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Muslims at uni, have you taken out a loan?

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Thanks for this useful information :smile:

So it's a "sin" to repay a loan when the repayment includes an amount of interest, but it's not a "sin" to deliberately avoid repaying a loan at all by keeping your earnings below the threshold?

Ok then...

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Reply 61

JMuslimah

This is incorrect. You'd actually be sinning by not paying your debt.

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Reply 62

Rorschach II

I think I remember a thread on this a while back; the issue being that it's wrong for Muslims to take interest-based loans out.

(p.s. kinda only read thread title.)

Reply 63

Margo1

Original post by Gnomes&Knights

Most Muslims that go university take out the loan and I don't know anyone who hasn't other than the ones that got a fee waiver scholarship. There isn't any easy way out; you either go university and take out the loan or not even go university. I doubt your parents are rich enough to pay your fees.

Errr No! You can go to uni without having to take student loans. I am taking a gap and saving up to pay for my uni, it's not that hard.

Reply 64

Legendary Quest

Original post by Margo1

Errr No! You can go to uni without having to take student loans. I am taking a gap and saving up to pay for my uni, it's not that hard.

I think most people would struggle to save up £27k plus living costs.

Reply 65

Gora The Xplorer

I don't understand why interest is Haram. If you loan a car or (loan) rent a house you pay money to account for the time over which you used those commodities and any possible depreciation of the value over the term, so by the same principle you would surely pay rent on money in the form of interest.