The Finnish Immigration Service has published the exact minimum bank balance foreign students must have to qualify for a student residence permit. The amount depends on the length of the course and whether the institution provides free accommodation or meals.
Minimum bank balance for one-year or longer courses
Students applying for programmes lasting one year or more must have at least EUR 9,600 (roughly N15 million) in their bank account at the time of application. For shorter programmes, the requirement is EUR 800 (N1.2 million) per month for the duration of the course.
According to the official guidelines, applicants must demonstrate they can fully support themselves throughout their stay. Work income cannot be used to satisfy this requirement when applying for a first permit.
Reduced thresholds for scholarships and free accommodation
The EUR 800 monthly figure covers accommodation, food, and other everyday expenses. If a student has received a grant or scholarship towards living costs, that amount can be subtracted from the required bank balance. For instance, a student coming for one year with a EUR 2,000 grant would need to show EUR 7,600 instead of the full EUR 9,600.
Students whose institutions provide free accommodation benefit from a reduced threshold, needing only EUR 400 per month. Where both free accommodation and free meals are provided, the monthly minimum drops further to EUR 270.
Tuition fees and proof of payment
Most higher education institutions and universities in Finland charge tuition fees for international students. If the first-year tuition has already been paid before application, the student simply attaches proof of payment alongside evidence of sufficient living funds.
However, if tuition has not yet been paid, the student's bank account must cover both the first year of tuition and the full living cost requirement simultaneously. The funds set aside for living expenses cannot be counted towards paying the tuition fee — the two must be separate.
Students holding a scholarship specifically covering tuition fees must attach a certificate from their institution confirming this, and they still need to separately prove they have adequate funds for day-to-day living in Finland.
Legit.ng has also published residency years for foreigners who want to become Qatari citizens, and Australia's Department of Home Affairs has outlined the residence requirement foreigners must meet before applying for citizenship. Applicants must have lived in Australia on a valid visa for a number of years before applying, with specific rules on time spent outside the country.
