Student Loans – Some Progress At Last

knowledge

Salam All,

I pray you are well.

We have all come across family members, friends and children from our community being denied access to a university education due to the current interest based system of student of loans. In fact, there are thousands of Muslim students each and every year, who are effectively being denied access to a university education.

Those of us who deal with such questions on a day to day to basis will empathise with the gravity of this situation. Part of empathy is to also make a sincere effort to make a difference.

Denying these principled young people access to university is an incredibly short sighted policy which will condemn tens of thousands of practising Muslims to lower career and life opportunities, hence storing up social cohesion and equality issues for decades to come. And Allah knows best.

The Department of Business, Innovation and Skills (BIS), who are the government department responsible for universities, has finally progressed onto conducting a short seven question survey on the suitability of a proposed alternative scheme.

So, what do you need to do?

Firstly, we need to get a student loan scheme for Muslims pushed through to:

Fill in their response form: https://www.surveymonkey.com/s/studentfinanceconsultation

Secondly, say you definitely want the Government to find an urgent solution because it affects you and your children since they cannot continue in higher education with the current interest-based system.

Thirdly, inform them that their current proposal needs to be tailored to AAOIFI standards, and that UK scholars and organisations such Al Qalam Sharī‘ah Scholar Panel (which include Ulama such as Mufti Yusuf Sacha Sahib, Mufti Zubair Butt sahib and Mufti Muhammed Ibn Adam Al-Kawthari) should be part of the Shari’ah supervisory board for the alternative finance product.

Fourthly, post your comments and messages on the following blog page to show your support:

http://www.1stethical.com/2014/04/07/student-loans-some-progress-at-last/

Ulama and specialists are currently preparing papers offering alternative solutions within the guidelines mentioned by the UK Government. If you are interested in submitting, defending and attending, please contact 1st Ethical, or Al-Qalam.

Finally, pass this message on and we request your ongoing duas and support.

Haroon.

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