A Conceptual Design for Qardhul Hasan Student Financing through BAZNAS with Income-Contingent Repayment

author1 sholeh — Sat, 03 Oct 2026 00:00:00 +0000

Grant based higher education assistance does not always reach students facing temporary funding gaps, while commercial loans create concerns about interest and post graduation repayment burdens. This study aims to formulate a BAZNAS-administered student financing model that preserves sharia boundaries while linking repayment to verified graduate capacity. A descriptive phenomenological approach was applied in Surabaya. Primary data were obtained from semi-structured interviews with eleven undergraduate students, three managers of BAZNAS Surabaya, and one Islamic economics expert. Secondary data comprised regulations, a sharia fatwa, and academic literature. The analysis proceeded through epoche, horizontalization, clustering of meaning units, and synthesis of the phenomenon's essence, supported by source triangulation. The findings support principal-only qardhul hasan, strict separation of zakat and non-zakat funds, direct university payment with semester monitoring, and income-contingent repayment that adjusts instalment timing and size without creating profit sharing. The novelty is a five-layer institutional design separating the contract layer, fund-source layer, operational-control layer, repayment layer, and hardship-resolution layer. The resulting model is conceptual operational rather than implementation ready and requires cash flow simulation, sharia validation, standard operating procedures, data protection controls, and a limited pilot. Its numerical ICR parameters are illustrative pilot parameters, not validated empirical findings. Conceptually, the study extends Islamic social finance into higher education financing by showing that an accountable benevolent-loan design requires five coordinated institutional decisions rather than a stand-alone interest-free contract.

Latihan Kelola OJS

A Conceptual Design for Qardhul Hasan Student Financing through BAZNAS with Income-Contingent Repayment