Interest

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Interest عبد الله 01/05/17 (Thu) 02:05:27 7714f5 No.19189

Assalamu Alaykum,

I'm an 18 year old Muslim living in the U.S.

I'm graduating highschool soon and have been accepted into college in the field i want to study. The problem is how to pay for it: My father (non-Muslim) is pressuring me to take a student loan, but i don't want to pay interest on the loan.

What im wondering is if there is a way to take out a loan without having to pay interest, or if there is some other way around this.

Also, say i did take out the loan hypothetically. If i paid the standard payments and let a non-Muslim pay the interest rates as a charity (i.e. out of the kindness of their heart, im not expected to pay them back) is this a sin upon me?

Any help is appreciated, Jazakoum Allah khair

عبد الله 01/05/17 (Thu) 02:24:54 7714f5 No.19190

>>19189

http://muslimmatters.org/2012/04/20/36098/

عبد الله 01/05/17 (Thu) 03:58:35 7714f5 No.19192

>>19189

>What im wondering is if there is a way to take out a loan without having to pay interest, or if there is some other way around this.

do you get a couple of months before they activate the interest? because thats what they do here and i use student loans

>Also, say i did take out the loan hypothetically. If i paid the standard payments and let a non-Muslim pay the interest rates as a charity (i.e. out of the kindness of their heart, im not expected to pay them back) is this a sin upon me?

yes it is

عبد الله 01/05/17 (Thu) 13:00:16 7714f5 No.19197

>>19192

Depends on the type of loan you take out, but my main concern with that is not being able to pay it back in time to avoid the interest, in which case I'd be stuck with it

عبد الله 01/05/17 (Thu) 21:23:09 7714f5 No.19205

>>19197

Same for me, but just do your best to pay it in time. In your case you really need the loan, your education depends on it. So in my opinion, it's justified.

عبد الله 01/07/17 (Sat) 09:17:16 7714f5 No.19324

>>19189

have you tried looking up if there are any islamic banking near your place?

عبد الله 01/07/17 (Sat) 09:58:43 7714f5 No.19325

YouTube embed. Click thumbnail to play.

Skip to 7:10 OP

عبد الله 01/07/17 (Sat) 11:00:29 7714f5 No.19326

Why are you all speaking terrorist??

عبد الله 01/07/17 (Sat) 11:30:09 7714f5 No.19327

>>19326

Define speaking terrorist