tuition fee loan?

[bint_muhammed]

are you allowed it because it has intrest on it, but the next question is how can you pay such a big amount of money to uni when you dont have the cash! i'm really confused, im half way through first semester and i feel like quitting because paying seems to be a big problem:confused::confused::confused:

[aamirsaab]

:sl:
If you took out a student loan you'll only have to repay it once you start earning 15,000 in the UK atleast. Then it comes out of your account at a small rate, I think a hundred quid a month - it'd be best to check from your student loan company.

[bint_muhammed]

i got a letter an it says that intrest on your tuition fee loan starts to accure when your first payment has been cleared through you uni bank account. intrest is charged daily from this date and is currently equivalent to an APR of 4.8%. what do you make of that?

[aamirsaab]

:sl:
Not really my area of expertise since I myself didn't take a loan out (I was fortunate enough to get a gov'ment grant and scholarship equating to £2300). I'd recommend you get into contact with your loan company though.

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[Re.TiReD]

i got a letter an it says that intrest on your tuition fee loan starts to accure when your first payment has been cleared through you uni bank account. intrest is charged daily from this date and is currently equivalent to an APR of 4.8%. what do you make of that?

hmm, I havnt heard that anywhere! I'm sure its only after your degree is over...the interest begins... :hmm: as thats when you HAVE to begin repaying

[chacha_jalebi]

im sure your allowed a loan for education purposes

lol are you with the student loans company? they are fools lol they so annoyin :p

but sister im sure you only pay back once you start earning £15,000 and thats when the payback starts or contact the people themselfs they can clear it for you

[Seeker_of_truth]

im sure your allowed a loan for education purposes

Sure loan would be allowed but what about the interest on the loan? Interest is haram in Islam. I met few people who say if you live in Western country interest allowed. But as far as I am concerced interest is haram Quran and Hadeeth make that clear.

[jouju]

well here they say if u have no option den its allowed

[bint_muhammed]

intrest is a major sin its clearly not allowed no matter how many excuses people make its best to keep away from it, i'll ask someone for a loan

[Annie]

Salams
im in the same situation i took out a tuition fee loan but iv canceld it because of the intrest.I also phoned the student loan company up and they said intrest starts as soon as they make the first payment to university. However i know its really hard financially but why dont students pay they maintenance grant towards their tution fee loan and plus universitys also provide a one to one scholarships worth a thousand pounds.But i dont think students should take it out personally because inshallah allah will helps us out and plus it will have barakt .
wasalam

[aamirsaab]

Salams
im in the same situation i took out a tuition fee loan but iv canceld it because of the intrest.I also phoned the student loan company up and they said intrest starts as soon as they make the first payment to university. However i know its really hard financially but why dont students pay they maintenance grant towards their tution fee loan and plus universitys also provide a one to one scholarships worth a thousand pounds.But i dont think students should take it out personally because inshallah allah will helps us out and plus it will have barakt .
wasalam

I'm actually one of those who fits that criteria but there is still money to be paid after.

Last year I only had to pay 700 quid after gov'ment grant + scholarship. Sure it's small compared to 3 grand, but unless you have a job or parents, you'll need a loan to cover it.

[thydavidcome]

No its not haraam. Let me clarify. Its Haram to CHARGE interest specifically COMPOUND intrest. It never mentions haram to pay interest.

-Hope this helps

[Malaikah]

:sl:

^It is haram to pay interest, not only to charge interest!

Anyway, sister I can only advice you to study hard and win a scholarship!

[Muezzin]

If you live in the UK, and if there's still time, why not apply for a grant? You don't have to pay that back so there's no interest trouble, it's just a means-tested government grant.