Since I recently found out that student loans is forbidden in Islam due to the involvement of interest when paying back, I wanted to ask:
Can I pay back the student loans from my first year of the course using money that I will have saved from part-time jobs over the years that I am studying without having to pay back interest?
Can I pay back a 15,000 pound debt (that excludes the interest) before I finish my course? Or can I only start repaying when I have an income?
I have read that interest isn't added onto your loans only until after you start earning above a certain amount in salary such as 21,000 pounds.
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Paying loans without interest watch
- Thread Starter
- 05-09-2015 23:37