Q: Can I take a student loan if it’s the only way I can afford to go to university?
الجواب حامدًا و مصليًا و منه الصدق و الصواب
A :Whilst the importance of getting a university education is acknowledged, it must be maintained that it cannot be done at the expense of the prohibition on riba.
Whilst university education is important, it is an elective lifestyle choice and one can earn a perfectly respectable livelihood without going to university.
In addition, the plans to raise student fees will further disadvantage Muslim wanna-be university students and thus the relative authorities need to be lobbied to provide a comparable interest-free alternative.
For more information, please read our detailed fatwa on this matter here