I want to know whether taking loan for studies is permissible ? It’s loan from student finance UK. Once i leave uni and start earning more than 21000 I must start repaying the loan along with interest. There are instances in which the loan is writenoff such as if one dies, becomes disabled,reaches a certain age. I have been told it’s some sort of investment permissible in Islam
I want to know whether taking loan for studies is permissible ? It’s loan from student finance UK. Once i leave uni and start earning more than 21000 I must start repaying the loan along with interest. There are instances in which the loan is writenoff such as if one dies, becomes disabled,reaches a certain age. I have been told it’s some sort of investment permissible in Islam
21Oct
ANSWER:
This is prohibited.
I want to know whether taking loan for studies is permissible ? It’s loan from student finance UK. Once i leave uni and start earning more than 21000 I must start repaying the loan along with interest. There are instances in which the loan is writenoff such as if one dies, becomes disabled,reaches a certain age. I have been told it’s some sort of investment permissible in Islam