University fees.

[anotheoldgit]

http://tinyurl.com/24ddgv6

A case for the implementation of special rules for Muslim students?

/// There are concerns that such interest charges are against Muslim teaching on finance and will prevent young Muslims from getting the finance needed to go to university.///

[seadogg]

Its no fun for any student to face these fees and the interest they attract. Thank goodness our generation had free tuition and maintenance grants.
I think you have an underlying point which others can comment on.

[Loosehead]

There are Islamic friendly loans about.

[naomi24]

No special rules necessary.

http://www.islamic-bank.com/

[anotheoldgit]

Then why would it prevent them from getting the finance needed to go to university?

[naomi24]

Sharia Law forbids Muslims from taking or offering loans that carry the payment of interest, as student loans do. However, in order to borrow money they do find ways around it. This from the internet:

…. Sharia compliant banks sell the student gold in the value of the loan they are borrowing. The gold is sold at market price and as part of the repayment program the student must pay back the value of the loan in addition to the new value of gold, presumably it would be higher than when the bank loaned it, as a result making a profit.

Therefore, those Muslim students who don’t want to take ordinary student loans can get funding.