Generally speaking, obtaining a student loan may become permissible if the person finds himself with no other ways to finance his education. In this case, the person is permitted to obtain a student loan as long as he has the sincere intention to pay back the loan on time without incurring interest.
Sheikh Ahmad Kutty, a senior lecturer and Islamic scholar at the Islamic Institute of Toronto, Ontario, Canada, states the following: my humble opinion is that it is permissible to do so under the following conditions:
1. If a person finds himself/herself with no other source of income or ways to finance his/her education.
2. If he/she has all the intention to pay back the loan on time without incurring interest.
I think it is possible for most people to do so if they seriously commit themselves to it; I personally know a number of those who have done it. So, if you are a student that has already taken a student loan, pay it on time without incurring interest. If you have missed the deadline, then pay it off any way and ask forgiveness of Allah.
Taking a Student Loan in the Eyes of Shari`ah
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