Is zakat obligatory on money saved for children's education that is cumulatively increasing, while there is still an unpaid debt?

Zakat is obligatory on wealth if it reaches the nisab and a full year has passed over it. If there is a debt, and there is other wealth exceeding basic needs, it should be used to pay off the debt. Otherwise, the zakatable wealth is subject to two situations:

1. If the debt does not reduce the nisab: Zakat is obligatory on what remains of the wealth after deducting the debt. This is based on the saying of Uthman, may Allah be pleased with him: "This is the month of zakat on your wealth, so whoever has a debt, let him pay off his debt, then let him pay zakat." 2. If the debt reduces the nisab: The majority of scholars hold that debt prevents the obligation of zakat on internal wealth (gold, silver, money, and trade goods). So, if the debt reduces the nisab or consumes it entirely, there is no zakat on this wealth.