Desperate for School Loan!

[AnonymousPoster]

salaamaalaikum

I absolutely cannot go back to school because there was a mistake processing my financial aid and at this point the problem is not fixable which leaves me no choice but to either not go back to school for along time and wait or take a loan. Well I know it is absolutely haram to pay interest but what if I take the loan with no intention in my heart of ever paying back the interest portion. I sign the promissory note with the intention to pay back ONLY what I took and not a dime more. If I am never going to pay the interest portion but only what I took in the first place does that still make taking the loan haram. Only Allah know what is in my heart and he knows I never intend to pay that interest under any circumstance. Is that money halal for me. Please let me know with evidence.
jazakumallah khair.

[syilla]

taking student loan is it permissible

taking student loan in the eye of shariah


Student Loans with an Interest Rate Linked to Inflation

[Donia]

What do you mean by not intending to ever pay the interest?

Do you mean to pay the loan off before any interest ever occurs?
Or do you mean you will take the loan even knowing interest will be added if you don't pay by a certain time but you will just refuse to pay the interest portion?

[AnonymousPoster]

Or do you mean you will take the loan even knowing interest will be added if you don't pay by a certain time but you will just refuse to pay the interest portion?

Yes. If by any chance I can't manage to pay it off while I am in school and of course the interest comes after I am done with school and at that time I pay off only what I took and don't pay the interest whatsoever. Is that haram since I didn't plan to pay the interest and I didn't pay the interest.

Hey there! Looks like you're enjoying the discussion, but you're not signed up for an account.

When you create an account, you can participate in the discussions and share your thoughts. You also get notifications, here and via email, whenever new posts are made. And you can like posts and make new friends.
Sign Up

[zakirs]

If you can repay it back without interest then do it :) . note: IF YOU CAN

[Donia]

Yes. If by any chance I can't manage to pay it off while I am in school and of course the interest comes after I am done with school and at that time I pay off only what I took and don't pay the interest whatsoever. Is that haram since I didn't plan to pay the interest and I didn't pay the interest.

Hmmm.. I don't think I'm qualified to answer that question. Good one.
My opinion is I don't think it's a good idea because if you don't pay it off before you're done with school and then the interest comes into effect and you just refuse to pay that part, then that will damage your credit.

However, if you take the loan and fully intend on paying it back before you end school... then that's a different story.

[RickHolm]

you already field for a FAFSA?

[AnonymousPoster]

you already field for a FAFSA?

Yes and that is what got all messed up and I only have 7days before Classes and there is absolutely no way it can be fixed..they made it loud and clear.:heated::heated:So my only option is the Loan.

[AnonymousPoster]

Hmmm.. I don't think I'm qualified to answer that question. Good one.
My opinion is I don't think it's a good idea because if you don't pay it off before you're done with school and then the interest comes into effect and you just refuse to pay that part, then that will damage your credit.

Thank u sister. I am fully aware that it will affect my credit but my question is whether it is Haram or Halal to do that?