Originally Posted by mathematician
i did, i told him not to do it. if you cant afford a car dont get a car, dont go get riba loan so you can buy a car, same with a house, same with a higher education.
the advice you gave about getting the loan from family is good though, i know a lot of good close families who do that and helped out reverts married into the same family who would otherwise have lacked support.
but you cannot take out a loan signing to say you will do something haram in the hope you can get personal interest free loans later, as the contract wouldnt be halal in the first place as you would be signing to say you would pay riba and would have no idea whether situation would change later or not so dont know if people would give you a loan when you needed it at the end of your course.
Originally Posted by anonymous
the issue of whether someone is benefitting from it is not relevent, the issue is whether there is haram in this contract by agreeing to riba which if i remember correctly from my student days there is (maths dont get on my case i wasnt muslim then) and you get charged interest every year but dont have to pay it off until you are earning so much.
Now Allah says riba is prohibited, we cant get around that by calling it a different name or making fancy contracts as some try to do or say its ok as not for profit company (as if all the people working for it and their directors are not getting fat wages), no it is simple, Allah says no it means no and the only necessity recognised in shariah is the necessity of the threat of death or serious life threatening harm.