The Prophet Muhammad (Peace be upon him) encouraged us metaphorically by saying “Seek knowledge, even in China.” The education of our children is our obligation. We look forward to it with optimism but also apprehension. Skyrocketing tuition, far outpacing inflations makes it necessary for you to plan well ahead. But what are the options?
Allied Asset Advisors aims to empower its investors to be prepared for the education of future generations while upholding their beliefs.
Often parents don’t realize that educational expenses are more than just tuition. They may include
Room and board
Student activity fees
Lab and other fees
Assumes 6% Annual inflation
*These estimates have been calculated using the College Cost Calculator at the College Savings Plans Network. If you like, you can calculate the costs yourself, too.
The figures calculated are based on a hypothetical scenario. The performance shown is not indicative of any particular investment. Actual results will vary.
Not always reliable. Composition may not be halal. Repayment is interest based.
You must learn how an Estimated Family Contribution is calculated to determine the amount of financial aid or eligibility.
College Savings Resources
Clicking on the links below will take you to a third party site. The Iman Fund is not responsible for the content, nor does it sponsor any information provided on a third party site.
This may be your most reliable option. Your investments can be halal and have the potential to grow sufficiently based on the amount you invest.
There are thousands of applicants for only a few scholarships or grants. The chances of getting them are often small due to high demand.
Tax-free growth. Prepaid tuition plans allow you to buy credits at today’s cost – could be halal. These investment plans are not halal.
Used only for education – could be halal. Learn more about Iman Funds CESA accounts.
Diversified, professionally-managed, and offer potential for long term growth. These could be halal.
Fixed income – could be halal.
Flexible use of the child’s fund. Can be transferred to another child, however, the funds may only be used for educational purposes.
Lifetime Learning and American Opportunity.
Your child’s eligibility for financial aid is based on many factors such as family income, parent and child assets, and investments. An EFC formula using federal institutional methodology is applied to determine EFC or your child’s financial aid need.
The Fund invests in foreign securities, which involve greater volatility and political, economic, and currency risks and differences in accounting methods. It is possible that the Islamic Shari’ah restrictions placed on investments and reflected in the main investment strategies may result in the Fund not performing as well as mutual funds not subject to such restrictions.
Past performance is not indicative of future results.
Diversification does not assure a profit or protect against a loss in a declining market.
The Fund is not available for sale to investors residing outside the United States.
The prospectus contains more complete information, including risks, fees, and expenses related to an ongoing investment in the Fund. You may also receive the prospectus or summary prospectus by calling (877) 417-6161. Please read the prospectus carefully before you invest or send money.
While the fund is no-load, management fees and other expenses still apply. Please refer to the prospectus for further details.
Allied Asset Advisors, LLC, an SEC registered investment advisor, is advisor to Iman Fund.
Iman Fund is distributed by Quasar Distributors, LLC.
The Iman FundAllied Asset Advisors, Inc.8925 S. Kostner AvenueHometown, IL 60456
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Call: (877) 417-6161 Office: (630) 789-0453 Fax: (630) 789-9455