Kizzy Tucker
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Financial Institutions Are Offering Payday Loans For Favorable Research Studies

We live in a world of academic research and education has great importance in our lives. Professors and teachers look for research studies to teach their children about different matters related to their subject. There are many industry sponsored studies as well which are funded by the third parties who find the research subject matter directly or indirectly favoring their bottom line.

The concept of industry sponsored studies is prevalent in almost every filed today ranging from the food to environmental sciences, even the financial institutions are offering payday loans to the students for research studies that may benefit their bottom line and increase their business.

A Live Example of Payday Lending for Favorable Research Studies:

It is not evident that the third party group is not just providing payday loans to the students but have personal interest in doing so. But a recent article on Yahoo! Finance show the living example of this situation:

According to the Campaign for Accountability report, The Tech Associate Professor of the University of Arkansas, Marc Anthony Fusaro was paid a handsome amount of money by Consumer Credit Research Foundation. According to the report, the amount is nearly $40,000. The amount was funded for the research study that showed that the customers are not trapped in the cycle of debt by the payday interest rates.

For the people who do not know about payday loans, here is a quick intro. Payday loans are the type of unsecured loans which are taken for smaller periods of time but it involves high interest rates. People can take payday loans when they have unexpected expenses and their salary is days away. When the borrowers are unable to pay back the loans within that short period of time, the lenders have the ability to charge as much as 400 percent interest on the loans which make the borrower to take other loans to repay the first one thus engaging in cycle of debts.

The study was published in 2011 at the time when majority of the states were cracking down. The researcher professor works with nine companies that give payday loans to compare the ratio of returned loans including groups who offer interest-free payday loans and those offering payday loans with interest. You can also visit http://nonprofitmapping.org/payday-loan-bank-reaches-4-9m-for-settlement/ this link to get to know more news about payday loans.

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