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How to Borrow $200 Responsibly

Quick $200 loans can help you out of a financial jam, but they can be costly.

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Updated June 17, 2025 Advertising disclosure
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Edited by John Howard
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Written by Rachel Alulis
Editorial note: Here at MoneyFor, our goal is to help you make informed financial decisions. We are committed to accuracy and impartiality in all our content. It’s important to note that articles may reference products from our partners who compensate us. This influences which products we feature and their presentation on our site, not our evaluation.

Key takeaways

  • You can apply for a $200 loan and receive funds after approval by choosing a loan type that fits your credit and income situation. Consider earned wage access apps, short-term loan due on your next paydays, or pawnshop loans.
  • Comparing lenders, checking for fees, and check eligibility without affecting your scoreing can help you find the most affordable and legitimate option.
  • Even small loans can be expensive if not repaid on time. Always review the terms carefully and explore alternatives before borrowing.

If you need a $200 loan now, this article is for you. Unexpected expenses can hit at any time. Maybe you have a medical bill or . Sometimes, you need a little help to get by until your next paycheck. That is where small-dollar loans come in.

Below, we’ll go over the different types of $200 loans available and what you should consider before you apply.

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How to borrow 200 dollars instantly in 5 steps

It’s stressful when you’re running low on cash and need funds. Whether it’s to cover groceries or medical bills, you often don’t have time to wait. Many big banks offer personal loans, but they take up to a week for approval and often have credit score requirements of 670 or more.

Luckily, some lenders offer loans with application reviewed promptly, so you can get money fast, even with poor credit. Here’s how to go about it.

Step 1 – Decide how much you need

First, determine how much you need to borrow. Only borrow what you need. It’s tempting to take out a larger amount, but avoid doing this. The more you borrow, the more interest you need to pay. Smaller loans are also easier to be approved for than larger ones.

Step 2 – Choose a loan type that fits your situation

Decide what type of loan you want. The right loan depends on several factors, including your financial needs, creditworthiness, and loan purposes.

Traditional lenders have minimum credit score requirements for personal loans. Your score helps them assess how likely you are to repay the money. If your score is low, look for alternative lenders that do not place much emphasis on your rating. Or find lenders that do not conduct a hard inquiry.

Classic flexible credit evaluation options include , credit card temporary balance boosts, and pawnshop loans. let you borrow small amounts simply by linking your checking account. Buy now, pay later services are another modern type of loan that does not consider your credit.

Step 3 – Research and compare lenders

Research lenders beforehand to ensure they are legitimate. Look at their ratings and reviews on platforms like the Better Business Bureau to see how they handle complaints. Make sure they are licensed to operate in your state. Compare their fee structures and interest rates to find an affordable option.

If you’re interested in , try to check eligibility without affecting your score. Most lenders offer prequalification tools that let you see your chances and compare potential rates without impacting your credit.

Prequalify with multiple lenders, then take a look at your offers. Compare the repayment terms, interest rates, fees, and amounts. Apply for the best offer.

Step 4 – Collect required documents

The exact documents you need will depend on the lender and loan type. Common ones are:

  • A government-issued photo ID (driver’s license or passport)
  • Income verification (pay stub, W-2, set up direct deposit)
  • Social Security number
  • Bank account details
  • Proof of residency (utility bill, lease agreement, etc.)

Pawnshops will require the item you’re pawning.

Step 5 – Submit your application and receive $200

Submit a formal loan application with accurate information. Most lenders let you apply online. The whole process should only take a few minutes.

When you receive an offer, carefully read the fine print. Review the interest rate, fees, and repayment schedule. Only sign if you agree to the terms.

Most lenders disperse funds quickly and directly into your bank account. It can take as little as a few minutes to three business days.

6 options for a $200 loan today

Below are six lending options that give you small amounts of cash fast without a credit check.

