Atherton, CA – February, 2025: Menlo College is proud to announce that Dr. Dima Leshchinskii, Professor of Finance, was recently featured as an expert contributor in a WalletHub article discussing the best (and worst) options for same-day loans and alternatives to payday lending.
With the allure of quick cash, same-day loans and no-credit-check options can be tempting, but Dr. Leshchinskii cautions consumers to proceed with extreme caution. In his insightful commentary, he advises, “Avoid it unless you have an established relationship with the lender! If someone is ready to give you money without checking who you are, either you will be charged exorbitant fees or, even worse, you will get yourself into a dangerous situation.”
The WalletHub piece delves into the often-hidden costs of payday loans, with Dr. Leshchinskii illustrating how seemingly small fees can translate into triple-digit APRs. He then offers practical alternatives, including employer cash advances, loans or lines of credit from banks or credit unions, and even careful use of credit card cash advances.
Dr. Leshchinskii emphasizes the importance of research and comparison, urging consumers to “explore all options available to you.” He recommends using online comparison tools and creating a detailed comparison table that includes interest rates, loan amounts, maturity dates, fees, and any fine print like prepayment penalties or other loan covenants. His advice empowers consumers to make informed financial decisions and avoid the pitfalls of predatory lending practices.
Read the full WalletHub article here: https://wallethub.com/best-no-credit-check-loans-same-day#expert=Dr._Dima_Leshchinskii
Press Contact: pr@menlo.edu
Menlo College is a small private, nonprofit college founded in 1927 with a mission to “ignite potential and educate students to make meaningful contributions in the innovation economy.” Situated in the heart of Silicon Valley, Menlo College offers undergraduate degrees in business and psychology, as well as two graduate degrees: a Master of Science in Information Systems, and a Master of Arts in Sport and Performance Psychology. Menlo is designated as both a Hispanic-Serving Institution (HSI) and an Asian American, Native American, and Pacific Islander-Serving (AANAPISI) Institution.
