UNI MONEY

[East.Co]

walal

the tuition free loan is intrest free yh...£3000 (u dont touch this, goes str8 to the uni)

and the grant is not a loan...dats £2700 a year

only the stupid mantenance loan is xaram coz dats got intrest! (extra £3000 a year for instance if u live on campus or somin...but bare headz get this for dumb reasons)

[mizluvsgold]

[quote="East.Co"]walal

the tuition free loan is intrest free yh...£3000 (u dont touch this, goes str8 to the uni)

and the grant is not a loan...dats £2700 a year

only the stupid mantenance loan is xaram coz dats got intrest! (extra £3000 a year for instance if u live on campus or somin...but bare headz get this for dumb reasons)[/quote]

well i was talking about the maintainance loan and most somali ppl seem to get this so they can buy a car with it they seem to ignore the fact that its xaram

[*Nobleman*]

Bro student loans are haraam, i graduated last year and i'm more or less and expert in this field. They say the loan is interest free, but repayments goes up with inflation, which in real terms u pay back the real value of what u took. I asked an islamic finance expert and a sheikh and they both told me that student loans are haram, because the simple fact is that you are not repaying what you took.


but this year the game has changed, the loan has an interest rate which is linked to inflation and the bank of England rate, which is interest (riba) and is therefore haram.

when i went uni everything was free for those on lower incomes, plus i use to get a 1000 grant every year. I took the loan first year-3000 and i recentley paid the full cash balance at 3400, after what the noble sheikhs told me.

A girl that works with me repays 38 quid a month and the interest alone is 68 a month.


but the problem is u yunga guys have to pay tutition fees, where it was free for me .



current slc rate is 4.8%, inflation is 2.75%, look on slc.co.uk

[SLEW_DEM]

^^ Well Said, it is based on Inflation and will increase with the time value of money so it is haram.....

-Executive-

[MujahidaFiSabililah]

Asalamu Alaykum

Maintenance Loan 3000
Tuition Fee Loan 3000
Maintenance Grant 2765

Most Tuition Fees Are 3070.

Use the grant to pay of tuition fee and add on 300 from money form your part time work or parents.

Then you also qualified for bursary so use that for travel and books! SIMPLE!

[Tha Problem...]

[quote="MujahidaFiSabililah"]
Use the grant to pay of tuition fee and add on 300 from money form your part time work or parents.
[/quote]

8)

Bang On, and with the part time work, there is no tax as I is a student...BALLLLIIINNN