Student loans
Q: Six years ago I applied and received a student loan from Iqraa Trust. At this point in time I was not aware that majority of their funds received is Interest money from financial institutions. My questions are:
1. Have I committed a sin by accepting the student loan without knowing it is interest?
2. Can I repay the loan that they gave me using Interest money?
3. Will students who know that it is Interest money but accepts it as a student loan to be repaid back be sinful?
Make maaf for asking such a question, but after doing some research I found out that their is no Aalim on their board or who is associated with them that could guide me on this issue.
A:
1. Make istighfaar and avoid using this for the future.
2. Give that equivalent in charity to the poor and deserving.
3. As above.
And Allah Ta'ala (الله تعالى) knows best.
Answered by:
Mufti Ebrahim Salejee (Isipingo Beach)
Q: I have currently not repaid the loan received from Iqraa and require guidance as to whether I can repay the loan received with interest money considering that they have given me interest money.
A: If it is not compulsory for you to repay the loan we suggest that you give the equivalent in charity.
And Allah Ta'ala (الله تعالى) knows best.
Answered by:
