In a recent survey of seminary students, 70 percent felt that borrowing was scripturally prohibited. However, of those who felt that borrowing was prohibited, 90 percent admitted that they had to borrow to attend seminary.
So, are they right? Is borrowing prohibited? And should we feel guilty, as presumably, our seminary students do, if we do borrow? Our last lesson on lending suggests the answer.
The Bible recognizes three types of loans: to our neighbor, to the poor, and stranger. Furthermore, in Psalm 112:5, we read that a "good man … lendeth." If it is good for a man to loan money, then it can be good and proper to borrow money.
Note it "can be" because two issues need to be addressed: 1) Understanding the nature of the borrower-to-lender relationship. 2) Why are you borrowing?
Deuteronomy 28:44, "…he [the lender] shall be the head, and thou shalt be the tail [borrower] and Proverbs 22:7, "…the borrower is servant to the lender," describes the nature of the borrower-to-lender relationship. To be blunt, the lender is in charge. The borrower is subservient to the lender.
There are also risks to borrowing: defaulting, losing your collateral, being unable to pay your bills, being hindered in giving offerings, and facing temptations (ingratitude, resentment, worry, and more).
Considering the nature of the relationship and the possible dangers and temptations of debt, what would be a biblical debt? Answer: a debt that helps us move long-term from the position of debtor to lender. For example, loans for buying a business or attending college. Consumer loans, including for cars or homes, should be taken on reluctantly and only after careful prayer and seeking counsel. |
