Fariq Naik – Can a Students Loan Interest be taken in the West as the Fees are Exorbitant

Assalamu alaikum Warahmatullahi wabarakatuh.

My name is Sarah, and I work as

a senior sales consultant in London.

In the west, in order to study a

degree

course, you can take student loans as the

yearly fees are extremely high for one to

pay. Hence, it is easier to take a

student loan.

Student loan in the west does consist of

interest.

However,

the condition of paying back the student loan

is to earn more than £25,000

a year.

Otherwise, you don't have to pay it back.

And after 30 years or if a person

dies, this loan will be written off.

Is it still okay?

Otherwise, Muslims

would not be able to study or attend

a university

as you have to take loan in order

to be educated.

What should one

do? Allah subhanahu wa ta'ala says in the

glorious Quran Surah Baqarah chapter number 2 verse

number 278 and 279.

Oh you believe fear Allah and give up

your demands

of rebah

if you are believers.

Fa illam tafaloo. If you do not do

so, fa then we will be harbiminallahiwarasuri.

So be prepared that Allah and his messenger

will wage a war against you.

So riba, it is completely prohibited in Islam.

Dealing in riba, it is haram in Islam.

And according to Imam al Dhabhi, he writes

in his book Al Kaba'at, the 70 major

sins. He says that riba, it is the

12th major sin in Islam.

So dealing in riba, it is completely prohibited.

Student loan,

and you only have to repay this loan

if you earn more than

£25,000 a year.

Even in this situation,

you cannot agree with this contract.

Even if you know that you will not

earn more than £25,000

a year,

yet you cannot

agree with this contract

because you are agreeing

that in this situation, you will

pay riba. You will deal in riba.

So this is completely prohibited in Islam.

I'm aware

that there are certain western so called scholars

who say that it is permitted

to take a student loan, to to take

a home loan, to take a house loan

even if it

involves Indrabah.

But the words of the glorious Quran,

it is clear

in the prohibition of dealing with rebah

And

dealing

in riba, it is a major sin.

So we should abstain from dealing in riba.

And if you want to study,

so there are other solutions.

The first is that you can apply for

scholarship.

The second is that you can take a

loan from an Islamic

Sharia compliant bank.

The third is that you approach an Islamic

organization

who will finance your education

or who will give you a loan for

your education.

But

in no way should

you take riba

and

many a times

you know that

if you deal in riba, in this world,

you will get a lot of benefit.

It will be lucrative.

For example,

if you

take this loan, this student loan,

it may be, for example, for medicine,

and then

later on, you will become a doctor and

you will earn a lot of money. You

will have so much respect.

But

what is the point of this money when

it is haram?

What is the point of this money when

in the akhirah you will be among the

losers?

And it is a test from Allah Subhanahu

Wa Ta'ala. Allah Subhanahu Wa Ta'ala tests different

people in different ways.

So Allah subhanahu wa ta'ala

test people. For example, he may

show them that they have a good offer

to deal with rebah,

but it is a test for this person

in this situation. Will he yet deal in

rebah or no?

So this is very important that we need

to abstain from all the things that are

haram.

And inshallah, you have other solutions like scholarship.

You can

take a loan from an Islamic bank, a

Sharia compliant bank or you can approach an

Islamic organization

who will give you a loan.

So these are the options but

in no way should deal

and involve in riba

Because

riba, it is clearly prohibited in Islam and

it is

from among the major sins. So no one

should take it lightly. So you should totally

abstain from dealing in river.