Are school loans an acceptable form of debt?
The New American Standard Bible translates Romans 13:8 as follows: “Owe nothing to anyone.” This would appear to prohibit debt. The New International Version reads, “Let no debt remain outstanding.” This translation would allow debt, but insists it be paid off as soon as possible. Hudson Taylor and Charles Spurgeon believed that Romans 13:8 prohibits debt altogether. However, if going into debt is always sin, it’s difficult to understand why Scripture gives guidelines about lending and even encourages lending under certain circumstances. If debt is always sin, then lending is aiding and abetting sin, and God would never encourage it. Being in a position to lend money to others is a blessing, whereas being the borrower is a curse (see Deuteronomy 28:44-45). Unless there’s an overwhelming need to borrow, it’s unwise for God’s children to put themselves under the curse of indebtedness. At the very least, Romans 13:8 proves that we shouldn’t normally borrow, and should always pay off debt
