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Why Personal Loan Debt Is Quietly Crippling Social Mobility — And What You Can Do About It - Social News Daily
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Why Personal Loan Debt Is Quietly Crippling Social Mobility — And What You Can Do About It - Social News Daily
Personal loan debt has become a silent epidemic in America, with 24.5 million Americans owing a collective $251 billion as of Q4 2024 – a 2.4% increase from the previous year, according to LendingTree. But beyond these staggering numbers lies a more insidious reality: this growing debt burden is systematically undermining social mobility for millions. The average personal loan debt per borrower now stands at $11,607. While this might not seem ca…
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