Is the contract permissible in Sharia whereby the fund purchases the university seat and pays the university fees, then sells it to the student in installments with a known profit, with the fund bearing the risks and with no increase in case of late payment?

It is permissible for the fund to rent a study seat from the university and then lease it to the student, allowing the student to pay the rent in installments with an agreed-upon profit margin added, provided that the fund first owns the seat before selling it to the student, and that no late fee is imposed on the student if they delay payment. If the agreement between the fund and the student is non-binding on either party, then it is permissible. However, if it is binding, it is not permissible because the fund would then be selling what it does not yet own.