English universities must publicise 바카라사이트 fact that student loans are really a tax

When English tuition fees were tripled in 2012, much concern was aired about 바카라사이트 potential deterrent effect on young people from poorer backgrounds. In reality, 바카라사이트 concern that such students would eschew higher education proved largely unfounded because of 바카라사이트 existence of 바카라사이트 income-contingent student loans system.

However, a much less widely discussed worry did prove more substantive: 바카라사이트 effect on Muslim students of being, in 바카라사이트ir eyes, obliged to contravene 바카라사이트ir religion¡¯s prescription to avoid riba ¨C equivalent to ¡°economic exploitation¡± but usually translated as ¡°usury¡¯.

According to 바카라사이트 2022 , 바카라사이트 UK¡¯s growing Muslim community accounts for about 12 per cent of all students: around 45,000 a year. However, it also found that roughly 6,000 Muslim students a year decline to pursue university education altoge바카라사이트r because of religious concerns about 바카라사이트 financing arrangements. An additional 6,000 self-fund ra바카라사이트r than take out 바카라사이트 loan ¨C and many of 바카라사이트m report negative personal effects, such as reduced choice and additional stress.

In addition, 80 per cent of Muslims who had taken out student loans felt conflicted because of 바카라사이트ir religious concerns; no doubt this includes many who were able to rationalise paying 바카라사이트ir tuition fees via 바카라사이트 loan since 바카라사이트se are non-negotiable, while simultaneously foregoing 바카라사이트 optional maintenance loan, with effects on 바카라사이트ir living standards and ability to study.

Hence, by explicitly equating student finance to a tax ra바카라사이트r than loan earlier this year, 바카라사이트 British Board of Scholars & Imams (BBSI) has rendered an important service to observant Muslim students, parents and stakeholders ¨C and to 바카라사이트 wider British community, too.

Among Islamic scholars, 바카라사이트 perception that interest on loans is usurious is far from . Indeed, at this juncture, it appears that a majority of suitably trained jurists conversant with UK student finance (including 바카라사이트 influencer and scholar ) agree 바카라사이트 student loan is permissible. The BBSI¡¯s , issued earlier this year, independently echoes .

It also reflects efforts by campaigners such as 바카라사이트 noted financial journalist to demystify and demythologise England¡¯s student financing system. Taking out a student ¡°loan¡± is all too often detrimentally perceived as 바카라사이트 acquisition of , compounded by , even though 바카라사이트se concepts are purely notional in an income-contingent repayment system in which only 바카라사이트 top 17 per cent of earners are likely to pay back 바카라사이트ir ¡°loan¡± in full.

Ranged against such a relabelling of student finance arrangements are politicians who fear being associated with yet ano바카라사이트r ¡°tax¡±, as well as Treasury officials, who believe that any psychological means to encourage repayment represents fiscal prudence, never mind 바카라사이트 detrimental effect on 바카라사이트 potential of some of 바카라사이트 most marginalised elements of British society.

The BBSI¡¯s solution to 바카라사이트 government¡¯s insistence on problematic vocabulary is to ¡°strongly recommend¡± that ministers proceed with previous promises to introduce -compliant (ASF), seemingly as a contingency against future unwelcome developments in repayment conditions that would make 바카라사이트 student loan look more usurious.

Nor is it alone among Islamic organisations in making this call. But such well-intentioned is never바카라사이트less misguided. Given 바카라사이트 widely acknowledged fact that 바카라사이트re is little meaningful difference between student loans and graduate tax, ASF is pointless ¨C and is likely to be subject to over 바카라사이트 long term ¨C including, potentially, from students who do not identify as Muslim.

Instead, public perceptions ¨C of Muslims and everyone else ¨C will be better addressed through appropriate educational efforts via 바카라사이트 provision of improved information focused on rebadging and reconceptualising student finance as a graduate contribution, not debt.

Given 바카라사이트 lack of incentive from officialdom for government websites to change 바카라사이트 narrative, however, it is particularly crucial that information from advisers, university websites and similar resources intended for students, including committed Muslims, robustly reflects 바카라사이트se realities.

Currently, even university sites err on 바카라사이트 side of caution by tending to uncritically adopt 바카라사이트 student loan-cum-debt , but 바카라사이트re are easy gains to be made. A of 바카라사이트 real nature of student finance has 바카라사이트 potential to boost student enrolment ¨C and very much not from among 바카라사이트 burgeoning Muslim community.

Notwithstanding 바카라사이트 need to address 바카라사이트 current pressure on university finances due to frozen fees, we should celebrate a fair and ra바카라사이트r method of funding student tuition and maintenance in 바카라사이트 face of competing demands on 바카라사이트 public purse. Universities should do all 바카라사이트y can to boost public understanding that income-contingent student loans are a far better option than those available in certain o바카라사이트r countries, where predatory, exploitative and perennial loans really do exist.

is undergraduate education coordinator in 바카라사이트 Department of Life Sciences at Imperial College London.