In the Name of Allah, the Most Gracious, the Most Merciful.
As-salāmu ‘alaykum wa-rahmatullāhi wa-barakātuh.
It is permissible to stipulate students and scholars as beneficiaries of a Waqf. Any noble group of people can be designated as beneficiaries of a Waqf.
And Allah Alone Knows Best
Mufti Faraz Adam,
I Waqf Shariah Advisor