[Farson]

Brothers,

Just wondering is it haraam to take out uni loans out in UK for higher education and than re-pay the loans back with low interest rates when one starts earning in future?

More importantly, in UK a new policy has been established for students tuition fees which has been raised from £3,000 to £9,000 minimum and people who will be doing elite degrees will be taking much higher loans ranging from £9,000-£15,000 per annum depending on the institution.And the government has announced the interest rate will be twice as much and nearly 5 times the debt as the previous students.

Also regarding mortgages for buying a home, i heard that the Ulama have allowed to buy only One house on mortgage loans and pay interest on it.

So as muslims do we remain debt slaves for the rest of our lives paying interests in order to gain good education and a roof on our heads?

I think most of us are already paying insurance for many things that we use in our daily lives.

I am sure all these things can effect our Imaan in a very bad way?

Please let me know so i can give my younger brothers the right advice so that they don't have to face such evil things in their lives.

[Farson]

Bump!

[Teareerah]

Bump!

Any replies - this is a serious situation which many muslims find themselves in now especially since the rise of fees!
For those who say "well study abroad" the cost is more or less the same if not more when you include travel and accomodation and then fees abroad e.g to study medicine in europe is 10K whereas here it is 9K.
This is a serious dilemma so if some knowledgeable people can shed some light on it, it will be appreciated.

JazakAllah Khair

[connandoilee]

All i know is interest is Haram, so loans are not allowed. I myself is drowning in them, trying for foreclosure to stay away from interest. Isn't there some kind of Islamic banking in some countries? Anyone know more about it?
How do all of you escape from loans? Whats the Halal alternative?

[Farson]

All i know is interest is Haram, so loans are not allowed. I myself is drowning in them, trying for foreclosure to stay away from interest. Isn't there some kind of Islamic banking in some countries? Anyone know more about it?
How do all of you escape from loans? Whats the Halal alternative?

There are thousands of muslims studying in UK's universities and in order to fund their studies the government loans the money out for tuition fees and living costs and once the student completes his/her studies they end up paying back those loans with minimal interest.

I have never heard of Islamic bank loaning out for these kinds of things in UK.

For more info on UK student loans:

http://www.direct.gov.uk/en/Educatio...ance/index.htm

[WilliamHowland]

For higher education the UK Government is providing loans for the students to study and continue their Masters in some reputed universities. Even I also applied in best dissertation writing service review services for this kind of loan sir. They are very helpful to build our career in a good path.