Get a $200 temporary balance boost

Temporary balance boosts or allow you to borrow a small amount of money until your next paycheck. These apps offer loan amounts ranging from $20 all the way up to $750. They are often interest-free, have lower fees than short-term loan due on your next paydays, and have more lenient eligibility criteria than loans from banks. Potential fees include a monthly subscription fee, a flat fee, an optional tip, and a additional fee for expedited funding.

Take out a credit card temporary balance boost

A credit card temporary balance boost is when you use your card at an ATM or bank to withdraw cash. You get the money instantly, but it comes at a cost. Your credit card issuer will charge a fee, there will likely be an ATM fee, and you’ll be subject to a higher interest rate. Additionally, interest starts accruing immediately. While convenient, it’s only recommended if you can pay the money back quickly.

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Apply for short-term loan due on your next paydays

A short-term loan due on your next payday provides funds upon loan approval in a single lump sum, but at a cost. These are that are typically due on your next payday. The amounts tend to be small, under $500, and they often have very high fees exceeding a 400% APR (annual percentage rate), which can make them a very expensive way to borrow money.

Get a pawn shop loan

You can pawn an item of value to get a loan based on the item’s assessed worth. If you don’t repay as agreed, the pawn shop can sell your item. can be a less expensive option, but you could lose your belongings if you don’t repay the money on time.

Use buy now, pay later apps

Buy now, pay later apps (BNPL) are a different type of instant loan. They allow you to purchase items immediately and pay for them over time in installments. These apps offer interest-free periods and flexible repayment options, which makes them a convenient way to make purchases when you lack the cash. Be mindful of late fees and repayment terms to avoid additional costs.

Borrow from loved ones

When you , consider borrowing from friends or family. Borrowing $200 from relatives can be a fast and interest-free option. If you decide to go this route, it’s a good idea to draw up a loan agreement. Set a clear repayment plan and discuss what will happen if you can’t repay on time. Putting everything in writing can help maintain trust and avoid potential conflicts.

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What to consider before borrowing $200

Here are some important factors to consider when you need to borrow $200 dollars:

Costs: Lenders charge fees and interest on loans. These charges protect the lender if you default, but can significantly inflate the repayment amount. Consider the total loan costs compared to the $200 benefit.

Reputation and reviews: Research the lender’s online reputation and customer reviews. Look for lenders with a history of fair lending practices and good customer service.

Eligibility requirements: Ensure you meet the lender’s basic requirements, such as age, monthly income, and residency in their operating state.

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Repayment terms: Often, $200-dollar loans must be repaid in full in as little as two weeks. Consider whether you can realistically repay the entire amount plus fees on time to avoid getting stuck in a cycle of debt.

Alternatives: Explore other options to cover emergency expenses. Alternatives include negotiating payment plans with creditors, , or selling used items.

Impact on credit score: Even if the lender you chose does not report payments to the credit bureaus, they may report if you default on the loan. A missed payment on your credit report will hurt your score.

Debt trap: A short-term loan can become a debt trap if you’re unable to repay on time and have to re-borrow or roll it over. Consider the long-term consequences before borrowing.

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Frequently asked questions

1. How can I get $200 instantly without a job?

To get $200 instantly without a job, consider selling items you no longer need, taking out a pawnshop loan, or borrowing from friends and family. Some earned wage access apps will lend you money without a traditional job.

2. What temporary balance boost app lets you borrow $200?

Most apps let you borrow $200, including EarnIn, Current, and . The exact amount you’re allowed to borrow depends on your income and other criteria. You may only be able to secure $20 or $50 initially. The amount you can advance typically increases as you repay the loans on time.

3. Where can I get $200 dollars fast?

You can get a fast loan from paycheck advance apps, online lenders, or payday lenders offering . Pawnshop loans, payroll advances, and credit card temporary balance boosts are other options for instant loans. Always check the total cost – fees, and interest rates – before proceeding to be sure that you can repay the money as agreed.

4. What are same-day funding options?

Same-day funding options include earned wage access apps, short-term loan due on your next paydays, pawnshop loans, and from online lenders. These services offer quick application processes and rapid disbursement of funds, often within hours. Alternatively, you can look into buy now, pay later apps or borrow from friends and family.

