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Grace Periods - Student Loans

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  • i.carrim
    replied
    Re: Grace Periods - Student Loans

    The issues are certainly not relevant in a Shariah court but here we are in a forum.

    Leave a comment:


  • Sarah5
    replied
    Re: Grace Periods - Student Loans

    Originally posted by i.carrim View Post
    There are two issues here :the interest and the rate which is to be charged after the grace period. The latter is not disclosed.
    The amount matters? I thought it was the principle

    Leave a comment:


  • i.carrim
    replied
    Re: Grace Periods - Student Loans

    There are two issues here :the interest and the rate which is to be charged after the grace period. The latter is not disclosed.

    Leave a comment:


  • Sarah5
    started a topic Grace Periods - Student Loans

    Grace Periods - Student Loans

    :salams:

    I know that interest is riba and it is haram, however, what if a school offers a grace period of 3 years after graduating/dropping out (interest-free debt for 3 years) and later starts charging interest? If this is my only option for Medical School and I will work my hardest and pay every penny I make to give back my debt, would that be halal?

    :jkk:
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