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June 27, 2022

Is ‘learn now, pay later' another student debt trap?

  • Education and consumer advocates fear that “learn now, pay later” could have pitfalls for students.
    • By ANNA HELHOSKI
    NerdWallet

    The “buy now, pay later” transaction is simple: Shoppers are offered an installment loan at the point of purchase, spreading the cost of the product across several payments. They're often available without a credit check.

    Buy now, pay later financing has become a go-to payment method at most major retailers for everything from clothing and cosmetics to computers and patio furniture. Now, it's gaining traction for an even bigger expense: higher education.


     
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