does mention this for the Iranian Rial (IRR), the Syrian Pound (SYP) and Mongolian Tugrik (MNT). Remember that the exchange rate must be checked for the day your visa application is paid for and submitted, and not for the days that are showing on your financial document. Therefore, we highly recommend that funds are kept in a stable currency and/or more than the required amount to avoid issues with exchange rates changes.
Parent/legal guardian financial documents
In the Student visa application, you can either use your own account to show the funds or you can use your parents/legal guardians. You cannot use any other relatives. If you use your parents account, you will need their bank statements/letter, your birth certificate and parent consent letter.