Student loans: haram?halal?

Ok so this post is regarding student loans. I understand there are many fatwas regarding this and that there is quite a big Muslim population in the UK, many of which take student loans to go to university. I do understand the perspective of it being similar to a business transaction/ they prevent the Muslims in western countries becoming of a lower class because they don’t go university. But for some reason something in my heart doesn’t feel right about it. I considered taking a gap year to save money but I wouldn’t be able to save enough for the entire degree so it seems rather counterintuitive if I’d have to take loans anyway. There are links on websites like the KCL website directing students to Islamic banks but from my research none of these grant student loans and barring a miracle I don’t see a way to get this money.
I do want to go to university and I apply this year but this feeling is gnawing away at me. Does anyone have any advice/ tips/ ideas to share regarding this issue?/ could someone direct me to someone I should speak or listen to regarding this topic?

Reply 1

maymay22

Original post by s_seeker

I have had the exact same issue and personally I feel the same - student loans will always be haram but what I’ve decided to do is take a gap year and try to make enough money to pay for at least the first year. This way I’d still be working throughout uni part time and full time in the summer in order to pay for the following two years. You could also look into scholarships and bursaries and I’ve found quite a few that are willing to pay your full 3 year degree so it’s worth looking at your subject and the unis website to see if they offer similar scholarships. I genuinely do believe it’s realistic to pay your own way through uni, taking out the loan is just the easy way out which I think is why most people gravitate towards it but really a uni degree which is beneficial for only worldly matters isn’t worth going to war with God for yk. This has been a bit of a ramble so I’ll summarise some alternatives

1. As family/friends if you can for help towards the cost - you’d be surprised how many people are willing to invest in you
2. Look at scholarships on the uni websites and for your specific subject - top unis like oxford, kings, lse and many more offer fully funded 3/4 years providing you get in
3. Get a job, preferably full time if you’re doing a gap year but any job anywhere works so you’re able to save money towards your first year - the more you save the better for you in the long run
4. Try side hustles for some extra income - things like tutoring or selling things on apps eBay, vinted and Depop can help with saving just that little bit more
5. Consider a different route, sometimes a degree isn’t the only way and there are many apprenticeships and courses you could do in your subject instead - it’s always good to have a plan b esp if you’re reapplying to uni

Choosing not to take the loan is arguably the best option esp if you want to go to uni and you know your course is an investment in your own future. Not only do you end up with no student debt in the end but you come out the other side with way more skills and experience and resilience not to mention you know you did the right thing.

Hope that’s helpful!

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Student loans: haram?halal?

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