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student loans - 7th Century Generation

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student loans


13 replies to this topic

#1 Rain

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Posted 03 October 2009 - 02:19 PM

asalamu 'alaykum wa rahmatullahi wa barakatu

Student loan is haram because interest, gna go uni inshallah. Is there any alternatives? Is there such thing as halal loans. Just don't want to get in a mess and regret it later. Jazakillah/JazakaAllah.

#2 Salaam

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Posted 03 October 2009 - 02:33 PM

View Postbint Muhammad, on Oct 3 2009, 02:19 PM, said:

asalamu 'alaykum wa rahmatullahi wa barakatu

Student loan is haram because interest, gna go uni inshallah. Is there any alternatives? Is there such thing as halal loans. Just don't want to get in a mess and regret it later. Jazakillah/JazakaAllah.


i dont think all of them add interest, but not sure as i didnt take the loan i'll ask some friends and get the answer

#3 Ibn As-Sabil

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Posted 03 October 2009 - 02:43 PM

Have a look at these threads:

http://www.7cgen.com/index.php?showtopic=9...t=0&start=0
http://www.7cgen.com/index.php?showtopic=1...t=0&start=0
http://www.7cgen.com...?showtopic=7611

#4 Rain

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Posted 07 October 2009 - 01:35 PM

View PostAl-Hijr, on Oct 3 2009, 02:43 PM, said:




JazakaAllah brother

#5 marriya

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Posted 07 October 2009 - 07:48 PM

interest free loans. ?

you could work part time

#6 Bluesky

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Posted 09 October 2009 - 05:31 AM

You can take off a year to make money for school. Also apply for scholarships, even the really small ones add up together. I applied to countless scholarships throughout last year, while people would have the attitude of " Im not good enough" I just kept on applying and Alhamdulilah I managed to get together enoughtfor 2 years, most of them are looking for community work and average grades.

#7 Al-Siddiq

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Posted 09 October 2009 - 05:42 PM

Nice links brother hijr =).

By the way, as far as contracts there are two opinons on contracts. One is that every clause in a contract must be halal, the other is that the purpose (the main point in the contract) must be halal, and the other haram clauses do not have to be adhered to.

By the way, I am not sure how student loans work in other countries, but in Canada they do weird stuff for students.

#8 sleepin giant

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Posted 09 October 2009 - 10:55 PM

When u open up a student bank account, you get an interest free overdraft. you can use that and don't have to pay it back until a year after you graduate. As long as you pay it back in time, u won't get charged any interest.

#9 Mindful

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Posted 10 October 2009 - 12:10 AM

Student loans are haram. They charge interest once u start work

#10 marriya

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Posted 11 October 2009 - 01:36 AM

well in NZ, [something the labour govt introduced] march of every year, they do an interest write off, so you only have to pay back what you borrowed.


if i could i would work for a yr or so [ 40 grand NZ] and then continue with studies.

i would suggest ppl stay away from loans of any kind.

#11 ::FAZ::

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Posted 11 October 2009 - 05:21 PM

The other day when i was goin thru HSBC's website i found out this thing called : HSBC AMANAH

http://www.hsbcamanah.com/amanah/about-ama...our_vision.html

Unfortunately they rn't offering this service here in INDIA so i dun hv much info wid me. Folks residing in UK, INDONESIA, MALAYSIA, SAUDI ARABIA or UAE cn gt the details 4 u by directly visiting the HSBC bank. These bank officials never giv u the details clearly on fone , so it wud b better if u directly go there and talk.

I'm vry mch keen to know abt this particular service bein offered by them. Wanna know how mch HALAL it is.

#12 Guest_Wafa_*

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Posted 24 August 2010 - 02:14 AM

lol so I guess the US people are royally screwed...

#13 Rain

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Posted 24 August 2010 - 03:19 AM

View PostIbrahim Saleh, on 24 August 2010 - 02:13 AM, said:

As you live in the United kingdom, here is a good idea for you:

As we know, there are THREE types of loans/grants: 1) Tuition fee loan (haraam)
2) maintaince loan (haraam)
3) grant (HALAL!!!)

The idea is that you use your 2906 grant money to pay off your 3225 yearly study course. The grant comes in september/january/april, at the rate of 979. Most likely your university will ask for HALF of the tuition fee at september - use your 979 grant and ask family members for the rest in order to pay that 1460 (half of the tuition fee) fee. And when it comes to january and the university asks for the other half, you do the same thing as before. And when April comes, you use that money (979) to pay off the family members that gave you the money initially at the begining.

I hope i answered it properly! I know its been nearly a year, but maybe this will help you.

Of course this will require you to live at home, and for your father or wali (guardian) to pay for your food and travel and books.

But remember sister, This struggle will only be for THREE years (Prophet Muhammad peace be upon him had to go through THREE years of sanctions imposed upon him by the Quraish upon which after it was lifted his dear wife khadija died).

Have sabr and steadfast. For verily, the sabiroon (the patient ones) will be successful!


:salam;

JazakaAllaahu khayran brother, really helped.

My father is gna pay for the whole thing, as I haven't even applied for the maintainence grant thingy yet. When I get the grant I'm gna pay him back slowly inshallaah, although he said I musn't pay anything back to him.

#14 respecta

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Posted 03 September 2010 - 10:39 PM

i applied for it then found out it's not allowed, khair, take the grant if your eligible for it and put on a few hundred on top, that should cover the cost inshAllah, and if that don't work, then surely Allah will help you some way as you went the right way inshAllah



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