Owe no one anything, except to love each other, for the one who loves another has fulfilled the law. —Romans 13:8 (ESV)
The most immediately obvious exegesis of this verse would be to take it to be prohibiting monetary debt. However, in the preceding verses, Paul is not so much discoursing on money as on obedience to authority. Verse 7 is particularly important to understanding 8:
Pay to all what is owed to them: taxes to whom taxes are owed, revenue to whom revenue is owed, respect to whom respect is owed, honor to whom honor is owed. (ESV)
Thus, on a closer look, it seems that verse 8 is not focusing on taking loans. But even though I don't take that to be the focus, the question remains, to what degree or in what manner does it apply to loans? What clues do we have from chapter 13, the rest of Romans, or the wider body of Paul's writings to determine whether Paul is speaking hyperbolically as a segway into a discourse on love, or whether these words are to be attended to literally?
At face value, this is a very strong statement—but I want to be careful to interpret in the full light of context.