(Devarim 15:2) "And this is the word of the shemitah": From here it was ruled: If a debtor returns his debt in the seventh year, the creditor must tell him: "I release it."

"And this is the word of the shemitah": From here it was ruled: Shemitah releases a loan, but the Jubilee year (Yovel) does not release a loan.

For it would follow: If shemitah, which does not release servants, releases a loan, then Yovel, which releases servants, how much more so should it release a loan! It is, therefore, written "And this is the word of the shemitah" — shemitah releases a loan, but Yovel does not release a loan.

A kal vachomer (a fortiori argument) that shemitah should release servants, viz.: If Yovel, which does not release a loan, releases servants, then shemitah, which releases a loan, how much more so should it release servants! It is, therefore, written (Vayikra 25:13) "In this year of Yovel, each of you shall return to his holding: "This" (i.e., Yovel) releases servants, but shemitah does not release servants. Shemitah releases (loans), but Yovel does not release (loans).

"release": I might think he also (releases) what was stolen from him or what he deposited with someone; it is, therefore, written "his claim" (and not the others).

And whence is it derived (that also released are) the wages owing a hired man and the credit given by a merchant? From ("his claim) that he has against his neighbor."

If in the end all are included, why is it written "his claim"? Just as "his claim" connotes his loan, so all that are construed as a loan (are released).

"He shall not exact it": This makes him subject to transgression of a negative commandment (if he does exact it).

"his neighbor": to exclude others (i.e., gentiles).

"and his brother": to exclude a sojourning stranger (ger toshav).

"because it has been declared shemitah to the L-rd": (The institution of money-release obtains) both in Eretz Yisrael and outside it.