Is Zakat obligatory on money set aside for studies if it reaches the nisab?

Zakat is obligatory on money saved for studying if it reaches the nisab and a full lunar year (hawl) passes over it. If it falls below the nisab during the hawl, then no zakat is due on it. The nisab for current banknotes is approximately the equivalent of eighty-five grams of gold, or the equivalent of 595 grams of silver. The amount that must be given is a quarter of a tenth (two and a half percent).