5. How can I get $200 right now?

Explore options like borrowing from family or friends, using earned wage access apps, selling unwanted items, or donating plasma. You can also consider pawnshop loans or credit card temporary balance boosts, though these may come with fees or high interest rates.

6. Can you get a $200 dollar loan with a low score?

If you need $200 now but have less than ideal credit, consider . These include short-term loan due on your next paydays, pawnshop loans, or borrowing from friends and family. While some choices may have high fees, they can offer quick cash without a credit check.

Bottom line

A $200 instant loan can be helpful when you have bills to pay and no cash to cover them. The problem is that these loans often come with high costs and short repayment periods, which can worsen your financial situation. Carefully consider all your options and the potential consequences before borrowing money. Explore alternatives, shop around for the best rates, and borrow responsibly to avoid getting trapped in a cycle of debt.

1. Paycheck Advance is For eligible customers only. Your actual available Paycheck Advance amount will be displayed to you in the mobile app and may change from time to time. Conditions and eligibility may vary and are subject to change at any time, at the sole discretion of Finco Advance LLC, which offers this optional feature. Finco Advance LLC is a financial technology company, not a bank. Expedited disbursement of your Paycheck Advance is an optional feature that is subject to an Instant Access Fee and may not be available to all users. Expedited disbursements may take up to an hour. For more information, please refer to Paycheck Advance Terms and Conditions.
2. Paycheck Advance is an earned wage access service and is not a loan or credit product.
3. Current is a financial technology company, not an FDIC-insured bank. FDIC insurance up to $250,000 only covers the failure of an FDIC-insured bank. Certain conditions must be satisfied for pass-through deposit insurance coverage to apply. Banking services provided by Choice Financial Group, Member FDIC, and/or Cross River Bank, Member FDIC. The Current Visa® Debit Card, which may be issued by Choice Financial Group and/or Cross River Bank, and the Current Visa® secured charge card, which is issued by Cross River Bank, are all issued pursuant to licenses from Visa U.S.A. Inc. and may be used everywhere Visa debit or credit cards are accepted. A Current debit account is required to apply for the Current Visa® secured charge card. Independent approval required.
4. Faster access to funds is based on comparison of traditional banking policies and deposit of paper checks from employers and government agencies versus deposits made electronically. Direct deposit and earlier availability of funds is subject to timing of payer’s submission of deposits.
5. Debit card: Fees may apply, including out of network cash withdrawal fees, third-party fees, cash load fees, inactivity fees, account closure fees, international transaction fees, replacement card fees, express mail fees and escheatment fees.                                                                                                                                                       Build Card: Some fees may apply, including out of network ATM fees of $2.50 per transaction, late payment fees of 3% of any total due balance outstanding and past due for two or more billing cycles, foreign transaction fees of 3% of the full transaction amount (minimum $0.50), card replacement fees per card of $5 for regular delivery and $30 for expedited delivery, cash deposit fees of $3.50 per deposit, and third party processing fees.
6. The Current Visa® Debit Card is issued by Choice Financial Group pursuant to a license from Visa U.S.A. Inc. and may be used everywhere Visa debit cards are accepted. The Current Visa® secured charge card is issued by Cross River Bank pursuant to a license from Visa U.S.A. Inc. and may be used everywhere Visa credit cards are accepted. Please see the back of your Card for its issuing bank. Current Individual Account required to apply for the Current Visa® secured charge card. Independent approval required.
7. Individual results may vary. Using your credit card responsibly may allow you to improve your credit score. Credit building depends on various factors, including your payment history, credit utilization, length of credit history, and other financial activities.
8. Faster access to funds is based on comparison of traditional banking policies and deposit of paper checks from employers and government agencies versus deposits made electronically. Direct deposit and earlier availability of funds is subject to timing of payer’s submission of deposits.
