Tackling vulnerability to debt. Affordable lending alternatives and financial education: An evidence review
Tackling vulnerability to debt. Affordable lending alternatives and financial education: An evidence review
The pathways to vulnerability to debt and what works to reduce such vulnerability are poorly understood. To address this knowledge gap, we conducted an evidence review. Many low-income borrowers have little alternative but to resort to high interest lending. Developing 'affordable' lending alternatives has been a challenge. Policy-makers have advocated person-centred approaches (for example, financial education) despite little evidence supporting the efficacy of such behavioural measures. Arguably this has shifted the burden of social responsibility and risk for managing problem debt primarily onto borrowers. While better regulation of the credit industry is needed, ultimately policymakers need to look beyond market-based solutions.
Affordable lending, Financial education, Payday loans, Problem debt
315-333
Mosedale, Sarah
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Simpson, Glenn
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Popay, Jennie
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McGill, Rory
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Cooper, Paula
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Taylor, Catherine
aecf57c6-5602-44a6-a201-3f4c87a87e77
Fisher, Kate
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Sant, Helen
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1 October 2018
Mosedale, Sarah
27042df8-b6d6-4b52-929f-065b7bbc33ed
Simpson, Glenn
802b50d9-aa00-4cca-9eaf-238385f8481c
Popay, Jennie
28d316be-1e7f-4c4d-9a2b-34b08f09f965
McGill, Rory
b6add738-f0ea-4b96-8848-91bac6ad2db7
Cooper, Paula
00d1da6d-110b-4762-a35a-a3b73c382fa4
Taylor, Catherine
aecf57c6-5602-44a6-a201-3f4c87a87e77
Fisher, Kate
6347a752-f81b-4447-b533-21955b19cde8
Sant, Helen
7b201b43-df02-4174-a537-469531307985
Mosedale, Sarah, Simpson, Glenn, Popay, Jennie, McGill, Rory, Cooper, Paula, Taylor, Catherine, Fisher, Kate and Sant, Helen
(2018)
Tackling vulnerability to debt. Affordable lending alternatives and financial education: An evidence review.
Journal of Poverty and Social Justice, 26 (3), .
(doi:10.1332/175982718X15299593316586).
Abstract
The pathways to vulnerability to debt and what works to reduce such vulnerability are poorly understood. To address this knowledge gap, we conducted an evidence review. Many low-income borrowers have little alternative but to resort to high interest lending. Developing 'affordable' lending alternatives has been a challenge. Policy-makers have advocated person-centred approaches (for example, financial education) despite little evidence supporting the efficacy of such behavioural measures. Arguably this has shifted the burden of social responsibility and risk for managing problem debt primarily onto borrowers. While better regulation of the credit industry is needed, ultimately policymakers need to look beyond market-based solutions.
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Published date: 1 October 2018
Keywords:
Affordable lending, Financial education, Payday loans, Problem debt
Identifiers
Local EPrints ID: 444798
URI: http://eprints.soton.ac.uk/id/eprint/444798
ISSN: 1759-8273
PURE UUID: fe6b38b7-9902-43c2-9155-a36473d9da16
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Date deposited: 05 Nov 2020 17:30
Last modified: 17 Mar 2024 04:02
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Contributors
Author:
Sarah Mosedale
Author:
Jennie Popay
Author:
Rory McGill
Author:
Paula Cooper
Author:
Catherine Taylor
Author:
Kate Fisher
Author:
Helen Sant
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