Consumer Ed Resource – The Risks of Payday Loans

Through a cool blog called Cool Infographics I learned about The purpose of is to educate people about the risks of taking a payday loan. They try to educate visitors through a combination of articles, infographics, and interactive guides. I knew that payday loans had obscenely high APRs but what I didn’t know, and learned from their infographic, is that in many states the APR for payday loans can exceed 1000%. The most accessible and educational resource offered by is their How Payday Loans Work interactive tour.

Applications for Education
If you teach consumer education lessons, is a great resource to add to your collection. As part of a larger lesson on consumer borrowing you could have students compare the risks of payday loans with the risks of credit card debt.

Here are some related items that may be of interest to you:
Saving Money in Plain English
Investing in Plain English


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