9. Funds held in Savings Pods are FDIC-insured on a pass-through basis up to $250,000 at our partner bank Choice Financial Group, member FDIC.
10. Actual overdraft amount may vary and is subject to change at any time, at Current’s sole discretion. In order to qualify and enroll in the Fee-Free Overdraft feature, you must receive $500 or more in Eligible Direct Deposits into your Current Account over the preceding 35-day period and fulfill other requirements subject to Current’s discretion. Negative balances must be repaid within 60 days of the first Eligible Transaction that caused the negative balance. For more information, please refer to Fee-free Overdraft Terms and Conditions. Individual Current Accounts only.
11. For eligible customers only. You may earn Points in connection with your Build Card purchases at retailers whose merchant code is classified as: Dining (e.g., restaurants) and Groceries (e.g., supermarkets) and by completing other actions that Current designates as subject to the Current Points Program. The amount of Points granted for different actions as well as the purchase requirements necessary to earn Points will vary, and is subject to Current’s sole discretion. After qualifying, please allow 3-5 business days for points to post to your Current account. Points will expire 365 days after they settle. For more information (including specific eligibility criteria), please refer to the Current Points Terms and Condition.
12. Some fees may apply, including out of network ATM fees of $2.50 per transaction, late payment fees of 3% of any total due balance outstanding and past due for two or more billing cycles, foreign transaction fees of 3% of the full transaction amount (minimum $0.50), card replacement fees per card of $5 for regular delivery and $30 for expedited delivery, cash deposit fees of $3.50 per deposit, and third party processing fees.
13. Boost Bonuses are credited to your Savings Pods within 48 hours of enabling the Boost feature and on a daily basis thereafter, provided that the Savings Pod has accrued a Boost Bonus of at least $0.01. No minimum balance required. The Boost rate on Savings Pods is variable and may change at any time. The disclosed rate is effective as of August 1, 2023. Must have $0.01 in Savings Pods to earn a Boost rate of either 0.25% or 4.00% annually on the portion of balances up to $2000 per Savings Pod, up to $6000 total. The remaining balance earns 0.00%. To earn a Boost rate of 4.00%, the sum of your Eligible Payroll Deposits over a rolling 35-day period must be $500 or more, with at least one Eligible Payroll Deposit equalling a minimum of $200. For more information, please refer to Current Boost Terms and Conditions.
14. Your money is FDIC-insured on a pass-through basis up to $250,000 at each of our partner banks, Choice Financial Group and Cross River Bank, members FDIC.
15. Average value based on Fine Hotels + Resorts bookings in 2023 for stays of two nights. Benefits include daily breakfast for two, room upgrade upon arrival when available, $100 amenity, guaranteed 4PM late checkout, and noon check-in when available. Certain room categories not eligible for upgrade. $100 amenity varies by property. Actual value will vary based on property, room rate, upgrade availability, and use of benefits.
16. Up to $500 per Covered Trip that is delayed for more than 6 hours; and 2 claims per Eligible Card per 12 consecutive month period. Eligibility and Benefit level varies by Card. Terms, Conditions, and Limitations Apply. Please visit americanexpress.com/benefitsguide for more details. Underwritten by New Hampshire Insurance Company, an AIG Company.
17. The maximum benefit amount for Trip Cancellation and Interruption Insurance is $10,000 per Covered Trip and $20,000 per Eligible Card per 12 consecutive month period. Eligibility and Benefit level varies by Card. Terms, Conditions, and Limitations Apply. Please visit americanexpress.com/benefitsguide for more details. Underwritten by New Hampshire Insurance Company, an AIG Company.
18. Baggage Insurance Plan coverage can be in effect for Covered Persons for eligible lost, damaged, or stolen Baggage during their travel on a Common Carrier Vehicle (e.g. plane, train, ship, or bus) when the Entire Fare for a ticket for the trip (one- way or round-trip) is charged to an Eligible Card. Coverage can be provided for up to $2,000 for checked Baggage and up to a combined maximum of $3,000 for checked and carry-on baggage, in excess of coverage provided by the Common Carrier. The coverage is also subject to a $3,000 aggregate limit per Covered Trip. For New York State residents, there is a $2,000 per bag/suitcase limit for each Covered Person with a $10,000 aggregate maximum for all Covered Persons per Covered Trip. Eligibility and Benefit level varies by Card. Terms, Conditions, and Limitations Apply. Please visit americanexpress.com/benefitsguide for more details. Underwritten by AMEX Assurance Company.
