I am considering on taking a student loan which is upto ten thousand pounds and you only have to pay it back after you graduate from university and have a job in which you earn over fifteen thousand pounds.
So would i be consirded in debt and not have to give zakah, or do i have to give zakah because it is not certain that i will get a job which will relieve from paying the debt?
Al-jawab billahi at-taufeeq (the answer with Allah’s guidance)
1) Student loan are not permissible in Islam.
2) There is no Zakat upon anyone who has a debt encompassing his money. But, if his money is more than the debt, he pays Zakat on the excess if it reaches Nisab. (Quduri)
And Only Allah Ta’ala Knows Best.
Moulana Qamruz Zaman
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