Repaying a Student Loan

[Musalmaan]

:salam2:

Apologies if questions of this nature have been asked before.

For those based in the UK, when I start work I will begin repaying my student loan. However, student loans here in the UK are repayed with a certain amount of interest. This of course is prohibited in Islam.

I was wondering is there anyway to repay your student loan without paying back interest?

I've been applying for jobs recently and it has been on my mind for a while. Now ofcourse many of you may say why take out such a loan in the first place? That was my mistake.

Any advice as to what I can do in this situation?

 

[desireeB]

A student loan is designed to help students pay for university tuition, books, and living expenses. It may differ from other types of loans in that the interest rate may be substantially lower and the repayment schedule may be deferred while the student is still in education. It also differs in many countries in the strict laws regulating re-negotiating and bankruptcy.

 

[Shak78]

:salam2:

I am in the same boat here in the States, I am about oh 30K or so in debt due to student loans. See if you can consolidate to get the lowest interest rate possible. Once you do, I would start repaying unless you can get a deferment for either school or economic hardship. I don't think there is a way to repay it w/out interest if it was borrowed the non-Islamic way.

 

[alf2]

Umm...why did you get the loan in the first place when you knew there was going to be riba involved?

 

[Aapa]

Assalaam walaikum,

Sister, many fall into the trap. They think they are going to get a fine education and walk out with a worthless piece of paper and twenty years in debt.

For those in the US there was actually an e-petition to ask the US government to forgive student loans. For those in debt check it out. I do not have the link. It was in the past two weeks. They were able to get over 500,000 signatures.

 

[Shak78]

Umm...why did you get the loan in the first place when you knew there was going to be riba involved?

:salam2:

I got mine when I was out of the fold of Islam and living my life the way I wanted not the way of Allah. I saw that petition Aapa and signed it, sadly I don't have the link for it either.