Travelling abroad for studies is indeed an expensive affair. Anyone applying for a student visa or a student work visa needs to have enough money to pay for the course fees, living costs, and other expenses – also known as the maintenance of the financial requirement. Every country has their own immigration laws, and one must fulfil each of its requirements to get a green flag. Generally, one is required to submit financial documents to show that you are capable of meeting the financial needs yourself in their country.
International students planning to come to the UK for studies are required to follow the UK student visa process to get the visa if they are starting a full-time degree course. While applying for a tier 4 visa to study in the UK, you will be asked to submit evidence that you or your parents/guardian have enough money to manage your course and living expenses.
Tier 4 Visa Financial Requirements
The eligibility of students applying for a visa is calculated using a point-based system. The financial requirements for a Tier 4 visa make up for 10 points out of the 40 points required. Therefore, it is imperative to understand how much money you need at hand and the proof to show that you have the needed money to support yourself during your stay in the UK.
Apart from the UK visa interview, financial documentation is also one of the most common reasons for the refusal of a Tier 4 student visa application. As part of the application for the visa, you must have proof that:
You have either paid your tuition fees for the year in advance or have funds available to pay the fees.
You have money to cover your living expenses for up to 9 months in the UK. For students living in London, these expenses are set at £1,265 per month.
UK Visa Interview Purpose
All the applicants applying for Tier 4 visa or a student work visa from overseas are likely to have an interview. Even the ones applying from within the UK may also need to appear for an interview. The main purpose of the UK visa interview is to ascertain that the applicant’s intentions are genuine to study in the UK. During the interview, you may also be expected to demonstrate that your English language skills are sufficient to participate in your chosen course and the level of study. Anyone appearing for the interview is recommended to do some research to prepare for the interview.
Documents for Tier 4 Visa Financial Requirements
Before you pack your bags to fly to the UK, you must make sure your documents are ready to fulfil the financial documentation required to obtain the Tier 4 visa. These documents include:
Money held in personal / savings account: You are required to hold a fixed amount of money in the approved bank for a minimum of 28 days, ending no more than 31 days before your application. This account should be in your name or your parent/guardian’s name, or it can be a joint account. The financial documents can include your bank statements and a letter from your bank.
Official financial or government sponsorship: You are able to use evidence of an official sponsorship provided that your sponsors are one of the following:
- A government
- The British Council
- An international organisation or an international company
- A university or an independent school
You will be required to obtain a letter from either of the above-mentioned sponsors to confirm your sponsorship details.
A loan agreement: You can show proof of funding with a loan arranged with a regulated financial institution. The Home Office does not accept loans arranged privately.
Certificate of fixed deposit: You can show evidence of your fixed deposit or a sum of money invested for a specified time period.
How can Osbourne Pinner help you?
At Osbourne Pinner, we are a team of highly qualified law solicitors in London. If you are looking for legal assistance in your visa applications or have queries regarding immigration laws, then you can connect with our team of lawyers. Fulfil your dream of studying in the UK with us! Book an appointment today for our legal consultation!