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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The LATEST from the Project
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- Press Release
- Safe Small-Dollar Loans Research Project
Pew Survey: Payday Loans Fail to Work As Advertised
A new report from The Pew Charitable Trusts, Payday Lending in America: How Borrowers Choose and Repay Payday Loans, sheds light on the decision 12 million Americans make every year to use a payday loan.
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- Featured Collection
- Safe Small-Dollar Loans Research Project
Payday Lending in America
This collection presents original research findings from the Pew Safe Small Dollar Loans Research Project 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.
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- Infographic
- Safe Small-Dollar Loans Research Project
How Payday Loans Work
Each year, millions of people struggle to pay their bills. A consumer usually has several options to consider. more
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- Infographic
- Safe Small-Dollar Loans Research Project
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- Media Coverage
- Safe Small-Dollar Loans Research Project
Marketplace: Payday Lenders Inspire Mixed Feelings From Borrowers
Payday loans are advertised as quick fixes. But a new report from The Pew Charitable Trusts found the average borrower ends up in debt for five months. more
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- Media Coverage
- Safe Small-Dollar Loans Research Project
CNNMoney: Americans in Love-Hate Relationship with Payday Loans
(Borrowers) say the loans rip them off, yet the relief of quick cash leaves them coming back for more. more
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- Media Coverage
- Safe Small-Dollar Loans Research Project
Cleveland Plain Dealer: New Study Finds Most Payday Borrowers Can't Repay Loans
A staggering 86 percent of payday loan customers can't afford to repay their loans from their monthly household budgets, according to a new study from Pew Charitable Trusts. more
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- Media Coverage
- Safe Small-Dollar Loans Research Project
Seattle Times: Op-ed: Payday-lending Law Works in Washington State
THE Washington Legislature is the subject of more than its fair share of criticism, but we should recognize that it passes laws that protect the public and save us money. more
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December 3, 2012
Paying for the Holidays
As the holiday shopping season takes off, consumers are turning to a variety of financial management tools. View our slideshow and learn more about Pew’s research on hidden bank fees, the growing use of prepaid debit cards, and the actual duration of payday loans that are marketed as two-week products.
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- Infographic
- Safe Small-Dollar Loans Research Project
Payday Loans Really Add Up
If you took out a loan for the following season expenses, you would pay far more and be indebted far longer than advertised.
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