Thread: Student loans
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Old 06-17-2012, 09:15 AM   #6
Muhabsssa

Join Date
Oct 2005
Posts
577
Senior Member
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Mufti Ebrahim Desai is a top notch mufti. I would rely on his opinion.


As-salamu alaykum.

While pursuing a bachelor's degree at a university in the United States, I took out some federal loans which have terms which stipulate that interest does not accrue until a certain period of time after graduation or during any period of being a full-time student. I had read fatwas online previously that indicated that this would be permissible as long as I would be able to pay back the amounts taken out in student loans before the interest-accruing period began, much like how using a credit card is permissible so long as the user pays the amount owed before any interest accrues. Here is an example of such a fatwa:


http://www.askimam.org/public/question_detail/17341

I have now read other fatwas which indicate that even this would not be permissible, in addition to hearing this from a few imams in person. I would appreciate some advice for this situation.

JazakAllah Khayran for all of your help.
Muhabsssa is offline


 

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