19. Car Rental Loss and Damage Insurance can provide coverage up to $75,000 for theft of or damage to most rental vehicles when you use your eligible Card to reserve and pay for the entire eligible vehicle rental and decline the collision damage waiver or similar option offered by the Commercial Car Rental Company. This product provides secondary coverage and does not include liability coverage. Not all vehicle types or rentals are covered. Geographic restrictions apply. Eligibility and Benefit level varies by Card. Terms, Conditions, and Limitations Apply. Please visit americanexpress.com/benefitsguide for more details. Underwritten by AMEX Assurance Company. Car Rental Loss or Damage Coverage is offered through American Express Travel Related Services Company, Inc.
20. Coverage for a Stolen or damaged Eligible Cellular Wireless Telephone is subject to the terms, conditions, exclusions, and limits of liability of this benefit. The maximum liability is $800, per claim, per Eligible Card Account. Each claim is subject to a $50 deductible. Coverage is limited to two (2) claims per Eligible Card Account per 12 month period. Eligibility and Benefit level varies by Card. Terms, Conditions, and Limitations Apply. Please visit americanexpress.com/benefitsguide for more details. Underwritten by New Hampshire Insurance Company, an AIG Company.
21. When an American Express® Card Member charges a Covered Purchase to an Eligible Card, Extended Warranty§ can provide up to one extra year added to the Original Manufacturer’s Warranty. Applies to warranties of five (5) years or less. Coverage is up to the actual amount charged to your Card for the item up to a maximum of $10,000; not to exceed $50,000 per Card Member account per calendar year. Eligibility and Benefit level varies by Card. Terms, Conditions, and Limitations Apply. Please visit americanexpress.com/benefitsguide for more details. Underwritten by AMEX Assurance Company.
22. Purchase Protection is an embedded benefit of your Card Membership and requires no enrollment. It can help protect Covered Purchases made on your Eligible Card when they’re accidentally damaged, stolen, or lost, for up to 90 days from the Covered Purchase date. The coverage is limited to up to $10,000 per occurrence, up to $50,000 per Card Member account per calendar year. Coverage Limits Apply. Eligibility and Benefit level varies by Card. Terms, Conditions, and Limitations Apply. Please visit americanexpress.com/benefitsguide for more details. Underwritten by AMEX Assurance Company.
23. Chime is a financial technology company, not a bank. Banking services provided by The Bancorp Bank, N.A. or Stride Bank, N.A., Members FDIC.
24. The secured Chime Visa® Credit Card is issued by The Bancorp Bank, N.A. or Stride Bank, N.A. pursuant to a license from Visa U.S.A. Inc. and may be used everywhere Visa credit cards are accepted. Please see the back of your Card for its issuing bank.
25. Banking services and debit card provided by The Bancorp Bank N.A. or Stride Bank, N.A., Members FDIC, pursuant to a license from Visa U.S.A. Inc. and may be used everywhere Visa debit cards are accepted.
26. The Annual Percentage Yield (“APY”) for the Chime Savings Account is variable and may change at any time. The disclosed APY is effective as of September 15, 2025. No minimum balance required. Must have $0.01 in savings to earn interest.
27. There’s no fee for the Chime Savings Account. Cash withdrawal and Third-party fees may apply to Chime Checking Accounts. You must have a Chime Checking Account to open a Chime Savings Account.
28. To apply for a Chime Card, Chime® Checking Account is required to apply.
29. Out-of-network ATM withdrawal and over the counter advance fees may apply.
30. With a qualifying direct deposit, earn 1.5% cash back on eligible secured Chime Visa® Credit Card purchases.
31. Money added to Chime CardTM will be held in a secured account as collateral for your Chime Card, and you can spend up to this amount. You can use money deposited in your Secured Deposit Account to pay off your charges at the end of every month.
