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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 ?

Answered according to Hanafi Fiqh by Darulifta-Deoband.com
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

This answer was collected from the official ifta website of Darul Uloom Deoband in India.

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