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06 / 05 / 2026
University Loans
There are agreements that universities enter into with banks and public financial institutions, whereby the banks grant loans to students that are repaid in monthly and easy installments without the students bearing any interest or commissions. The university bears all the fees and bank interests associated with these loans in various forms. Is it permissible for me as a student to take such a loan?
Answer
I say, and with God's help: they are contracts for the sale of benefits, so they can be lawful or they can be usurious. If we are certain that the university's agreement with the bank is lawful, then it is permissible to benefit from it; otherwise, it is not. And God knows best.
