I have an old (more in the sense of worn than in the sense of antique) rug where the selvedge is in the process of, or in some places already has, come undone. As far as I can tell, this doesn't appear to have compromised the structure of the rug any, but I'm worried that eventually it might (without the selvedge, there's nothing actually holding it together, right?).

What is my best course of action, give that the rug isn't really worth much? Leave it and hope for the best, trimming off the raggedy bits? Or do I need to have it repaired right away? If so, any idea how much it would cost for a 5x7 rug? If it matters, the existing selvedge is a very dark material, maybe goat hair?