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Teaching Question
Fatwa Answer
A Subsidized Stafford Loan is a need-based loan. The Federal Government pays the interest while you are enrolled in school.
In other words government pay the interest instead of student
Is above loan permissible?
بسم اللہ الرحمن الرحیم
الجواب وباللہ التوفیق
Interest is a major component of this loan. The debtor is required to pay interest on this loan after completion of his schooling, therefore it is not permissible.
اَحَلَّ اللّٰہُ الْبَیْعَ وَحَرَّمَ الرِّبٰوا(البقرۃ: ۲۷۵)
وَذَرُوْا مَا بَقِیَ مِنَ الرِّبٰوا اِنْ کُنْتُمْ مُؤْمِنِیْنَ(البقرۃ: ۲۷۸)
عن ابن مسعود رضي اللّٰہ عنہ قال: لعن رسول اللّٰہ صلی اللّٰہ علیہ وسلم آکل الربوا وموکلہ … الخ۔ (صحیح مسلم رقم: ۱۵۹۷)
فقط واللہ اعلم بالصواب