Education Loan For Muslim Students

Education Loan For Muslim Students - "Learning knowledge is obligatory on every Muslim. Indeed, how much Allah loves those who strive to seek knowledge.

The International Federation and Herdji Foundation are keen to empower Khawaja girls by giving three female students the opportunity to further their education in their chosen field. The aim is to provide an opportunity to the poor female students from our community, who cannot afford the tuition fees, to pursue their goals of higher education at the undergraduate level.

Education Loan For Muslim Students

We know that to improve our quality of life, we must focus on higher education. Therefore, we strongly believe in focusing on the educational development of Khoja women and by creating a generation of professional Khoja women who are willing to study but do not have the financial support to contribute to their education fees. Therefore, we must come together and meet their needs, support our own, which we know will have a lasting positive impact on their lives as well as our communities for years to come.

Islamic Approach To Student Loans

We are happy to announce the Herdji Foundation Student Loan which will cover tuition fees only, will be available to three female students from our Khoja community who wish to pursue higher studies at an undergraduate level only for the year 2021!

The loan is available for a maximum of £12,500 per student per academic year, for up to three consecutive years. The loan covers tuition costs only and is paid directly to the university.

The Herdji Foundation Student Loan has been helping poor students of our community to pursue their education since 2008. There are many applicants from all over the world. This loan has been given by Khawaja to female students who need help with their education fees while studying law, mathematics, dental surgery, psychology, neuroscience, economics, neuroscience and other such subjects. . Successful applicants have gone on to study their preferred courses at many of the world's top universities, including Queen Mary University, Birmingham University, La Trobe University and Cedar Crest College to name a few.

We are offering this once-in-a-lifetime opportunity, targeting only three single women who have the desire to study but have some financial constraints that prevent them from covering the tuition fees. The International Federation and the Herdji Foundation are passionate about encouraging female members of the Khoja community to further their undergraduate education and start their careers, and this loan is a great first step towards that.

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KSIMC International Federation would like to take this opportunity to thank the Hariji Foundation for their generosity in providing loans for Khoja girls to pursue their higher studies in primary education and their Life has achieved dreams. We pray that Allah (swt) forgives this family and rewards them endlessly for their continued support in the field of higher education. Amen

The Herdji Foundation Student Loan is an annual education loan program. The maximum loan amount per student per academic year is GBP 12,500. The loan is disbursed for a maximum of 3 consecutive years.

You can apply for this loan by downloading and filling the loan application in Word format by clicking here.

All hard copies of loan applications must be submitted to KSIMC International Federation by August 22, 2021. We understand that this may be difficult during the uncertain times of Covid-19, but we still ask that hard copies be sent. to us. If it cannot be received please email us and let us know at the email address below.

Murabaha: Definition, Example, And Financing Under Islamic Law

Khawaja female students who are interested in this loan are requested to apply with their conditional offer in the first instance and submit unconditional offer after the release of final results.

All applicants are requested to type the application form for clarity and print it only when the entire form is written, to obtain signatures from the relevant parties to approve the fully completed loan application.

If you are interested in contributing to educational projects like this one, click here. Your contribution will make a difference in a student's education.

Sign up for our emails and be the first to know about our latest projects and how you can get involved. Muslim students, who have been waiting a decade for the government to introduce alternative Shariah-compliant student finance, are having their voices heard over Halal student loans.

A Continuous Charity

The Islamic Finance Group (IFG) is encouraging the community to take advantage of the government's open consultation on 'Lifetime Loan Eligibility' (LLE), which aims to replace current student loan schemes from 2025. To once again put pressure on the government to maintain its debt. Committed to providing a halal alternative.

In 2013, David Cameron signaled the government's commitment to develop an alternative Sharia-compliant student finance product for Islamic students. But it has not yet launched such a product.

The issue was raised last week by MP Anna Firth at the House of Commons Education Select Committee. She asked Education Minister Nadeem Zahawi what happened to the Sharia-compliant program after she was contacted by some Muslim circles.

"After a group of Southend West students wrote to me about alternative student funding I raised their concerns directly with @nadhimzahawi and got his assurance that he would look into it. You write."

Riba And The Permissible Loan

❗💥🎒Yesterday was the first @CommonsEd meeting after the break! After a group of students from Southend West wrote to me about alternative student funding I took their concerns directly to @nadhimzahawi and got his assurance that he would write to the committee about it📗 😊👍 pic.twitter.com/B0h8IAE5sx — Anna Firth MP (@Anna_Firth) April 21, 2022

A Muslim census study last year found that if the government scraps the idea of ​​introducing a halal student finance system, it could harm 10,000 Muslim students a year.

The Higher Education Research Act 2017 allows the government to introduce student funding products that are compatible with the Muslim faith. But not much has happened in the last five years.

In February 2022, as part of its review of post-18 education and funding, the Government published a policy statement setting out reforms to the student finance system.

Bertelsmann Education Group

"The government has considered the development of a new student finance product in line with Islamic finance principles, taking into account the Post 18 Independent Review Committee report."

"We will consider whether and how the Alternative Student Fee (ASF) can be introduced as part of the new LLE."

The government is currently discussing the details and scope of the LLE, which will include barriers people face in accessing credit. It encourages those with concerns about interest-bearing loans to respond to open consultations.

The IFG, which last year sent a letter to the Prime Minister on the issue with a petition of 30,000 signatures, wants people to respond to the new consultation.

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It has set out a short action plan for how people can quickly take up alternative study funding before the consultation closes on 6 May.

The IFG will also be releasing a webinar tomorrow, Tuesday, April 26 at 5pm, to provide an update on the topic. The group will be joined by Stella Creasy MP, Stephen Timms MP, Lord Sharkey and Halal Student Funding campaigner Asha Hassan. Photo: Two students at Madani Islamic School in Leicester, England, hold signatures in support of Islamic student loans. Photo taken by Isa Hassan, a final year medical student at the University of Exeter.

The UK government continues to push down the road in the new years to introduce a Sharia-compliant alternative to interest-bearing loans for university students.

Eight years after then-prime minister David Cameron promised to raise money for students to pay for university fees and living costs without paying interest on their loans, ministers are still unable to decide when to introduce it. .

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This is despite the fact that some time ago there is a mechanism put in place by the Department for Education (DfE) which is said by these modules to be fully Shariah compliant, in all respects equivalent to the established system. And easy to implement.

At the World Islamic Economic Forum in 2013, Cameron said in an attempt to address the economic exclusion of Muslims in the UK: "No Muslim in the UK should ever be able to go to university because they can't just because of their religion. Because of this, students get loans." . By encouraging the growth of Islamic finance.

Last year, university fees in England and Wales tripled to £9,000 a year, meaning many students had to take out loans from the Student Loans Corporation (SLC), a government-funded not-for-profit organisation. To fund their education.

The total interest paid on these loans is calculated according to the prevailing retail price index and a fixed percentage. The interest rate is currently set at 5.6% for graduates earning more than £49,000 a year.

Scholar Plus Education Loan

Earning interest starts after graduates reach the £27,295 per annum threshold and continues for up to 30 years from the time the loan is taken out. The loan is canceled in case of death of the graduate and often

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