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Typically, the debate is framed as "Once Saved Always Saved" i.e. Perseverance of the Saints i.e. Eternal Security on the Calvinist side, and Conditional Security on the Arminian side. This is a good example of how each position is only partially correct, and therefore neither is correct, since scripture teaches both sides of the issue.
There are those who are eternally secure and will never fall away. These are Christ's sheep, the elect. However, there are also those who believe for a while and later fall away (Luke 8:13). Those who don't fall away, who endure to the end (Matthew 24:13), were known to God from before they were even born (Romans 9:11). God knows their salvation is eternally secure, and they will be saved.
Scripture doesn't tell us how to distinguish between the two. After all, we can't see the future, so we don't know what someone might or might not do. But, God can, and He does know. That's why we are told to work out our salvation with fear and trembling (i.e. to persevere), since the fear of the Lord is the beginning of wisdom. If you want security in your salvation, simply don't turn away.
So to sum it up, there is eternal security, but God is the one who knows, not us. Enter by the narrow gate.
There are those who are eternally secure and will never fall away. These are Christ's sheep, the elect. However, there are also those who believe for a while and later fall away (Luke 8:13). Those who don't fall away, who endure to the end (Matthew 24:13), were known to God from before they were even born (Romans 9:11). God knows their salvation is eternally secure, and they will be saved.
Scripture doesn't tell us how to distinguish between the two. After all, we can't see the future, so we don't know what someone might or might not do. But, God can, and He does know. That's why we are told to work out our salvation with fear and trembling (i.e. to persevere), since the fear of the Lord is the beginning of wisdom. If you want security in your salvation, simply don't turn away.
So to sum it up, there is eternal security, but God is the one who knows, not us. Enter by the narrow gate.