Student Loans & Interest

Answered by Shaykh Faraz Rabbani

When I started University , I took out a student loan in which I pay interest and I have a lot left to pay off as I finished only two years ago. I also took out two personal loans which I pay interest, one will finish 2005 and another 2006. To be honest I was only aware that we are not allowed to take interest. I have also heard from a brother that, taking interest Allah declares a war with you in this life and the next. I am a practising Muslim insha’Allah and don’t know what to do now and it is not possible for me to pay everything off in one go. Please Help?

Answer:
In the Name of Allah, Most Gracious, Most Merciful

Wa‘alaykum Assalam wa Rahmatullah wa Barakatuhu,

In the Name of Allah, Most Merciful & Compassionate

Do your best to repay this loan as quickly as possible. If you are remorseful and have the resolve to absolve yourself of this burden as fast as you can, then Allah will accept your repentance.

Faraz Rabbani

 

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