Research suggests that payday loans help low-income families.

Name: Research suggests that payday loans help low-income families.
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While payday loans may provide temporary relief for low-income families, research shows that they often trap borrowers in cycles of debt and can lead to financial instability in the long term. The high interest rates and fees associated with payday loans can make it difficult for borrowers to repay them, leading to repeated borrowing and increased debt.

Research Suggests That Payday Loans Help Low-Income Families