As Millennials deal with the repercussions of student debt and low income, they may be turning to risky financial solutions to help them get by. The number of consumers taking out personal loans increased by 18% between 2013 and 2015, and a Bankrate survey found that 18% of 18-29-year-olds say they are very or somewhat likely to use a personal loan this year—more than any other age group. With 63% of U.S. adults lacking emergency funds, personal loans have become an easy option to get money quickly without negatively affecting their credit scores. (MarketWatch, Bankrate)
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