New Loans To Help Muslim Students Go To University


A new model for Sharia law-compliant student loans has been unveiled today (3 April 2014) by Universities and Science Minister David Willetts


Published on 04 April 2014


by The Rt Hon David Willetts MP

(WireNews+Co)

London, England

Department for Innovation & Skills
Department for Innovation & Skills

A new model for Sharia law-compliant student loans has been unveiled today (3 April 2014) by Universities and Science Minister David Willetts.

The proposed system will enable people whose religious beliefs forbid them from taking out loans that accrue interest to take advantage of student loans.

Speaking at a Universities UK Conference on universities and growth, David Willetts launched a consultation on the proposed model asking for views on whether it is an acceptable alternative to the conventional system.

The model will be available to anyone who adopts similar financial principles. Anyone taking the loans will not be at any advantage or disadvantage – they will repay the same amount as other borrowers.

David Willetts said:

"The government is committed to ensuring that anyone with the ability and desire can go to university.

"Sharia-compliant student loans will also give universities access to a wider pool of talent and help the UK get the higher level skills we need to secure long-term economic growth."

The intention to develop Sharia law-compliant student loans was announced by the Prime Minister last year (2013).

The consultation opened today (3 April 2014) and will run for 12 weeks.


For more information about this press release visit https://www.gov.uk/government/news/new-loans-to-help-muslim-students-go-to-university

 


Contacts

Enter your email:
Enter Subject:
Enter your message:
Please enter this numbers in the fields:
 
  Click image to get a new code.
Enter code:
 

Posted 2014-04-04 09:31:00