Students loans : loans to study

Fatawa Question

Respected Sir, Assalamu Alaikum, I am an international student from India and have got the admission in a reputed American University (fall 2001 term.) at the Department of electrical and Computer Engineering. My major is Computer Networks and my primary research interest area is Distributed Computing and Networking. I would be grateful if you could provide some information and guidance. I need 8000 US dollars for sustenance (for the first semester). For the rest of the period I will get any job on the campus and that will be enough to pay for my expenses and fees and even repay the loan, In Sha Allah. I would also be very happy and have no problem in paying more than the loan amount... But just that it should not be in the form of interest. But till now I have not been able to get loan from Islamic source. Now what should I do. Take a loan (with interest) for a short period and do the studies or leave this golden chance of post graduation. Thank you for your consideration, your guidance and help will prove quite valuable to me. Waiting for your reply. Thanking you,

Fatwa

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Publication Date

2001-05-27

Main Subjects

Financial and Accounting Sciences
Islamic Studies

Topics

• Islamic jurisprudence
• Education
• Students
• Loans
• Usury

No. of Pages

1

Data Type

Fatawa

Language

English

Record ID

BIM-725751

• APA
• MLA
• AMA