A group of scientists led by faculty during the University of Georgia discovered that cash advance borrowers frequently originate from center- and higher-income households, not merely poor or lower-earning populations.
Mary Caplan, an associate professor into the class of Social work on UGA, led a study that analyzed a nationally representative dataset from the Federal Reserve BoardвЂ™s 2013 Survey of Consumer Finances.
The study ended up being administered among 6,015 U.S. households, plus it includes information aboutincome, retirement, investing, debt while the utilization of economic solutions. Continue reading “Pay day loans not merely a bad personвЂ™s problem. Scientists discover that borrowers exist in most taxation brackets”