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Deducting Student Loan in Zakaat

Answered as per Hanafi Fiqh by Askmufti.co.za
Q: Can a student loan balance be deducted when calculating zakaat?
A: If the student loan is being paid in monthly instalments then one may only deduct the current instalments from one’s assets when calculating zakaat. It won’t be correct to deduct the entire loan. This rule applies to any loan that is paid off in monthly instalments.
And Allah Knows Best
Mufti Siraj Desai

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This answer was collected from AskMufti.co.za, which is operated under the supervision of Mufti Siraj Desai of Darul-Uloom Abubakr, South Africa.

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