Does student loan count as Riba?

0	In England it now costs £9,000 a year to go to university. The only way i can go to university is if i take out a loan. The student loan system requires you to repay the borrowed money by paying installments plus the rate of inflation and an extra 3% on top of that. As there is no other way of me getting into higher education is this permissible and does this count as riba?
riba asked Feb 06 at 12:51 aaziz7 10

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According to the British student loan system, you are not paying for interest but the inflation rate. so if the value of money has gone down since, you will still be paying the original loan back. something like that.

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answered Feb 06 at 16:19 ZAli 45●6

yeah but since the new system has come into place you dont just pay inflation you pay an extra 3% on top of that too

(Feb 07 at 13:38) aaziz7

I think that would count as riba, but I am not entirely sure, so it is advised to ask someone more knowledgeable.

(Feb 07 at 13:43) ZAli

ok thank you!

(Feb 07 at 13:45) aaziz7

No problem

(Feb 07 at 13:49) ZAli

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Asked: Feb 06 at 12:51

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Last updated: Feb 07 at 13:49

Does student loan count as Riba?

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