I want to go to US for higher studies but I cannot meet the expenses by my personal funds so need to take an education loan. Can I take a loan from bank ? If not how can I manage my expenses ?
Answer
(Fatwa: 857/857/M=1432)
In case of taking loan from bank, one has to give interest and hadith curses on interest based dealing; hence, one should avoid it. You should adopt any lawful source to bear your educational expenses.
Allah (Subhana Wa Ta’ala) knows Best
Darul Ifta,
Darul Uloom Deoband