Contests

Entry 036: Can a Payday Loan Really Work?

By: kadijah thompson

“Payday Loan!?” “Yea I’ll apply for one!”. That’s what the first person who is in desperate need of money will say. He or she won’t think twice about it either. But is that the right decision? Will it really work?  Are loans the best way to go? I think so but, to a certain extent. You have to know how to utilize your money, how to spend money and save for the future to potentially pay back the money from the loan. (more…)

Entry 035: Which is More Important: The Quick Fix or The Next Day?

By: Brandon Ward

In life, everybody has emergencies or “little bumps in the road”. The car breaks down or the AC unit goes out, both are essential to everyday living and need to be replaced immediately, but you don’t have the money until payday. What do you do? Go get a payday loan! Payday loans (cash advances some call it) are a great way to get money quick and fast! You always hear on the radio or TV, commercials for “fast cash”. Sure its fast, and it solves the immediate problem, but what the TV commercials don’t want you to know is what happens “The Next Day”. (more…)

Entry 032: The PayDay Loan

By: Phillip Eubanks

The mystery of the payday loan. Is it a good idea. Is it a bad idea? Do I even know what it is? These can just be some of the many questions a person might have when contemplating acquiring one of these loans. These questions are a valid worry for any possible recipient to take into consideration. So lets start with square one… What is a payday loan. (more…)

Entry 031: It’s Pay Day!

By: Kimmie Rodriguez

I am a student, here for the same reason everyone else is: we all want to go to school, but we need the funds to achieve it. And though there are countless websites out there offering scholarships, grants, loans to help us through it, many of us have learned from experience not to believe everything you read on the Internet. It’s equivalent to the “don’t take candy from a stranger” mentality we all grew up with, or at least heard once in our lifetimes. So you can imagine my frustration having to go from website to website warily, filling out applications and filing out survey’s for potential funding for my academic future. There are many appealing headlines that may or may not have caught attention of a few us. Anything that screams “money for school” would probably have many struggling students like myself racing to find out how to sign up. If we are one of the smarter ones, we will probably look past just the first appearance. Of course, we would want to know specifics of the loan: interest, the time it will take to repay, etc. It is definitely not an easy thing to come about. (more…)

Entry 029: PAYDAY LOANS

By: Zayre Gonzalez

I believe I, and I am sure many others, have received payday loans throughout their life. Not from a company but from family. We have grown up asking our siblings, “Hey, let me borrow some money, I’ll give it back to you when our parents give us our allowance,” or “Hey mom, can I have some money, I’ll do my chores for free for the next week!” And do we pay back? We do, at least most of the time. But is it because we want to or because we have to? (more…)

Entry 028: Payday Loans. Do they work?

By: Drew Vaughn

We all know what happens if you put a cat in front of a dog, but what happens if you give a teenager or young adult a payday loan?

In a lot of ways that cat and I share a lot of characteristics when faced with adversity. A lot of people know that a payday loan can work, but only if you have a way to make it work. In my opinion, if you give a payday loan to a 90 percent of the young adults in this country it will most definitely not work. My reason standing behind this statement is that the payday loan people will want their money back for sure, and 95 of the 90% I predicted will have no money in college and the interest that is on the loan will just keep making the price of the loan increase and increase and increase …. Ok I think you get the point. In this day and age money is the answer to just about 99.5 percent of everyone’s problems whether it comes to credit card debt, bank overdrafts, et cetera. At some point that loan will get so high that it will not be able to be paid off if it gets out of hand. Coming from personal conversations I have overheard and witnessed from people that live and have graduated from college in my area the main thing out of their mouth is “Man, loans are a pain in the rear” or “I am 35 and still paying off my loans for college.” Little kid whatever you do getting a loan is not the way to get through college.”  Those are the exact words of a few of the people that have told me about loans. (more…)

Entry 022: Payday Loans Work for Us!

By: Kyrstin Wampler

Ugh! Your water and electricity is about to be turned off. The bill is due today and you have no money. What are you going to do? Well, thanks to payday loans, there is hope! Payday loans can save us when we are in need! Looking at the way our economy is today, it is easy to see there are many people who come into a financial emergency. Almost everyone suffers with this, if you say no, consider yourself extremely lucky. Though, there is one savior out there that we can count on to work for us when we have these kinds of emergencies, this would be payday loans. These loans are easy to qualify for and they work! Though, you still need to be smart, just as you should with your own money. (more…)

Entry 018: Payday Loan Advantages

By: Augusta Schubert

Payday loans are a fast and easy way for people to get money in an emergency, without creating long-term debt. Emergencies happen to everyone, and sometimes a few hundred dollars  is all that is needed to resolve a crisis. When I was a child, my parents did not have a lot of money left  after paying bills. My siblings and I were home-schooled by my mother, so we lived on my father’s income alone. If our car broke down between paychecks my parents would get a loan to pay for repairs. Payday loans allowed my mother to remain at home, and helped my family to survive during some of our most difficult financial times. (more…)

Essay 011: Payday Loans

By: Hannah Hermann

Essay 011

Whatever happened to that kid who had a mother that always bailed him out of any trouble he got into? He grew up never knowing how to be accountable for the messes he got himself into.

The same thing goes for people who use payday loans. If people did not have the option of being bailed out of a bad situation every time they spent too much money, then they may be more fiscally responsible.

(more…)

Entry 010: Do Payday Loans Work?

National Payday 2013 Entry

By: Krista Coffell

There’s many different opinons about payday loans. Some people think they’re good ideas, but others think they’re awful. In my opinion, they aren’t a very good idea. Sometimes you may need to get a loan to pay off a bill, or to pay for something important, but once you use that money you’ll have to pay it back. Plus interest rate, which can add up very quickly!

(more…)