Knowledge Tree
Relations (1)
related 2.81 — strongly supporting 5 facts
Public benefits are identified as a policy mechanism to reduce the demand for unsecured debt and high-cost loans, thereby improving health outcomes as described in [1], [2], and [3]. Furthermore, [4], [5], and [6] highlight that providing public benefits is a key strategy for managing unsecured debt and mitigating the financial pressure that leads individuals to seek such loans.
Facts (5)
Sources
The Impacts of Individual and Household Debt on Health and Well ... apha.org 5 facts
referenceStrategies to address unsecured debt are based on three rationales: reducing unsecured debt improves health; reducing the need for unsecured loans (e.g., through public benefits) improves health; and increasing income reduces the pressure to take out loans and is associated with better health.
perspectivePublic policy options to address high-cost loan demand include reducing the demand for high-cost loans, increasing the availability of safe low-interest loans with reasonable repayment terms, and providing public benefits to lower the demand for unsecured debt.
claimStrategies to address unsecured debt are grounded in three rationales: reducing unsecured debt leads to improved health; reducing the need for unsecured loans (e.g., through public benefits) improves health outcomes; and increasing income reduces the pressure to take out loans, which is associated with better health.
perspectivePublic policy experts suggest that reducing the demand for high-cost loans, providing safe low-interest loans, and increasing public benefits are more effective strategies for managing unsecured debt than legalizing payday lending.
referenceStrategies to address unsecured debt are based on three rationales: reducing unsecured debt leads to improved health; reducing the need for unsecured loans (e.g., through public benefits) improves health outcomes; and increasing income reduces the pressure to take out loans, which is associated with better health.