Interest on insurance accounts and student loans : taking an interest student loan to gain a grant
Fatawa Question
Assalamu Alaykum, I work part time at my college and the program I work under is part of a program called AmeriCorps in which after completing a year's term of work, they offer us an education award of about $ 1200. However this award can only be used in 2 cases, to repay a qualified loan from the university or to pay future tuition expenses. I am graduating this year so I cannot use the second option. As a part of my financial aid, the university offered me a subsidized loan in which I do not pay any interest on it but the government does while I'm still in school. My education award that my work has offered me will repay the loan I take out in June when I graduate, so I would not be paying any interest on the loan whatsoever. So would it be Haram to take out this subsidized loan ? Jazak Allah Khair Yusra
Fatwa
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Publication Date
2013-03-10
Main Subjects
Financial and Accounting Sciences
Islamic Studies
Topics
No. of Pages
1
Data Type
Fatawa
Language
English
Record ID
BIM-730618
American Psychological Association (APA)
Qahf, Mundhir. 2013-03-10. Interest on insurance accounts and student loans : taking an interest student loan to gain a grant. .
https://search.emarefa.net/detail/BIM-730618
Modern Language Association (MLA)
Qahf, Mundhir. Interest on insurance accounts and student loans : taking an interest student loan to gain a grant. 2013-03-10.
https://search.emarefa.net/detail/BIM-730618
American Medical Association (AMA)
Qahf, Mundhir. 2013-03-10. Interest on insurance accounts and student loans : taking an interest student loan to gain a grant.
https://search.emarefa.net/detail/BIM-730618
