Proof of Funds for Student Visas: Financial Requirements in the UK, USA, Canada, Germany & Malta

Vavita Marketing Team

• 2 min read
Proof of Funds for Student Visas: Financial Requirements in the UK, USA, Canada, Germany & Malta

Carefully preparing proof of funds documents helps you avoid student visa rejections. Many international students from countries like Nigeria, Ghana, Kenya, Bangladesh and Pakistan find that meeting the study abroad financial requirements for a student visa, especially the proof of funds for a student visa is critical. This means showing you have enough money for tuition and living expenses. Visa officers require this evidence to ensure you can support yourself during your studies. In this article, we outline the current proof of funds requirements in the UK, USA, Canada, Germany, and Malta, along with tips to help you prepare.

United Kingdom (UK)

For a UK student visa, you must show funds for first-year tuition plus 9 months of living costs. That’s about £1,529 per month in London or £1,179 per month outside London for up to 9 months. These funds must be held for at least 28 days before you apply, proven by an official bank statement whether from a UK or local bank account or an official loan/scholarship letter.

United States (USA)

The USA requires proof you can cover one academic year of study (tuition + living costs). You should have funds equal to or above the amount on your Form I-20, for example via bank statements or scholarship/loan letters.

Canada

Canada’s student visa funds requirement includes first-year tuition plus roughly CAD $20,000 for one year of living expenses. You can show this with recent bank statements, a Guaranteed Investment Certificate (GIC), or a student loan or scholarship letter.

Germany

Germany usually requires a blocked account (Sperrkonto) with about €11,904 deposited to cover one year of living expenses. Alternatively, a full scholarship or an official sponsor’s guarantee can fulfill this requirement.

Malta

For Malta, you need funds equal to 75% of the national minimum wage for each month of study, plus tuition fees. This is typically shown with around 6 months of bank statements and a bank letter confirming the balance. If you have a sponsor, include a notarized sponsorship affidavit and the sponsor’s bank statements and income proof.

Tips for Preparing Financial Documents

  • Keep funds stable: Organize your finances early to meet any fund-holding period such as 28 days for the UK. Avoid large last-minute deposits that could raise red flags, if a lump sum appears in your account, include an explanation of its source.
  • Use proper documentation: Provide bank statements on official letterhead. If you have a sponsor, include a signed sponsorship letter, proof of relationship, and the sponsor’s financial documents.
  • Prepay & save receipts: Whenever possible, pay some tuition or housing fees in advance to reduce the amount of funds you need to show e.g. a UK tuition deposit or Canadian GIC counts toward your required funds. Keep those payment receipts for your visa application.

Strengthen Your Application with Vavita

Vavita is a secure platform that simplifies international tuition payments for students. It provides official, trackable payment confirmations to strengthen your visa application and ensure peace of mind. Designed especially for students from emerging markets such as Nigeria, Ghana, Kenya, and Pakistan, Vavita enables seamless tuition payments abroad with payouts available in EUR, USD, CAD, AUD and GBP.

Explore Vavita today for affordable tuition payments and reliable proof-of-funds support to make  your study abroad journey smoother and more secure.