Lord Sharkey – 2016 Parliamentary Question to the Department for Business, Innovation and Skills

The below Parliamentary question was asked by Lord Sharkey on 2016-01-21.

To ask Her Majesty’s Government what help and advice is available to Muslim students who wish to progress to higher education but for whom an interest-bearing student loan would be a violation of their religious principles, and where that help and advice can be accessed.

Baroness Evans of Bowes Park

The Government is aware that some students, whose religious beliefs may prevent the taking out of a loan that bears interest, may feel unable to take advantage of student loans. In April 2014 BIS conducted a consultation on an alternative finance product for undergraduate students. Upon review of consultation responses, the Government supported the introduction of a Takaful Alternative Finance product available to everyone. This work is ongoing and subject to Parliamentary approval, the Government hopes to introduce the system through new legislation.

All students can access advice and guidance on the financial support available to them from Student Finance England on the link below:

https://www.gov.uk/contact-student-finance-england

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