The government’s progress on sharia-compliant student finance appears to have stalled.
While one alternative system of student finance stole the headlines last week, another was also discussed in a Department for Education report published on the same day as the Augar review of post-18 education funding.
It relates to the introduction of sharia-compliant student loans. Because Islamic law prohibits “riba”—the paying and receiving of interest for profit—some Muslims believe that this means taking out a student loan is not permissible. As a result, they have to rely on savings to pay for tuition, or may end up avoiding higher education altogether.
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