ANSWER:

This is totally prohibited and one of the major sins in Islam for which Allah has waged a war against someone who deals in riba. It is very simple: If you can’t afford it, don’t do it! 

QUESTION: I (FEMALE) live in USA and want to pursue higher education in medical field which is quite expensive. And my family is not that well off. Student loans charge 15% interest…and interest is haram. What should I do? If I take a student loan, will everything after that, including my education and job be considered haram?

Jobs, Loans, Riba | February 6, 2024 10:39 am
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QUESTION: I am a Muslim revert and I took out a student loan before I became muslim. After becoming muslim I became a housewife and had kids. I have not had an income since then as I have always had a small child to care for. My question is, am I obligated to pay this student loan and will the debt keep me out of jannah.
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QUESTION: I bought house w/riba-mortgage & get rent. I realised this major sin 6 month ago and been exploring Islamic finance since (failed). I can only sell house after 6 months. Can I keep (1) rent and (2) profit from sale of house? Or best give to charity for repentance?