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Are student loans haram?

Since we have to pay interest on student loans, are these still considered haram? I mean, education is encouraged but is it still haram to take student loans? Do any Muslims on here know how to get around this?
(edited 7 years ago)

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Reply 1
Avatar for Synonym
Synonym
16
if it is just dont go....less competition
The government did commit to developing a Sharia-compliant alternative that suitably renames the interest to 'not-interest', but I don't think any progress has been made since they published the outcome of their consultation: https://www.gov.uk/government/consultations/sharia-compliant-student-finance.

There is also EdAid, which offers interest-free, crowdfunded student loans, so that may be something you want to look into.
(edited 7 years ago)
Reply 3
Avatar for Nuzhath
Nuzhath
Original post by desaf1
Since we have to pay interest on student loans, are these still considered haram? I mean, education is encouraged but is it still haram to take student loans? Do any Muslims on here know how to get around this?


Student loans are not haram unless you have to pay interest as well. The paying of interest is what makes it haram. Hope that helps!
Reply 4
Avatar for RobML
RobML
6
I'm sure God wouldn't punish you with eternal hellfire for wanting a good education
Reply 5
Avatar for desaf1
desaf1
OP
12
Original post by Hydeman
The government did commit to developing a Sharia-compliant alternative that suitably renames the interest to 'not-interest', but I don't think any progress has been made since they published the outcome of their consultation: https://www.gov.uk/government/consultations/sharia-compliant-student-finance.

There is also EdAid, which offers interest-free, crowdfunded student loans, so that may be something you want to look into.

Thank you!
Yes it's haram but there are Sharia compliant alternatives available
Original post by BigTraderBoi
Yes it's haram but there are Sharia compliant alternatives available


like what
Original post by Kraixo
like what


There are Islamic banks like Al Rayan Bank that provide Sharia compliant student loans without riba.
Original post by desaf1
Since we have to pay interest on student loans, are these still considered haram? I mean, education is encouraged but is it still haram to take student loans? Do any Muslims on here know how to get around this?


Clearly its not been a hinderance to many Muslims who do avail them of the advantageous terms of student finance, but if your conscience wont let you go, then the alternatives are:

1. Don't go.
2. Get a job and save the money up yourself.
3. Find relatives or institutions that can offer you Sharia compliant finance.

The governments solution seems to be a few years away yet. The katest was this white paper produced in May 2016.
https://www.gov.uk/government/uploads/system/uploads/attachment_data/file/523546/bis-16-265-success-as-a-knowledge-economy-web.pdf

This gives a reasonable overview on the situation.
https://www.welfare.qmul.ac.uk/money/student-loans-and-sharia-law
Well they're certainly kosher!
this is just silly now. im a muslim and i took out the student loan to go to uni as did all the muslims i know. unless your born into a rich family then theres no real option and its really a non issue fgs. allah isnt going to punish you for taking out money to get a good education for crying out loud. some ppl just take this religious thing too far now
Original post by Anonymous
this is just silly now. im a muslim and i took out the student loan to go to uni as did all the muslims i know. unless your born into a rich family then theres no real option and its really a non issue fgs. allah isnt going to punish you for taking out money to get a good education for crying out loud. some ppl just take this religious thing too far now


Interest is haram. End of.

Those who consume interest cannot stand [on the Day of Resurrection] except as one stands who is being beaten by Satan into insanity. That is because they say, "Trade is [just] like interest." But Allah has permitted trade and has forbidden interest. So whoever has received an admonition from his Lord and desists may have what is past, and his affair rests with Allah . But whoever returns to [dealing in interest or usury] - those are the companions of the Fire; they will abide eternally therein.
Surah Baqarah, Verse 275
Original post by Anonymous
Interest is haram. End of.

Those who consume interest cannot stand [on the Day of Resurrection] except as one stands who is being beaten by Satan into insanity. That is because they say, "Trade is [just] like interest." But Allah has permitted trade and has forbidden interest. So whoever has received an admonition from his Lord and desists may have what is past, and his affair rests with Allah . But whoever returns to [dealing in interest or usury] - those are the companions of the Fire; they will abide eternally therein.
Surah Baqarah, Verse 275


don't care what you say. Allah isn't going to chuck ppl into hell for taking out an essential student loan to go to university which they wouldn't be able to attend otherwise. Stop making God out to be some ridiculous petty weirdo
Reply 14
Avatar for Ciel.
Ciel.
21
Original post by Anonymous
Interest is haram. End of.

Those who consume interest cannot stand [on the Day of Resurrection] except as one stands who is being beaten by Satan into insanity. That is because they say, "Trade is [just] like interest." But Allah has permitted trade and has forbidden interest. So whoever has received an admonition from his Lord and desists may have what is past, and his affair rests with Allah . But whoever returns to [dealing in interest or usury] - those are the companions of the Fire; they will abide eternally therein.
Surah Baqarah, Verse 275


Are you ashamed of yourself, posting under anon? I hope so. You should be. We are living in the 21st century you know.......
it could be a test... Shaitan has set his snare of Student Loads to tempt you away from the path of Righteousness

:dontknow:
Reply 16
Avatar for mkap
mkap
20
The way i see it, if you absolutely need to take a loan you are allowed. It is essential for people to get an education nowadays, especially men. Islam is meant to make life easy and not cause hardship. Its not like the loan is for a car or something. its for something that is a necessity. There are difference of opinions, it depends on which one you follow.
Getting a loan= Nah that is horrible and you will be punished with eternal hell fire
Oppressing women = Go ahead.
Absolutely Harambe.
Yep pretty much

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