Faculty News
In a Q&A, Professor Constantine Yannelis explains the differences between a line of credit and a personal loan
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Excerpt from PrimeRates -- "If people need to borrow for a specific project, such as a home renovation, or if they have self-control problems, then it can make sense to take out a personal loan. A pre-specified amount helps people to avoid over-borrowing and making impulsive purchases. On the other hand, if people have indeterminate borrowing needs or surprised expenses, opening a line of credit can make sense."
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