Not every student funds their degree in the same way. For cultural reasons some students don’t access statutory funding in the form of a student loan. Work is underway to offer an alternative funding model for Islamic students.
Plan for Sharia-compliant student funding
In 2014 the UK government undertook a consultation to gather views on the acceptability of an alternative financial product based upon the Takaful model. This consultation received a very positive response and the government has confirmed that it supports the introduction of this new funding model and will work on its development. For further details and to view the consultation documents please visit the government pages.
Unfortunately there are currently no published timescales for the development or implementation of the Sharia-compliant student funding model. Further updates will be published on the GOV.UK website in due course.
Useful links