In the name of Allah, the most Beneficent, the most Merciful.
Answer
Being free of debt is a condition for Hajj being obligatory on an individual. (Fatawa Hindiyyah p.217 v.1)However, this condition doesn’t apply in the case of student loans. The reason for this is that student loans aren’t due immediately, but rather paid off in instalments. If a person has enough wealth besides his annual instalments then Hajj will become obligatory upon him.
Only Allah Knows Best
Mohammed Tosir Miah
Darul Ifta Birmingham