Americans who turn to pay day loans in order to get through the month are not just from one socio-economic group.

The Long Beach Press-Telegram reports that there are a high percentage of middle-income-earning Californians who seek this form of short-term loan.

Citing a study from Georgetown University's Credit Research Center, the publication claims half of short-term borrowers in the state earn $25,000 to $50,000 per annum.

Furthermore, 25 percent of these people who opt for pay day loans earn more than $50,000 each year.

Apparently, citizens who choose this product to help boost their finances are aware of any extra interest charges they will be required to pay.

The California Reinvestment Coalition has provided another study on the subject, which is also highlighted by the publication. This research claims that there are two million households in California who choose pay day loans and 99 percent are repeat customers.

A study by the same organization last October found that many of the largest lenders in the state were not helping borrowers struggling to pay their mortgages avoid foreclosure.

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