LAGOS, Nigeria(VOICE OF NAIJA)- Effective from the 2nd January 2025, the UK Home Office has announced that the monthly proof-of-funds requirement for student visas applicants have been increased to €1483 (about N3m) per month due to inflation and the rising cost of living in the UK.
An official document released by the UK Home Office stated that students in London will now pay €1483 per month from £1334 while students outside London will pay £1136 (about N2.4m) as opposed the previous £1023.
Furthermore, international students must now show they have sufficient ‘living’ funds throughout their stay in the UK. This change is to ensure that both local and international students can independently sustain themselves.
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For new student visa applicants, proof of funds is a compulsory document that provides assurance to immigration authorities that you are capable of taking care of yourself without external borrowing during your studies.
Family Sponsorship, Personal Savings, Impact on Nigerian Students, Scholarship, Educational Loan are acceptable proof of funds (POF) sources.
In 2022/2023, 53,970 Nigerian students were admitted to UK universities accounting for about 6.5 percent of international students placing us behind china and India.
This move is expected to curb the increase of Nigerian students pursuing studies in the UK. With the Naira falling everyday against the pound, many families will definitely find it increasingly difficult to provide tuition and support living expenses under this new rule.
This adjustment highlights the importance of financial preparedness and the need for support systems to enable access to global education opportunities despite economic hardship.
The Okunola Report
