I am a third year medical student. My parents can no longer afford to pay the expenses for my studies.

Answer

An interest-bearing loan is haraam. The circumstance of secular studies or even Deeni studies does not make permissible paying interest. The objective of secular study is to establish a means of earning rizq. Such means may not be acquired in a haraam way. Rizq is predetermined and sealed. We are allowed to pursue our Rizq in only halaal ways. If an interest free loan cannot be obtained from some Muslims, and if there is no one prepared to grant a bursary, then the student has to abandon his studies for the present. If the only way in which a business could be commenced is by acquiring a bank-loan, it will not be permissible to initiate the business. The person will have to rather go cut grass, wash cars or do something else for his livelihood. But, he may not acquire an interest-bearing loan.