Wise Yet True

Loan = borrowed money that is serviceable.
Debt = borrowed money that is unserviceable.

Loan = borrowing money to buy assets that appreciate.
Debt = borrowing money to buy things that depreciate.

Deut 15:6, Deut 28:12, Ps 37:21

An average Singaporean who has taken a bank loan for his education, computer, wedding, 5-room flat, car... e.t.c.
... will spend the next 13 - 14 years being a servant to the bank,
... paying the bank anopther 40% for the money he borrowed.