Are student loans allowed in Islam and what to do if family insists on taking one?

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

Answer
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

Original Source Link

This answer was collected from MuftiSays.com, based in London (UK). It is one of the fruits of Darul Uloom London. Many ‘ulama are involved in answering the Q&A on the site, including: Shaikul Hadeeth Mufti Umar Farooq Sahib, Mufti Saifur Rahman Sahib, Mufti Abdullah Patel Sahib, Maulana Qamruz Zaman Sahib, Mufti Abu Bakr Karolia Sahib.

Tags: Interest, loan, RIBA, Yaseen

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