08 August, 2017
Q
As-salamu `alaykum. Is it permissible for a student to go for `Umrah or Hajj with a student loan which he intends to pay in full, within the grace period, without any interest after completing his college? Jazaka Allah Khayr.
Answer
Wa `alaykum as-Salamu wa rahmatullahi wa barakatuh.
In the Name of Allah, Most Gracious, Most Merciful.
All praise and thanks are due to Allah, and peace and blessings be upon His Messenger.
In this fatwa:
It is permissible to have a loan without interest for performing Hajj and `Umrah as long as one has a strong intention and the ability to pay it back.
In his response to your question, Prof. Dr. Monzer Kahf, Professor of Islamic Finance and Economics at Qatar Faculty of Islamic Studies, states:
If his intention to pay the student loan within the grace period is coupled with his real ability to do so, I find no reason for not using the student loan for Hajj, `Umrah or any other purpose.
Allah Almighty knows best.