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If student loan is forbidden in Islam, how can I pay for my tuition fees?

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Reply 120
Avatar for TeeEm
TeeEm
19
plant a money tree...
c13.jpg258.9KB
if your parents are on low income you should be able to get free tuition(bursarie)
I advise asking at a financial support office and they shoulkd give you some advice
Honestly, avoiding loans is a good idea. My Grandma always taught me to not to buy anything on credit and always pay cash. People who grew up during the Depression hated bankers. Charging interest to someone who needs money is a little selfish, honestly. I can see why someone would find it morally distasteful. Not easy to avoid in today's society, though.

You might have to try and find a cheaper school, and that would probably mean going outside the UK to a school in Europe. Pounds have a favourable exchange rate against the Euro, so that's always helpful.

Also, you should try to see if anyone in your family will give you the money. Is it possible you could find a lender who wouldn't charge you interest? Someone that knows about the religious prohibition and is willing to work with you?

Another idea is just going to an FE college and learning a trade, which would be significantly cheaper. You could work for the money doing that trade until you earn enough for school. If you could live with your parents for free or mostly for free until you earn enough, that would make it easier to save up your money for school.
(edited 8 years ago)
OK - I'm not a Muslim but here are my thoughts. The student 'loan' is called a loan, but it really doesn't work like a loan, it works like a tax.

For a loan, you would pay back an amount each month (or whatever) based on how much you borrowed, and the interest rate applied. For a student 'loan' what you pay back is related only to how much you earn. So it works like a tax. They add interest to what you owe, but it doesn't affect how much you pay back. And after a certain number of years, if you haven't paid back the whole of the 'loan', it doesn't matter, you stop paying. You could describe it as a tax you pay for a certain number of years, although it's called a student 'loan'.
Does that help you, from a religious perspective?
Original post by KrazyHusna
I have this issue too. I am starting at Kings College London. I will not sacrifice my religion for this dunya. I don't want to be involved in riba to educate myself.

My father is helping me out significantly. But its going to be a tight squeeze as my older brother is at university at the same time. I have no other sources of finance. As a Sister, its also going to be difficult to find a job in London, as I don't want to work anywhere where there is excessive free mixing or anything like that.

All we have is prayers. May Allah give us ease.


What is free mixing?

When does it become excessive?
Original post by OHH_MY_DAYZ:b
if your parents are on low income you should be able to get free tuition(bursarie)

Not in the UK. There are uni bursaries based on household income, but they rarely go beyond a couple of thousand pounds.

I advise asking at a financial support office and they shoulkd give you some advice

There's no such thing in the UK.
Original post by Klix88
The grant element of Student Finance is being abolished and will not be available to students starting in or after 2016. In future, all Student Finance will be in the form of an interest-bearing loan (those who are already at uni and receiving the grant, will continue to get it).

It's going to make the issue even worse, unfortunately.

Really? Wow things are getting tougher for the next cohorts.
Original post by Klix88
The grant element of Student Finance is being abolished and will not be available to students starting in or after 2016. In future, all Student Finance will be in the form of an interest-bearing loan (those who are already at uni and receiving the grant, will continue to get it).

It's going to make the issue even worse, unfortunately.


from a religious point of view it could make things better because the debt will increase to such an extent that most students will not pay it off. Therefore they will be paying an extra tax but not paying off the interest.

Chase your MP to find out what is happening to this https://www.gov.uk/government/consultations/sharia-compliant-student-finance
Original post by deathbeforeimmortality
Really? Wow things are getting tougher for the next cohorts.


They'll get a full loan like the rest of us who are too rich for a grant but too poor to survive on the student loan alone.

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Original post by Moonstruck16
They'll get a full loan like the rest of us who are too rich for a grant but too poor to survive on the student loan alone.

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That makes sense. I was very lucky and fortunate because I did my degree in 2010 - 2013.
You can do ab apprenticeship and get a job straight away, uni is not the only option. Or work full time before going to uni. For me im gonna do nursing because its funded course. Really the punishment is severe so dont choose the loan at all

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Huge problem. Interest is not a light matter in Islam. Seriously if you knew how serious interest is you wouldn't consider it so petty and little
Original post by KrazyHusna
I have this issue too. I am starting at Kings College London. I will not sacrifice my religion for this dunya. I don't want to be involved in riba to educate myself.

My father is helping me out significantly. But its going to be a tight squeeze as my older brother is at university at the same time. I have no other sources of finance. As a Sister, its also going to be difficult to find a job in London, as I don't want to work anywhere where there is excessive free mixing or anything like that.

All we have is prayers. May Allah give us ease.


Asalaamualykum,

I know it's been a while since this thread but I wanted to know how you got on?
I'm currently in a position to start uni next September but this student loan and interest situation is putting me off. How have you managed so far?

Thanks x
Reply 133
Avatar for Armagon
Armagon
Original post by Jimmyforeal
Honestly, I understand how you feel but it's for university, your not going around acting like ISIS. I took the loan, you have to take into consideration the quraan was written many many decades ago, circumstances have changed and I'm pretty sure that this would be okay as your doing this for a better future.


Well usury was in full force back when the quran was revealed. And 99.9% of the people take it (and always took it) to make their future better, so this exception isn't really true.
Reply 134
Avatar for Armagon
Armagon
Original post by C=N-R
Ok hold that thought for a moment. Do you or will you pay tax? If so, where do you think that money goes? How much do banks cost the UK tax payers? Are you familiar with those fat cats who earn millions in bonuses every year? With what money exactly? "The rich richer, and the poor poorer" your words, not mine.


Exactly, and imagine that no one ever took credit, the the banks would be out of operation, no big fat cats and people are limited to what they have and life generally will be on nearly on the same levels. No too many extremes.
Original post by KrazyHusna
its also going to be difficult to find a job in London, as I don't want to work anywhere where there is excessive free mixing or anything like that.


You mean girls and guys? Do you live in the UK yet you should know that free mixing is almost unavoidable in the UK I mean you could work in a suite shop or something but even then you have free mixing. It's a way of life over here as woman are equal here. and in uni it's unavoidable and also in town. You are in for a BIG shock when you leave home.
Reply 136
Avatar for Reue
Reue
20
Original post by Armagon
Exactly, and imagine that no one ever took credit, the the banks would be out of operation, no big fat cats and people are limited to what they have and life generally will be on nearly on the same levels. No too many extremes.


You may want to go back to having your life and future generations of your children, their children etc all growing up knowing they can only aspire to be potato farmers.. but I don't.

Access to credit is what allows you to leverage your situation for the better. Allows you to buy a house, car and education you would never be able to accumulate enough wealth to purchase outright otherwise at a reasonable age.
Original post by Reue
You may want to go back to having your life and future generations of your children, their children etc all growing up knowing they can only aspire to be potato farmers.. but I don't.

Access to credit is what allows you to leverage your situation for the better. Allows you to buy a house, car and education you would never be able to accumulate enough wealth to purchase outright otherwise at a reasonable age.


Potato farmers...:mmm:

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Salaam, loan/student finance assistance is the only way around paying for uni fees and all things uni in this country...unless you are MEGA rich like someone else said above. Don't stress too much about this matter :smile:
Original post by Ibz5
Allah will create the means of twenty-seven thousand pounds being deposited into your account. It's how Allah works.
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So 27k is going to magically appear in his bank account..?

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