If you want to study in UK then think twice, you may need to have a big big pocket to be an international student in UK. UK will be very expensive for overseas students hence forth.
Previously for a student having Tier 4 visa, showing the proof that they have enough money for education in UK was adequate. But now apart from that they also need to show that they have money to maintain their living in UK. This is referred to 'maintenance fund', which has increased by 24%. Also a job must be in hand for students at a graduate level, otherwise on completion of studies, they have to return to their home country. From November 12, the mentioned changes will come into action.
Indian aspirants studying in UK will have an impact because of the increased cost and restricted job options. The dreams of those overseas students currently studying in UK has taken a toll on their pockets.
Approximately a student studying in UK for 9 months needs to show maintenance fund of 11 lakh (9,135 pounds) for London institutions and 9 lakh for institutions which are outside London.
For shorter courses maintenance funds maybe anywhere between 1.01 lakh -1.26 lakh.
This maintenance fund should be a cash deposit and must be in place while applying for visa, overdraft facility not allowed. If a relative in UK is helping with the money then the amount must be tranferred to parents or students account, proof for this is also mandatory.
Apart from all these, UK has also decided to take off the provision meant for students 'established presence' in UK. This provision was meant for those students who wanted to study their Masters after completing their Bachelors. According to that provision, it would not be necessary for master students to have the same level of funds compared to a new student in UK. But unfortunately this provision is also taken off.
Usually Tier 4 visas are for courses having duration more than 12 months, where in students get 4 months of time to look out for job. According to new changes, if they are unable to find a job in this period then they will have to return back to their home country.
These new changes may bring down the number of international students UK has.