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Old 09-04-2012, 03:56 AM   #10
clubcughSheet

Join Date
Nov 2005
Posts
490
Senior Member
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I thought the brother was referring to taking out student loans and the interest associated with them?
~
Student loans do only charge inflation only but this is not the case with the £9000. They are now adding on commercial interest so what you wrote doesn't apply. It does however affect me with the old system. I had looked into this earlier and many scholars said even inflation interest is still haraam so even then I was wary and decided to follow the route of a low paid job to avoid even the inflation interest.

In hindsight, I wish I had gone for an apprenticeship. I think it would have been a lot less hassle and it would have kept me away completely from such doubtful matters.
It is definitely a doubtful matter, and it is better to stay away from doubtful matters. It genuinely depends on ones level of taqwa. Would I tell an 18 year old to not get the loan because it is haram? No. But I would tell him the rulings on the matter.
e.g. just recently I advised another person I know that getting [a certain type of] bonds were haram. it doesn't mean I will forcibly stop them, but at least they know that now.
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