National Payday Loan Blog

Curently in the Lead:

2015 NPD Scholarship Entry: Pay Day loans can be tricky

scholsmallBy: Brandon stewart

I think that payday loans could be better modified in a way to help people who truly need them by giving people more options when it comes to paying that loan back. Also I think that payday loans while they may get thing for that temporary amount of time having to pay them back can be a challenge for a lot people. We always see commercials of payday loans for example the big names like Amscot which is probably one of the greatest known places for giving out payday loans. Places like these seem like great places for those people who need some quick cash at the moment. (more…)

2015 NPD Scholarship Entry: Banks Need to Know!

scholsmallBy: Jordan Bryant


Loans are the good and evil of this world. They help you in a pinch but also can really help if you want to complete life goals. But no one ever thinks about how loans are given. The ways loans are given now is that if you have good credit and a stable job then you are given the money. The bank looks at you and your money the same way a college does, by how much you earn and how much you need/want. They never actually break it down to what your 40,000 thousand a year is being spent on. The bank only seems to know that you have 40,000 thousand dollars a year so of course you can pay back the loan. Some banks do not look thoroughly enough on who they give loans to then end up scratching their heads and wondering why they are not getting their money back in a time manor. Now yes, there are those people that badly need the payday loan to eat and come out of debt, but are we really helping them out? Sure they will be able to breathe easy for a few months then the cycle just starts over again. We need to be more careful on who we give loans to, do more research about how and what they are spending the money on. So at least banks are not wasting money on those who will just be deeper in a hole then before. (more…)

2015 NPD Scholarship Entry: How could payday loans be modified to better help the people that need them ?

scholsmallBy: Desiree Pope

When you need a small amount of money in a short quantity of time, Payday loans are usually the first option that majority of people turn to. Payday loans are loans that give compact sums of cash at high interest rate that is repaid when the borrowers receives their next check. I believe that it is safe to say that majority of people can agree that, family and friends are not as reliable when it comes to giving you money for a short duration of time nor will your bank help you out as much. Banks have many delays and sometimes do not accommodate you, especially when you are asking for a tiny amount, when it requires them giving you money.   (more…)

2015 NPD Scholarship Entry: Lowering Interest Rates

scholsmallBy: Joseph Dews

Have you ever been in between paydays and needed a little extra money to get by until your money falls through? I’m sure you have, and I’m also sure you’ve tried many alternatives like pay day loans to make sure you’ll have enough money until that day arrives. Although the thought of a pay day loan seems horrible the average person receives about 1000 dollars in payday loans in one year, but only 25% of people actually pay their payday loans back(CNN). People get payday loans thinking everything will be okay, but many times they actually never really understand the actual rules and regulations that are imprinted on the contracts when getting a pay day loan. (more…)


scholsmallBy: Devyn Martin

Winters in Chicago are brutal, and I worked one block from Lake Michigan, which made the cold seem unbearable. This year father winter was upset with Chicago, so he punished us with a below seven windchill. The eight steps from my door to my car felt as if it took half an hour, because of the chilling whisk of the wind, but I made it. I turned over the ignition, and nothing happened. I panicked, because It is so cold outside. So, now the warfare begins.

I returned into the house, and added on more layers of clothes, because now I have to take public transportation. The extra clothes did not help the frost of my nose, fingers, and toes. I keep repeating in my mind “It is to cold for me to be riding the bus, I would give anything for my car to be fixed”. (more…)

2015 NPD Scholarship Entry: Payday — Make It Count

scholsmallBy: Ashley Arnold

Payday: the day of wonder. For some payday is a glorious day to look forward to every week or bi-weekly or even once a month because it marks the day that one’s hard work is rewarded. However, while some rejoice in their payday others sulk away with their money to the bank in order to pay off loans thus thrusting themselves (and even their family) right back into debt. A payday loan is a small amount of money lent at high interest rates with the understanding that it will be paid off at the time of the next payday/paycheck. For those receiving payday loans, the task of repayment becomes too great and they are unable to follow through on the loan agreement. Therefore, it is time to find a solution for the modification of payday loans in order to help those who receive them.  (more…)

2015 NPD Scholarship Entry: Payday Loans And How They Can Be Modified

scholsmallBy: Sanika Williams

         There’re several types of systems out there trying to accommodate the situation of some families/households just not being able to survive off of their monthly income. Due to that, some may rely on loans for buttress. From my understanding of how the “Payday loans” operate, I will say that it’s a very effective system that I’m sure has helped a great amount of individuals. Sometimes there’re situations where you need your money immediately, but unfortunately it doesn’t work that way, simply because it’s not your pay day. And then again not everyone has money put aside for “raining days”; emergency funds. Being a college student is quite expensive from what I’ve seen and heard and in my opinion, aside from the annual tuition and dorming, books are extremely costly as well. With that being said, a scenario of a college student needing to get a certain book by the following week of her professor announcing it, has left her with short notice. Her parents had already covered their bills, mortgage, car payments, her tuition, groceries and other necessities. Therefore, they don’t have the two hundred dollars to spear, to give to Samantha for her to purchase her book in time.  For that, they could turn to Payday Loans to handle the situation. It’s not that the Andrews family cannot afford to purchase her book at all; it’s the idea that it was last minute and their paychecks have been utilized to the fullest already. With Payday loan, Samantha will be able to purchase her book and be on the same page as her professor coming next week of class. (more…)

2015 NPD Scholarship Entry: Knowledge is modification

scholsmallBy: richard harrison

Pay day loans are intended to be short term , but have become prohibitively expensive and in some cases ruinous if not paid quickly. Americans are in a slump because of lower paying jobs and the cost of living is up. Americans need to be more educated on how to save money  or invest it. Payday loans are needed for a lot of people in the USA because of what the  recession has done to so many families. Many people are not realistic when it comes to money, they think only of what is needed now ,without putting thought into it. This is why I think that if we educate the people that are the borrowers both the borrower and the lender will benefit. (more…)

2015 NPD Scholarship Entry: To pay or not to pay, that is the question

scholsmallBy: Timani Taylor

Pay day loans are something that is easy and fast money when something comes up on short notice. I think pay day loans are great way to get money for emergencies. I think if they were less of a hassle for the long term. A lot of times if you can’t pay the loan off right away, then it ruins your credit to get future loans. I have had family member say that payday loans are terrible for the long term situations and that they still have trouble paying them back. I think if pay day loans were also geared to fit long term situations, it cut out a lot of hassle. But for short term situations they aren’t that bad at all. Pay day loans would be even better if they were made for just short term like paying a bill. From other experiences I’ve heard is that once you get one loan you will definitely get another down the line. It where if you give some one just an inch, they will take a mile. That mile can lead you to several dollars in debt with the interest piling up.   (more…)

2015 NPD Scholarship Entry: Quick fix for Payday Loans

scholsmallBy: DeLisha Shelvy

Payday Loans, also called Cash Advance Loans, are an easy way to get money in a short amount of time. They are popular among those who have a steady income but end up having unsuspected financial needs like medical fees or being short on paying rent. A person can simply search online and take out a loan on a website or go to many locations to receive one. Some lenders will even offer up to $5,000 by a certain time of day to draw in more crowds, and a person does not have to submit a credit check while placing a loan, which is an added bonus to the payday loans’ appeal. (more…)