All perfect praise be to Allaah, The Lord of the Worlds. I testify that there is none worthy of worship except Allaah, and that Muhammad is His slave and Messenger.
We have already issued Fatwa 84942 clarifying that obedience to parents is only within what is permissible and that it is not permissible to obey them in what is forbidden. Borrowing money with Riba (interest and/or usury) is forbidden except in case of necessity, and it is not a necessity to borrow money for such studies. Therefore, it is not permissible for you to obey your parents in borrowing money with Riba for these studies.
However, if you can achieve the will of your parents and study in this university by earning some lawful money without facing extra difficulty when doing so, then you should do so as Allaah may open many doors of good for you thanks to you being kind and dutiful to your parents.
Allaah Knows best.