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New Study Examines Trends In Refund Loan Usage

Posted by: Abhijeet Chavan
Thanks to: Katy Hight
13 April 2005 - 2:00pm

Refund loan usage declined by almost 5 percent nationally between 2001 and 2002, but the loans remain popular, especially in the South.

This report from the Brookings Institution analyzes IRS data from tax years 1999 through 2002. It notes that the sharpest declines in refund anticipation loans (RALs) were in the Midwest, while the South remains the largest purchaser of such loans. It also notes that the cause of the changes might be associated with the availability of volunteer low-income tax preparation.

Full Story: Step in the Right Direction: Recent Declines in Refund Loan Usage Among Low-Income Taxpayers
Source: The Brookings Institution, April 12, 2005
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These practices are also inequitable since they force non-drivers to subsidize parking costs, reduce travel options for non-drivers, and reduce housing affordability.
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