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Fixed Interest on Student loan

Q:

I am international student in Germany and my total tuition fee is 28000 Euro. From the university i have an offer that if i can't pay the full amount now then i can pay 10000 euro now and the rest 18000 Euro will be loan from them and on this 18000 Euro i have to pay 5000 Euro total Interest which will not increase than this amount and this total amount 18000+5000= 23000 euro i can pay in 10 year installments. can you please tell me that is this allowed in Islam. Thanks

A:

Yes, it is allowed. The point is that you need to return back the money as per the contracted.

 

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