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Avoiding Payday Loans

"Most payday loans are packaged as short-term loans for temporary needs with 15 percent annual percentage rate for two weeks. However, if the borrowers fail to pay back the money and renew the repayment term for a year, they can end up being charged as much as 400 percent annual percentage rate."- Medill Reports of Northwestern University

"Most payday loans carry extremely high fees that equate to an average annual interest rate of 391 percent."- USPS Office of Inspector General

WestHawaii: States Look To Crack Down on Payday Lenders

NewYorker: What Good are Payday Loans?

Bankrate: 4 Alternatives to Payday Lending

FTC: Consumer Information on Payday Loans

NYTimes: Major Banks Aid In Payday Loans Banned by States