Source: http://qa.muftisays.com/index.php?viewpage=viewQA&question=541
Question ID: #541
 
Question: student loans
salaamz

just wondering if student loans are allowed in Islam. also what do i do if family members insist i take out a student loan?

jazakallah khair
 
 
Answered by: Ulamaa ID 01 ()
Date: 26/06/2005 22:25pm

Bismihi Ta'ala

Student loans in the UK are not permissible in Islam. Although it is commonly known that its not given on an interest basis, rather the repayment is according to the inflation. It is still Riba regardless of what perspective it is observed from.

You must strongly oppose your family if they insist you take it. Explain to them that it is Riba, which is an explicit and clear prohibition in Islam. May Allah help you.


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Mufti Yaseen Shaikh
 
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