[Questfortruth]

Hello

Inshallah soon I am planning to go back to college. I have a question regarding student Loan. Can I take studen loan which has interest? I am really not sure if I would be able to pay it off before interest is added. My parents have been forcing me to take student loan and go to college. I have already missed 2 years from my studies because I did not have the money. Did anyone take student loan from this forum?

 

[HumbleServant]

Salaam,

From the little I know brother, most scholars have said nope straight up about these because of the interest involved. However I know of some scholars who have allowed it if out of necessity... Allahualam, I understand what u mean its sometimes quite difficult to pay for the excessive fees they ask for. In the first year of university I borrowed from a family member and paid the £3000 plus fees that way, this year as I'm studying abroad the fee is less, but I still have to pay the family member back some day! So its still difficult, but of course halal!!

If you have the option of borrowing from family, the halaal way that'd be recommend. Otherwise insha allah see what your local molana/imaam advises based on your circumstances... it's so difficult these days.. But we all know interest is haraam. Allahualam - Allah make it easy on you brother.

 

[Heera Singh]

aren't there (Muslim) Organizations set up for this kind of stuff, to help fund certain things like education and purchase of a home etc..? I know in Canada there are some like this.. even for mortgages.. where they don't charge interest, and the person just pays back in monthly installments..

 

[Mikayeel]

I thought most student loans were interest free right?

 

[Heera Singh]

no, they're not interest free.. u just don't have to start payin them until u graduate.. and then they hit u with interest... takes a long time to pay down...