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Fixed Interest on Student loan


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


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


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