Maintenance or funds is the cumulative sum you need to show you have available to cover your first year’s tuition fees and living expenses for the first year of your studies (9 months), without being employed in the UK, as part of your Student visa application. The School will tell UKVI how much you have paid towards your tuition fee and you will need to show evidence that you have sufficient funds to cover the rest of the tuition fees for the year and living expenses for the duration of your course. Please consult the Student guidance on Financial Requirements for the latest details about this requirement.
Normally you will need to have the money in your own bank account. The specified amounts of funds need to have been held in a bank account (not in trust, stocks or bonds) for at least 28 days before the date of the visa application.
The UKVI estimates that currently, students studying and living in London need a minimum of £ 1,334 per month to cover living expenses.
You have to prove you have held £12,006 for maintenance [= 9 months at £1,334 per month] + balance of your first year’s tuition fees, in an eligible account. The maintenance balance cannot go below minimum required during the 28 day period and funds should not be moved until your visa application has been decided on.
For example: Your tuition fee is £16,000. You have paid £1,000 towards your tuition fees, which leaves a balance of £15,000. Your maintenance will be (first year only)
Tuition fee: £15,000 +
Living Cost: £12,006
Maintenance = £27,006 (or equivalent in foreign currency)
If the money is in your parent’s account, you will need to provide documents to prove your relationship to your parent and evidence of their permission to use it towards your studies. Usually you provide your birth certificate (original and official translation if not in English) and a signed letter from your parents.
Use Oanda Currency Converter to check the equivalence of your funds in British Pounds
Although not part of your maintenance, as part of the application you will be required to pay for the Immigration Health Surcharge. This, as well as the visa application fee an associated expenses cannot come from your maintenance funds, but need to be paid separately.