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What we know about payday loans in Kansas.

Payday loans charge too much interest and are a debt trap.

Four in ten Americans have no savings to help them weather a financial emergency. For Kansas residents facing a financial emergency, having bad or no credit history can leave them with limited options and they often turn to pay day loan institutions, getting trapped into paying up to 391% interest. The nature of the payday loan product is misleading and predatory.

  • 175,000 Kansans a year use payday loans.

  • The average borrower signs up for a two-week loan but remains in debt for half the year.

  • Payday loan reform will save hard-working Kansans tens of millions of dollars each year.

Who are payday loan borrowers?

The millions of Kansans who have borrowed from a payday lender include families who are rural, urban, single parents, veterans, and others. All Kansas residents are impacted because more than $100 million is going to mostly out-of-state lenders, while that money could be reinvested in Kansas.

  • One out of 10 Kansas adults has taken out a payday loan.

  • Borrowers are mainstream consumers. It is required to have a checking account and income to get a loan.

  • Seven in ten borrowers report using the loans to cover basic household expenses.



"Does America have a savings crisis?" Accessed March 28, 2019.

“Payday Lending Abuses and Predatory Practices” Center for Responsible Lending. Accessed March 28, 2017.


“Payday and Car Title Lenders Drain $8 Billion in Fees Every Year” Center for Responsible Lending. Accessed February 15, 2017.

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