Under the revised regulations, students planning to study in London will need to show they have £1,483 (3,307,090.000 Nigerian Naira) in savings per month, up from the current requirement of £1,334 (2,974,820.000 Nigerian Naira). For those studying outside of London, the monthly requirement will rise to £1,136 (2,533,280.000 Nigerian Naira), an increase from £1,023 (2,281,290.000 Nigerian Naira). 

For instance, a student enrolling in a typical nine-month course in London will demonstrate total savings of £13,348 (29,766,040.000 Nigerian Naira), which could pose challenges for many prospective students.

Starting January 2, 2025, the United Kingdom will implement new financial requirements for international students, marking a significant overhaul in the country's approach to higher education. To be eligible for a student visa, prospective international students must demonstrate increased financial savings, the first policy change since 2020.

The UK government has cited rising living costs as the main reason for this adjustment, acknowledging the inflationary pressures since the last updates in 2020. The increase aims to better prepare international students for the financial demands of studying in the UK and align the maintenance requirements with domestic student loans.

International students in the UK may experience a significant impact because of the new financial requirements. The increased financial burden could make it harder for students from lower-income countries or developing economies to afford to study in the UK. In turn, this could lead to a less diverse student body at UK institutions, as fewer students may be able to meet the increased financial criteria. 

The UK's new financial requirements for international students, which come into effect in 2025, could make the UK a less attractive study destination than other popular options like the USA, Canada, and Australia. These countries offer more affordable options for international students. The UK's new policy could reduce the number of international students choosing to study in the UK, negatively affecting the UK's economy and its reputation for multiculturalism. 

However, the UK government has introduced some flexibility to mitigate the impact of these changes. Students who have already secured UK accommodation with a deposit can offset that amount against the required savings, and those who have lived in the UK on another visa for at least 12 months are exempt from providing maintenance funds.