Refund Anticipation Loan Quiz

4. Over half of refund anticipation loan borrowers in the U.S. were Earned Income Tax Credit recipients in 2007.

b. INCORRECT

True. In 2007, over half of all refund anticipation loan (RAL) borrowers were Earned Income Tax Credit (EITC) recipients. In fact, two out of every three EITC recipients got a RAL in 2007.