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Interest-free student finance

This petition had 146 supporters

Its essential that everyone has an equal right to university education. Many muslims in the UK have to make the choice of going against their religious beliefs and taking the loan or not going to university altogether, due to the student loans having interest on them. Interest (usury) is forbidden in Islam. This is problematic for many muslim students as it is a very competitive world out there. In my opinion, a degree helps propel one towards a brighter and more successful future. 

It is therefore vital for me as a Muslim student to who is passionate about education to have an alternative method of financing myself whilst at university. The government consultation in September 2014 indicated an alternative finance university tuition fee model would be introduced in September 2016. The government’s proposed alternative finance Takaful model which, whilst being identical to the current interest based model in terms of cost and repayment terms, uses a non-interest based finance mechanism. The government initially planned to introduce this alternative finance by September 2016, it has not yet done so, and has not committed to a date when this model will eventually be introduced.

Please can the government prioritise making this happen by September 2018 and recognise the negative impact on many Muslim students of not being able to benefit from a university education.

Please sign this petition so that everyone is given an equal right to university without having to compromise their religion. 

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