Students: Finance
The question
To ask the Secretary of State for Education, what her planned timetable is for implementing alternative student finance following the introduction of the Lifelong Learning Entitlement in the 2025-26 academic year.
Answered by Janet Daby
The department is committed to introducing an alternative student finance (ASF) product, compatible with Islamic finance principles, as quickly as we can. To support this, the department has reconvened an expert working group made up of representatives from the Islamic community and the finance sector. The department has also appointed a secretariat to take forward the certification of the product as compatible with Islamic finance principles.
The delivery of the ASF product will need to follow the introduction of the Lifelong Learning Entitlement (LLE), which will replace the existing student finance system when introduced. The first LLE-funded courses and modules will begin in January 2027 and the department intends to introduce ASF as soon as possible after this.
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