Personal Loans 101 Revisited!

/, News/Personal Loans 101 Revisited!

Personal Loans 101 Revisited!

Our colleagues at the American Financial Services Association Education Foundation (AFSAEF) are responsible for a number of valuable and impressive programs relating to consumer finance and Traditional Installment Loans. These programs are aimed at consumers of all ages and are intended to drive understanding of personal finance concepts, responsible money management and the credit process.

Personal Loans 101 is an AFSAEF program intended to give borrowers the information they need to make sensible financial decisions around small dollar loans. The program consists of a number of attractive and easy-to-understand brochures outlining key concepts. Some of the brochures were designed to convert to posters to be displayed in Traditional Installment Lender offices.

The core brochures build up to a complete picture of the environment for traditional installment loans and provide worksheets, a glossary and other practical assistance to help potential borrowers make sound financial decisions.

Understanding Your Credit Risk (English   |   Spanish)
This brochure stresses the importance of understanding the risk to the borrower in different loan products and details several factors borrowers should consider when assessing the risk of a particular type of loan.

Understanding Personal Loans (English   |   Spanish)
This brochure help potential borrowers understand the terms of financing and issues to consider before entering into a personal loan. It contains a Monthly Spending Plan worksheet and a checklist for comparing lenders and loans.

Understanding Small Dollar Loans (English  |   Spanish)
Understanding Small Dollar Loans compares and contrasts installment loans with payday, pawn, and car title loans. A chart summarizes the differences between these different products.

Understanding APR (English   |   Spanish)
This brochure is intended to demystify the Annual Percentage Rate (APR) and explain how it can be helpfully used by borrowers.

More on the program and additional resources, including budget planners, can be found HERE.

AFSEAF is an affiliate of the American Financial Services Association (AFSA), and was established in February 1990 as a non-profit organization to heighten consumers’ awareness of personal financial responsibility.

2021-06-14T18:42:18+00:00 October 9th, 2020|Categories: Financially Underserved, News|Tags: , , , , , , |Comments Off on Personal Loans 101 Revisited!