Is interest-based educational loan allowed?

Students from economically backward communities who opt for higher studies generally depend on educational loans, which are offered with interest, either by banks, developmental organisations, or by government, if they don't get a scholarship high enough to meet their needs. I support the idea of doing a small job first, earn the required amount and then going further in studies. But, this would take more than a single year to earn even a single year's fee. Not all students are bold enough to ask for zakaat, and even if they are bold enough, they may not get the suitable sources. In such scenarios where a student has no financial sources but the interest-based education loan, should a student abandon his studies?