Hawa
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Lately I've been reading extensively on riba, so far I've come across two opinions, that the UK type student loans, based on inflation rates rather than actual increment on the original price loaned, is allowed. The majority however are of the opinion that it is still riba and therefore haram.
I've taken maintenance loans as I don't have any other source of income, but in all honesty I don't know just how 'necessary' it is for me :? (if absolutely necessary most of the Sheikhs say it is permitted to take such loans)
I am taking care of myself and my younger siblings...does this constitute necessity? I know an incredibly silly question to ask in here, I know for sure that I won't be able to afford the living costs if I abandon my studies and work instead...
I guess I just want to hear people's opinions as I'm at a loss..