Wa `alaykum as-salamu wa rahmatullahi wa barakatuh.

Taking or giving interest is absolutely prohibited. This is one of the most heinous and major sins in Islam. Allah says what means: “Those who consume interest cannot stand [on the Day of Resurrection] except as one stands who is being beaten by Satan into insanity. That is because they say, “Trade is [just] like interest.” But Allah has permitted trade and has forbidden interest. So whoever has received an admonition from his Lord and desists may have what is past, and his affair rests with Allah. But whoever returns to [dealing in interest or usury] – those are the companions of the Fire; they will abide eternally therein.” (Al-Baqarah 2:275)

It has also been proven that the Prophet (peace be upon him) cursed the one who consumes riba and the one who pays it. (Al-Bukhari)

He further said: “A dirham which a man consumes as riba knowingly is worse before Allah than thirty-six acts of zina.” (Ahmad and At-Tabaraani)

He also said: “There are seventy-two types of riba, the least of which is like a man committing incest with his mother.” (At-Tabarani, al-Awsat; it is graded as an authentic hadith).

If you have a case of severe necessity such as the indispensability of having this specific type of education, you must consult a scholar on whether the law of necessity applies to your case or not.

In your case you have two violations: 1) committing a clear prohibition by taking a loan which includes interest and 2) committing a lie for getting something prohibited.

My view is that you must avoid such a transaction. Allah will surely compensate you with a lawful means of continuing your education without committing any of those major sins.

As a Muslim, our ultimate goal is to please Allah and to fulfill our obligations towards Him.

Allah Almighty knows best.