Student Loans and the Sin of Usury

A new school year has just begun, and students and their parents are faced once again with the high cost of higher education. The Supreme Court ruled President Biden’s executive order on student loan forgiveness unconstitutional. Continue Reading...

Is it immoral to charge interest?

Interest-bearing loans are commonplace in today’s economy, but are a subject of great contention in many of the world’s great intellectual and religious traditions. The Mosaic Law dictates: “If you lend money to any of my people who are needy among you, do not be like a moneylender to him; do not charge him interest” (Exodus 22:25). Continue Reading...

Christianity and the Rise of Capital

“Money has not only the character of money,” says Samuel Gregg in this week’s Acton Commentary, “but it also has a productive character which we commonly call capital.” Like all medieval clergy, Olivi and Bernardine fiercely opposed usury. Continue Reading...

Alabama Church Pays Off Payday Loans

About twenty years ago I made some terrible choices and found myself in a serious financial bind. The amount I needed wasn’t much — about $200 — but without it I wouldn’t have been able to pay my rent. Continue Reading...