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Fast Cash and Payday Loans (Page One Economics, Focus on Finance)

Payday loans are convenient and provide FAST cash to cover emergency situations or help pay a borrower’s expenses from one paycheck to the next. But the fee-based structure of payday lending is quite different from a traditional loan, and laws vary among the states. The April 2019 edition of Page One Economics®: Focus on Finance takes a look at the structure and fees that make these loans costly.

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This lesson received the 2020 Curriculum Bronze Award of Excellence from the National Association of Economic Educators.
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Audience:   Middle School, High School, College, Consumers
Language:   English
Subjects:   Personal Finance, Career and Technical Education
Resource Types:   Publications, Lessons
Concepts:   Non-Bank Financial Services, Types of Loans, Credit, Lenders/Borrowers, Interest