Financial Documents Required for Visa Approval

Published On: 25 Jun 2012

 | Last Updated On: 29 May 2014

Studying abroad is a dream for many and studying in UK is a major decision for most of the students which bears impact not only their career but on their finances as well. While there are many Scholarships available to meritorious students, major chunk of the students go on to study either by taking education loans or gets sponsored by parents or guardians.

Now finding your course of interest and a college of choice is a very important part of your plan to pursue higher education abroad. Especially with UK visa, where the student visa is granted partially based on the funds available to the students. With Points Based System for visa processing, 10 points are only awarded for the Maintenance or funds available to the students.

UK agencies involved are very stringent regarding the required documents and stipulations and providing evidence for funding is a very important part of the procedure to acquire a visa to the UK. In order to claim 10 points for your Maintenance (funds), you must show that you have enough money to cover the course fees and living costs.

Documents needed to claim points for Maintenance (funds):

To claim 10 points for Maintenance (funds) you must show evidence that:  

· You have enough money to cover your course fees and living costs.

· You have paid all or part of your course fees and up to £1,000 towards accommodation fees to your Tier 4 sponsor.

· You are receiving official financial sponsorship.

Course fees: 

If you are starting a new course, you must show that you have enough money to pay for your course fees for the first year of your course or for the entire course, if it is less than a year long. If you have already started your course and you are applying for new permission to stay to continue that course, you must show that you have enough money to pay for your course fees to the end of the current academic year; or for the next academic year if you will continue on your course at the start of the next academic year.

If you are in the UK as part of a Study Abroad programme you must show that you have enough money to pay for any fees you are required to pay to your Tier 4 sponsor for the first year of your course or for the entire course, if it is less than a year long.

The amount you will need to show for course fees will be stated by your Tier 4 sponsor on your CAS. Your Tier 4 sponsor will provide UK immigration officials with details of the cost of the course fees once the CAS has been issued. If you do not know what these fees are, you will need to check this with your Tier 4 sponsor.  If you have no fees to pay to your Tier 4 sponsor, your CAS, must confirm that there are no fees due (for example, if these have been paid to an overseas Higher Education provider).

What amount of money does a Tier 4 (General) student need?

The amount of money you must show for living costs will depend on where you are studying in the UK. You may also have to show a lower amount of money if you already have an established presence studying in the UK. Tuition fees are on average £11,000 per year but can range from £8,000 to £36,000. You will also need at least £1,020 for each month of your studies to pay for living costs if you live in inner London. If you live in outer London you will need £820 a month. You can check on the UK home office web site on the areas which constitute the parts of inner London or out of London areas and locate your college and university on the list.

Documents needed to show money available to you

You must show that you have held the required money for a consecutive 28 day period (finishing on the date of the closing balance) ending no more than 31 days before your application. If you are providing evidence of maintenance from a single account, UK home office will always assess the funds available to you from the closing balance given on the document provided as evidence.

Where two or more pieces of evidence from a single account are used (for example two consecutive bank statements) UK home office will assess the funds available to you from the closing balance of the most recent document.  Where evidence from two or more accounts is submitted, UK home office will assess the funds available to you as being the closing balance of one account, plus any additional money available to you on the date of that closing balance, for which you have provided the required evidence.

They will always use the closing balance date from the account that most favours you. If you are providing evidence of Official Financial Sponsorship, in addition to evidence of your own personal funds, any money paid to you by your Official Financial Sponsor will not be considered as available personal funds. Money cannot be counted twice as evidence of maintenance.

The following documents can be used to show money available to you:

1.       Personal bank or building society statements :

Personal bank or building society statements  covering a consecutive 28 day period ending no more than 31 days before the date of your application. Your personal bank or building society statements must show: 

· Your name or your parents(s)/legal guardians name

· The account number

· The date of the statement

· The financial institution’s name and logo

· The amount of money available.

Ad hoc bank statements printed on the bank’s letterhead are acceptable as evidence (this excludes mini-statements from cash points). If you wish to submit electronic bank statements these must contain all of the details listed above. In addition, you will need to provide a supporting letter from your bank on company headed paper, confirming the authenticity of the statements provided. Alternatively an electronic bank statement bearing the official stamp of the bank in question will be accepted. This stamp must appear on every page of the statement.

2.       Letter from your bank confirming funds

A letter from the bank confirming funds have been held for a consecutive 28 day period ending no more than 31 days before the date of your application. Your letter from a bank or building society must show: 

· Your name or your parents(s)/legal guardians name

· The account number

· The date of the letter

· The financial institution’s name and logo

· The money in your account

· That there is enough money in the account (to cover your course fees and living costs).

3.       Letter from a financial institution:

A letter from the financial institution regulated by the home regulator (official regulatory body for the country the institution is in and where the money is held) for the purpose of personal savings accounts, confirming funds have been held for a consecutive 28 day period ending no more than 31 days before the date of the application. Your letter from the home regulator must show:

· Your name or your parents(s)/legal guardians

· Name the account number

· The date of the letter

· The financial institution’s name and logo

· The money in your account.

4.       Letter from a regulated financial institution  confirming loan:

A letter from a regulated financial institution confirming a loan is needed. The loan letter(s) from a regulated financial institution that you send must be dated no more than 6 months before the date of your application. The letter(s) must be the original (not a copy) and must clearly show:  

· Your name

· The date of the letter

· The financial institution’s name

· The money available as a loan

· That the loan is provided by your national government, their state or regional government, a government sponsored student loan company or is part of an academic or educational loans scheme.

The financial institution must be regulated by the home regulator (the official regulatory body for the country the financial institution is in and where the money is held) for the purpose of student loans. You cannot use loans held in the name of your parent(s) or legal guardian(s) as evidence of money held by you. There must be no conditions placed on the release of the loan funds to you, other than your Tier 4 application being successful.

5.       Taking money from parents or guardians:

 If you are relying on money held by your parents(s)/legal guardian(s), you must show that you are related to your parent(s)/legal guardian(s). You must provide one of the following:

· Your birth certificate showing the names of your parent(s)/legal guardian(s)

· Our certificate of adoption showing names of both parent(s) or legal guardian(s)

· A Court document naming your legal guardian(s).

· The document use must be the original Legal document or a notarised copy.

If you are relying on money held by your parents(s)/legal guardian, you must also show that your parent(s)/legal guardian have given their permission for you to use this money. You must provide a letter from your parent(s) or legal guardian(s). The letter must confirm the relationship between you and your parent(s) or legal guardian(s) and that your parent(s) or legal guardian(s) have given their consent to you using their funds to study in the UK.

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