I am repaying my student loan right now. What can I deduct from my Zakat calculation?
A: You may deduct the next 12 lunar months’ worth of capital repayments of the loan from your gross Zakatable assets total. You should not deduct the interest repayment. However, if you’re likely to be able to repay the debt and you will not be affected by paying Zakat, then we advise that the debt shouldn’t be taken off.
And Allah knows best!
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