Darul Iftaa Mahmudiyyah

Student Loan

· 4 Rabiʻ II 1436 AH1 min readFatwa 31877English

Question

I had a question regarding loan. I live in the US. For my undergraduate education, I had to take out a loan. The loan will be out of grace period soon. Currently I am not working and my husband does not want me to work. My husband is studying deen and does not work. I just had nikkah but rukhsati is going to happen soon inshaAllah. In a few months, we will be living together and his family will be supporting us. My husband always has a concern about paying interest and how to repay the loan.

Also I am under credit card debt. Its hard for him and my family to pay except for the minimum payment. Can you please tell me what we should do and the ruling on loan for education and credit card as well as interest?

Answer

In the Name of Allāh, the Most Gracious, the Most Merciful.

As-salāmu ‘alaykum wa-rahmatullāhi wa-barakātuh.

We commend you for having the concern of practicing Dīn and staying away from the prohibitions of Shari’ah by trying to ensure that the payments are free from interest.

Unfortunately, you have found yourself in such a situation where you are obliged to make payments along with interest once the grace period has come to an end. As such, you may continue to make payments of the student loan. However, try your utmost best to absolve yourself from the student loan as soon as possible as it is impermissible to engage in any transaction that involves interest. Therefore, make tawbah and istighfār in abundance while doing so.

And Allah Ta‘āla Knows Best

Fahad Abdul Wahab

Student Darul Iftaa

USA

Checked and Approved by,

Mufti Ebrahim Desai

www.Daruliftaa.net

Answered by
Fahad Abdul Wahab
Checked & approved by
Mufti Ebrahim Desai
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Source: Darul Iftaa Mahmudiyyah — https://askimam.org/public/question_detail/31877
Fatawa SA: https://fatawa.co.za/fatwa/askimam-31877

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