Is it considered sinful for Muslims to work at my job?

[I spent the winter writing songs about getting better]

Something that just came to me, since my job involves federal student loans. They have interest, and loans with interest are considered sinful in Islam. Hence it would be considered sinful for any Muslim to work at my job, or am I mistaken? I did realize this might explain why I have never once seen a woman wearing a hijab there, although I do have some co-workers from a mostly Muslim background who I recall once talking about getting some holiday at the end of Ramadan off some year...so yeah just wondering what the consensus is on this.

[Geoffrey Howe]

Something that just came to me, since my job involves federal student loans. They have interest, and loans with interest are considered sinful in Islam. Hence it would be considered sinful for any Muslim to work at my job, or am I mistaken? I did realize this might explain why I have never once seen a woman wearing a hijab there, although I do have some co-workers from a mostly Muslim background who I recall once talking about getting some holiday at the end of Ramadan off some year...so yeah just wondering what the consensus is on this.

Are the loans interest-free?

Anyway, this might help.
https://moneyfacts.co.uk/mortgages/guides/what-is-a-sharia-mortgage/

[I spent the winter writing songs about getting better]

Something that just came to me, since my job involves federal student loans. They have interest, and loans with interest are considered sinful in Islam. Hence it would be considered sinful for any Muslim to work at my job, or am I mistaken? I did realize this might explain why I have never once seen a woman wearing a hijab there, although I do have some co-workers from a mostly Muslim background who I recall once talking about getting some holiday at the end of Ramadan off some year...so yeah just wondering what the consensus is on this.

Are the loans interest-free?

No (well they are now until September 30 but usually aren't.)

[Geoffrey Howe]

Something that just came to me, since my job involves federal student loans. They have interest, and loans with interest are considered sinful in Islam. Hence it would be considered sinful for any Muslim to work at my job, or am I mistaken? I did realize this might explain why I have never once seen a woman wearing a hijab there, although I do have some co-workers from a mostly Muslim background who I recall once talking about getting some holiday at the end of Ramadan off some year...so yeah just wondering what the consensus is on this.

Are the loans interest-free?

No (well they are now until September 30 but usually aren't.)

Well then there's a good chance it is. I'll defer to others who know more.

[I spent the winter writing songs about getting better]

For the record those "sharia mortgages" basically sound like "charging interest but calling it something else". But even that's not really possible with a student loan.

[Geoffrey Howe]

For the record those "sharia mortgages" basically sound like "charging interest but calling it something else". But even that's not really possible with a student loan.

And they're almost certainly more expensive, which sort of seems to go against the whole idea?

[dead0man]

I've always found religious loopholes to be hilarious.  So you believe in an all powerful, all knowing and perfect God, but he'll never catch us having sex through a hole in a blanket, saying "dang it" or "renting to own" property.

[John Dule]

I've always found religious loopholes to be hilarious.  So you believe in an all powerful, all knowing and perfect God, but he'll never catch us having sex through a hole in a blanket, saying "dang it" or "renting to own" property.

I knew a Muslim guy in my dorm who would come back drunk from partying every night but still expected everyone else to treat his beliefs with the utmost deference. Idk where people get off demanding that others respect their religious dogma when they clearly don't respect it themselves.

[Stranger in a strange land]

For the record those "sharia mortgages" basically sound like "charging interest but calling it something else". But even that's not really possible with a student loan.

And they're almost certainly more expensive, which sort of seems to go against the whole idea?

No, you don't get it. Interest is specifically bad because reasons. Charging extortionary rent is fine. /s

But I do wonder what interest rate these Sharia Mortgages are equivalent to. It's hard because from my brief search, I can only find UK ones: this doesn't seem to be as common in the U.S.

[Geoffrey Howe]

For the record those "sharia mortgages" basically sound like "charging interest but calling it something else". But even that's not really possible with a student loan.

And they're almost certainly more expensive, which sort of seems to go against the whole idea?

No, you don't get it. Interest is specifically bad because reasons. Charging extortionary rent is fine. /s

But I do wonder what interest rate these Sharia Mortgages are equivalent to. It's hard because from my brief search, I can only find UK ones: this doesn't seem to be as common in the U.S.

I found 2.5% for 60% LTV in 2019, which I think is quite expensive.

[🐒Gods of Prosperity🔱🐲💸]

For the record those "sharia mortgages" basically sound like "charging interest but calling it something else". But even that's not really possible with a student loan.

probably to be permissible the payment amount would need to be based on a portion of earnings rather than an interest rate.

[I spent the winter writing songs about getting better]

For the record those "sharia mortgages" basically sound like "charging interest but calling it something else". But even that's not really possible with a student loan.

probably to be permissible the payment amount would need to be based on a portion of earnings rather than an interest rate.

Which as I noted in another thread in the US can be the case but isn't the case always or by default.

[Associate Justice PiT]

I've always found religious loopholes to be hilarious.  So you believe in an all powerful, all knowing and perfect God, but he'll never catch us having sex through a hole in a blanket, saying "dang it" or "renting to own" property.

     Quite on the money. Rules lawyering is an absurd concept when applied to God and serves as a poor witness of one's faith.

[Santander]

Well, first of all, that depends on who you ask. Muslims are very diverse, and their interpretation or observance of various religious laws will differ by individual. There are people who consider themselves Muslims who drink, there are those who have credit cards, and there are those who work at secular banks that charge interest. I don't have any right to declare that they are sinful or bad Muslims for doing so.

Islamic finance is more than merely a loophole to get around usury laws. They provide valuable access to capital and banking services for Muslims and Muslim-owned businesses who are looking to make religiously conscious choices. Most people recognize that financing can't be free, but they also believe usury is wrong in principle.