Student visa - Money

Example 1: You are a new MSc Finance and Investment student. Your tuition fees are £15,500 for the whole 1 year programme. You have paid £2,000 tuition fee deposit.

You will need to show:

£15,500 - £2,000 = £13,500 for tuition fees
            +
£9,207* (£1023 x 9 months - remember, 9 month maximum) for living expenses 

TOTAL: £22,707

*Please note that the £9,207 figure will be rising to £10,224 for applications submitted on or after 2^nd January 2025.

Example 2: You are a new INTO Pre-sessional student. Your course dates are 4 July - 9 September. You need to show living expenses for every month (or part month) of your course, so for visa purposes your course is 3 months long. Your course fees are £3,300 but you have paid them all. You have also paid £2,060 for accommodation.

You will need to show:

£3,300 - £3,300 = £0 to show for course fees (you have paid them!)
           +
£3,069 (£1023* x 3 months) - £1,334** = £1,735

TOTAL: £1,735

*Please note that the £1,023 figure will be rising to £1,136 for applications submitted on or after 2^nd January 2025.

**Please note that the £1,334 figure will be rising to £1,483 for applications submitted on or after 2^nd January 2025.

Example 3: You are a PhD student who has already started your first year. Your tuition fees are £11,100 and you have paid £3,700 for the first term. You are living in a rented house off campus and have paid the landlord £6,000 for the whole year.

You will need to show:

£11,100 - £3,700 = £7,400
             +
£9,207* (£1023* x 9 months, remember you cannot deduct private accommodation!)
TOTAL: £16,607

*Please note that the £1,023 figure will be rising to £1,136 for applications submitted on or after 2^nd January 2025. So Living expenses in this situation will be £10,224

You are officially sponsored if your government, an international company, a University (including Exeter), or a scholarship provider pays for your studies.

If you are sponsored by the University of Exeter with a studentship, this will be described on your CAS and you will not need a letter.

If your official sponsor pays for only part of your costs you must supplement the letter with a bank statement or letter. You cannot rely on the same money twice, so it must be clear that this money has been received from a source other than your sponsorship.

If you have completed a course in the UK within the 12 months preceding your Student visa application AND you had official financial sponsorship from a government or international scholarship agency covering both course fees and living costs, you are required to provide a letter from your sponsor giving you permission to a further application for permission to study in the UK. If you have a letter confirming official financial sponsorship from the same sponsor for your new course this should be accepted by UKVI as permission.  

Sponsor letter

The letter should:

• be dated and printed on official letterheaded paper
• include the name and contact details of the sponsor
• show your name and confirm the duration of the sponsorship 
• confirm the amount of money provided or state that the sponsor will cover all the tuition fees and living costs for the programme (if specified).

Example Sponsorship Letter

The money must be cash funds held in an account that allows you immediate access. The money can be held in a personal account including a current or savings, deposit or investment account in your name or that of your parent. Joint accounts in your name and one other named individual are acceptable. You must hold the money in the account for at least the 28 days before you submit your Student visa application (see below). You can use your bank account during the 28 days but the balance must not fall below the required amount.

Your bank document must show the transactions and balance during the 28 day period. The date on your bank document may be up to 31 days before the date of application but the money must remain in your account until the date of application.

Full details of the financial requirement can be read on the UKVI website.

Date of application

• For applications made inside the UK: the date you submit your online form
• Applications made outside the UK: the date you pay the application fee (online or at a visa application centre)

Currency

If the currency is not in British Pounds (GBP), you should check the conversion of the final balance on the Oanda website on the date of application and write this on the bank statement.

Acceptable financial institutions

Bank statements 

Your bank statement should:

• show the date it was issued. This must be no more than 31 days before the date of application
• show the money has been held for 28 days
• include at least your name or the account holder's name, account number and all transactions over the 28 day period
• be on original stationary or electronic record and show the name of the bank
• be in English – you will need an official translation in addition to the original if it is not.

 Example bank statement

Parents’ bank account

If you use your parents’ bank statements, they must meet all of the above rules (you cannot submit payslips or proof of property instead, for example) and you must also include:

• your birth certificate with an official translation if it is not in English
• a letter from your parents (in English) confirming that the funds in their bank account will be used to pay for your tuition fees and living expenses

Example Parental Consent Letter

Bank letters

If your bank statement does not meet the above rules you can request a letter from the bank instead. A bank letter should:

• include your name or account holder's name and account number
• include the date of letter (no more than 1 month old)
• include the bank’s name
• clearly state the amount of money in the account
• confirm that the required amount has been in the account for at least 28 days.

Example Bank Letter

Certificates of deposit

This is a document issued by a bank which confirm a deposit of money and needs to meet the following rules:

• must have been issued within 31 days of the date of application
• at least 28 days must have elapsed between the date of the deposit and
• it must include the date of issue of the certificate

Only loans provided by your national government, state or regional government, a government sponsored student loan company or an academic or educational loans scheme are acceptable.

Student Loan Letter

The loan letter must:

• be dated no more than 6 months before the date of application
• be on official stationary
• confirm the loan is a student loan provided by either the relevant government or a government sponsored student loan company or an academic or educational loans scheme
• confirm there are no conditions on release of the loan funds other than a successful application to sutdy in the UK
• confirm the amount of the loan
• confirm the loan is for you (loans in the name of parents are not acceptable)
• confirm the funds will be available to you before you begin your course or are paid directly to the University (e.g. US loan system)

US students: All Direct Federal aid and Private US loans are administered by the Student Funding Team. You can find full information here including how to apply and when to expect your loan award letter. The Student funding team can be contacted at usloanfunding@exeter.ac.uk or +44 1392 724724 from outside the UK or 0300 555 0444 from the UK.