I don't take loan at all and I am not against those taking it but many people that take loan doesn't calculate how much to be taken in respect with their income. Loan amount is not supposed to be higher or 80-100% up to your income, that amount of loan is dangerous, it destroys yourself and whoever is involved in it. If earning $100 a month, loan amount should be $5 or less.
And many people do not know that loan is addictive, you get used to it little by little until it becomes part of you, so you should be over conscious when taking loan.
I agree with you, one should definitely keep these things in mind when taking a loan, that is, how will he repay the loan later and what is the interest rate on that loan. Those who do not care about these things and take extravagant loans just to show off their life without any need, basically cannot easily get out of that loan trap.
Moreover, there is a popular saying in my country that says, "Once someone falls into the loan trap, they can't get out of it." So I think one should never be attracted to loans without necessity. I myself have not yet decided to run my life, I hope I will be able to continue this in the future if no critical situation arises.