It has emerged that the UK Border Agency (UKBA) feels it is unable to permit verification from many lenders across the world in this regard, including around 2,000 in India and more than 700 based in the Philippines, the Press Association reports.
According to a spokeswoman from the regulatory body, a "radical overhaul" of the student visa system is regarded as necessary in order to combat abuse of the way this legislation is set out.
However, the UKBA has insisted that any changes implemented cannot be allowed to prevent the country from attracting the "brightest and best genuine students from across the world".
The official from the body - which employs 23,500 members of staff - added that the authority needs to be satisfied that those applying for scholarly visas can support themselves financially while in the UK.
By Asim Shah