Darul Iftaa Mahmudiyyah

Student loan & Zakat

· 27 Shaʻban 1434 AH1 min readFatwa 25959English

Question

I have a student loan of £9000 that has gone direct from the student loan company to my university and is payable by me once I earn over £15,000, but I have not reached the payment stage yet. Also as part of the student loan they have given me £5000 and deposited it in my student bank account. I have a job and have £11,000 in a separate personal bank account. On what do I pay Zakat?

Answer

In the Name of Allah, the Most Gracious, the Most Merciful.

As-salāmu ‘alaykum wa-rahmatullāhi wa-barakātuh.

According to your explanation, you have a liability of £14 000 and you have £11 000 savings in your personal bank account.

Your liability exceeds your savings and therefore you are exempt from Zakaat.

And Allah Ta’āla Knows Best

Mufti Ebrahim Desai.

Answered by
Mufti Ebrahim Desai
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Source: Darul Iftaa Mahmudiyyah — https://askimam.org/public/question_detail/25959
Fatawa SA: https://fatawa.co.za/fatwa/askimam-25959

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