Safe Small-Dollar Loans Research Project

Safe Small-Dollar Loans Research Project

 
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Overview

Pew's Safe Small-Dollar Loans Research Project focuses on small-dollar credit products such as payday and automobile title loans, as well as emerging alternatives. The project works to find safe and transparent solutions to meet consumers’ immediate financial needs.

Why Safe Small-Dollar Loans Matter

Millions of American families spend billions of dollars taking out payday loans each year. These loans typically offer about two weeks of credit, but at annual interest rates around 400 percent. There is little research about how small credit can most help consumers without creating a cycle of high-cost debt.

How We Conduct Our Work

Pew's Safe Small-Dollar Loans Research Project seeks to identify and analyze borrowers’ needs, expectations, and experiences when it comes to small-dollar credit. It also researches a variety of loan products and the business models used by their providers, with a focus on studying the impact on borrowers.

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April 10, 2014
 

How State Rate Limits Affect Payday Loan Prices

Storefront payday loans are available in 36 states. Borrowers in some of them pay twice as much for the same loans that comparable customers get in other states. Pew’s research indicates that a state’s limit on interest rates is the key factor driving loan pricing. More
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May 28, 2013
 

Payday Loans: What Are They, Who Uses Them, and Why?

Pew's Safe Small-Dollar Loans Research Project seeks to identify and analyze borrowers’ needs, expectations, and experiences when it comes to small-dollar credit. More
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October 30, 2013
 

Payday Lending in America

This collection presents original research findings on the existing landscape for payday lending around the country, state-by-state data on loan regulation, and other information critical to creating a safe and transparent marketplace for those who borrow small sums of money. More
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