Assalamu Alaykom Wa Rahmatu Allah
Ruling on the subsidized loans
Now, I will explain the ruling on the subsidized loans:
First: The fact that the government declares that it pays the interests on
behalf of the student when he borrows a subsidized loan does not render the
loan Riba-based at first. That is because the government plays the role of both
the taker and giver of Riba (interests). Supposing that the student deals with
a single creditor having a legal personality, i.e. the federal government,
declaration of these interests is useless. The government announces it in order
to cope with the capitalist economic systems in which loans are always
associated with interests.
Second: Riba enters this loan in another way, which is the obligation of paying
the interests if the student failed to settle the entire debt before elapse of
the six-month period after graduation. This condition renders the loan a
Riba-based one. The loan contract in this case, however, is not in itself
prohibited for its purpose since it is possible that the student manages to
settle the debt during the six months. Thus, prohibition in this contract is
prohibition of a means [leading to prohibition] and the contract is prohibited
by virtue of another aspect, not in itself prohibited.
Third: What is prohibited in itself becomes permissible under necessity,
whereas what is prohibited by virtue of others turns permissible by a need or
considerable benefit. Based on this rule and the fact that education
constitutes at least a need, it is permissible for the Muslim student to take a
government-subsidized loan on condition there is a genuine Sharee‘ah approved
need for it. In other words, he could not depend on himself or his parents to
cover his expenses; he did not receive a scholarship; he could not obtain
enough grants; and the money he earns from his work with the university is not
sufficient. In such a case, he would be permitted to borrow what he needs only
since one's need must be answered proportionately. Also, determination to
settle the debt on its due time is required in order to spare oneself the
payment of interests. This must be done as soon as possible after graduation
and before the time of debt becomes due.
Dr.Main Al-Qudah
Assistant Professor of Islamic Studies
Imam, MAS Katy Center
Member, AMJA Fatwa Committee
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سياسة النشر في المجموعة:
ترك ما عارض أهل السنة والجماعة... الاكتفاء بأمور ذات علاقة بالاقتصاد الإسلامي
وعلومه ولو بالشيء البسيط، ويستثنى من هذا مايتعلق بالشأن العام على مستوى الأمة
كحدث غزة مثلا... عدم ذكر ما يتعلق بشخص طبيعي أو اعتباري بعينه باستثناء الأمر
العام الذي يهم عامة المسلمين... تمرير بعض الأشياء الخفيفة المسلية ضمن قواعد
الأدب وخاصة منها التي تأتي من أعضاء لا يشاركون عادة، والقصد من ذلك تشجيعهم على
التفاعل الإيجابي... ترك المديح الشخصي...إن كل المقالات والآراء المنشورة تُعبر
عن رأي أصحابها، ولا تعبّر عن رأي إدارة المجموعة بالضرورة.
