Is Taking A Student Loan Haram

Original post by Anonymous this is just silly now. Islam forbids Muslims from receiving or paying interest on loans.

Alhamdulillah To The One Who Told Us To Stay Away From Riba Debt May Be Unavoidable But Good Reminder To Keep It As Low As Possible R Islam

Riba is haram 10000.

Is taking a student loan haram. A There is one type of student loan where you can pay back within a certain period without giving any interest. The servicer handles roughly 13 million borrower accounts that will be transferred. Go to granny or grandpa and ask for a loan of a thousand if you have to.

I will not be able to afford to pay for my tuition fees minimum 6000 a year maximum 9000 so I am thinking to take a student loan out to fund for my university fees. The Quran treats the payer of usury as the victim. The loan is not actually paid to the student so you never get hold of the money in the first place nor do you have the choice to do with it as you wish.

Student Loan Company charges Interest and thus is Riba. Student loans for undergraduates. Riba is haram haram haram.

The student loan debt market in the United States stands at more than 173 trillion with over 423 million debtors required to pay an average debt of 39351 eachFor now the government has put. Yet according to Sheikh Ahmad Kutty a senior lecturer and Islamic scholar at the Islamic Institute of Toronto Muslim students are allowed to take the student loan if they have no other alternative. Some ppl just take this religious thing too far now.

Haitham al-Haddad in which he ruled that taking student loans is permissible and that there is no riba involved at all. The Prophet ﷺ said. This is halal if all are paid-back without any extra money interest.

Im a muslim and i took out the student loan to go to uni as did all the muslims i know. There is no such evidence in the Quran and any other evidences need to be understood based on the directive of the Quran. From friends and family.

You dont know how many Muslims go about their daily lives engaging in it either knowingly or ignorantly. B If the student loan is not as above and payback involves paying interest then this is usury riba so the originaldefault ruling for this that it is haram and a major sin. Also the fact that your mom has been watching videos and getting educated about it with you is another enormous blessing.

Go to aunties and uncles and ask for a loan. If one thinks that it is Haram to pay interest then the burden is on him to bring evidences. Also nowadays every student applies for a loan unless theyre super rich and their dads some sort of tycoon.

The Shaykh spent some time researching into this topic and this article will hopefully shed light on some of the reasoning and evidences behind that ruling so that the Muslim student seeking to apply for. Like all other loans Student loans are also permissible as long as they dont involve interest. Large loans from banks and businesses no matter if they are marked as an.

Education and obtaining knowledge is compulsory in Islam. The UK student loans are not typical loans and do not really resemble the loan that the Islamic jurists of the past spoke of when they spoke about loans. 5 Calaf Veni Vidi Vici.

There is no question that based on the Quran riba on loan is Haram. These student loans incur interest on the repayments. Allah isnt going to punish you for taking out money to get a good education for crying out loud.

Unless your born into a rich family then theres no real option and its really a non issue fgs. It is absolutely not something to be taken lightly and no one should be taking out a student loan without consultation with a reputable scholar who understands the UK context and without trying your hardest. For Muslims taking out a loan and incurring interest on it is considered impermissible which makes university loans haram.

And med school is very expensive and i was wondering is it haram to take student loans out for my eduaction ive spoken to my father and he tells me to ask the sheikh but i dont know one personally and i was hopeing some of you may help me. Is this considered haram even though this is the only way to go. In the West specifically in Norway Muslims can get student loans where some portion of the loan will be converted into a scholarship if you pass the exams otherwise it remains a loan.

However if a student is in dire need to pursue hisher studies and no loans are available without interest then in that case under the rule of necessity it will be permissible for the student to take the minimum loan and heshe should pay it back as soon as possible. Whoever builds a Mosque for Allah Allah will build for him a similar house in Jannah Please donate now help us establish a Norwegia. But it is tax deductable which which means I dont have to pay tax on it and I only start to pay it off if and when I get work and then it comes out of my salary at a rate that I can afford eg depending what my salary will be.

Answer 1 of 3. Aslam wu alakum i am a 20 year old student who is planning to become a doctor inshallah and for that i must go to med school. The UK government offers eligible undergraduate students a Tuition Fee Loan and Maintenance Loan as part of the Student Finance funding system in the UK.

On the loan there is no interest as long as you are a student but when you have finished your studies interest is added to the loan. So our view and that of a few scholars we have discussed this point with is that student loans are haram but if you have mitigated as much as you can and you really need to go to university and it will be genuinely worthwhile for you a student loan may be seen as a necessity and availed of. These loans make it achievable for people to do that.

Instead a bank must provide some service to earn. This is provided they are sincere in their intention to pay it back without incurring interest according to. Basics of Islamic Banking To begin with in Islamic finance one must work for profits and simply lending money to someone who needs it does not count as work.

This is apparent in the following points. Before 2012 this interest was set at the rate of inflation not at a commercial rate. Here is a good scholarly video on the topic too.

This article will discuss the fatwa given by Shaykh Dr. The announcements mean some 98 million student loan borrowers. Oct 8 2021 9 Periplus said.

Answer 1 of 21. Under Islamic law money must not be allowed to create more money. Is student loan haram I have a student loan.

Took Student Loan Didn T Know It Was Haram What Do I Do Now Assim Al Hakeem Youtube

My Halal Student Debt How Muslims Navigate University Loans Metro News

Is Taking Student Loans Haram For Muslims In The West Q A Sh Dr Haitham Al Haddad Youtube

Are Student Loans Haram Suggested Addresses For Scholarship Details Scholarshipy

Are Student Loans Haram Suggested Addresses For Scholarship Details Scholarshipy