32. Based on a representative study conducted by Experian® in January 2024 members who made their first purchase with Credit Builder, an earlier version of Chime Card, between June 2022 and October 2022 observed an average FICO® Score 8 increase of 30 points after approximately 8 months. A credit score improvement is not guaranteed. On-time payment history can have a positive impact on your credit score. Late payment may negatively impact your credit score. Activity on other credit accounts may also impact your score.
33. On-time payment history may have a positive impact on your credit score. Late payment may negatively impact your credit score. Chime will report your activities to Transunion®, Experian®, and Equifax®. Impact on your credit may vary, as Credit scores are independently determined by credit bureaus based on a number of factors including the financial decisions you make with other financial services organizations. Results may vary.
34. Early access to direct deposit funds depends on the timing of the submission of the payment file from the payer. We generally make these funds available on the day the payment file is received, which may be up to 2 days earlier than the scheduled payment date.
35. SpotMe® on Debit is an optional, no fee overdraft service attached to your Chime Checking Account. To qualify for the SpotMe on Debit service, you must receive $200 or more in qualifying direct deposits to your Chime Checking Account each month and have activated your Visa debit card. Qualifying members will be allowed to overdraw their Chime Checking Account for up to $20 on debit card purchases and cash withdrawals initially but may later be eligible for a higher limit of up to $200 or more based on Chime Account history, direct deposit frequency and amount, spending activity and other risk-based factors. The SpotMe on Debit limit will be displayed within the Chime mobile app and is subject to change at any time, at Chime’s sole discretion. Although Chime does not charge any overdraft fees for SpotMe on Debit, there may be out-of-network or third-party fees associated with ATM transactions. SpotMe on Debit will not cover any non-debit card transactions, including ACH transfers, Pay Anyone transfers, or Chime Checkbook transactions. SpotMe on Debit Terms and Conditions.
36. Tipping or not tipping has no impact on your eligibility for SpotMe®.
37. Out-of-network ATM withdrawal fees may apply except at MoneyPass ATMs in a 7-Eleven, or any Allpoint or Visa Plus Alliance ATM.
38. Save When I Get Paid automatically transfers 10% of your direct deposits of $500 or more from your Checking Account into your savings account.
39. Round Ups automatically round up debit card purchases to the nearest dollar and transfer the round up from your Chime Checking Account to your savings account.
40. Mobile Check Deposit eligibility is determined by Chime in its sole discretion and may be granted based on various factors including, but not limited to, a member’s direct deposit enrollment status.
41. Funds are automatically debited from your Checking Account and typically deposited into the recipient’s Checking Account within seconds. Pay Anyone transactions will be monitored and may be held, delayed or blocked if the transfer could result in fraud or another form of financial harm. Sometimes instant transfers can be delayed.
42. Pay Anyone transactions will be monitored and may be held, delayed or blocked if the transfer could result in fraud or another form of financial harm. Sometimes instant transfers can be delayed. Non-Chime members must use a valid debit card to claim funds.
43. MyPay is only offered in select states
44. To be eligible for MyPay, you must receive qualifying direct deposits to your Chime Checking Account as set forth in the MyPay Agreement. A qualifying direct deposit is a deposit from an employer, payroll provider, gig economy payer, government benefits payer, or other permitted source of income by Automated Clearing House (“ACH”) or Original Credit Transaction (“OCT”). Your MyPay Credit Limit and Maximum Available Advance may change at any time. MyPay is a line of credit and available limits are based on estimated income and risk-based criteria. Eligible members may be offered a $20 – $500 Credit Limit per pay period. Your Credit Limit and Maximum Available Advance will be displayed to you within the Chime app. MyPay is currently only available to eligible Chime members in certain states. Other restrictions may apply.
45. Once the retailer accepts your cash, the funds will be transferred to your Chime account. Cash deposit fees may apply if using a retailer other than Walgreens and Duane Reade.
46. Not affiliated with Empower Annuity Insurance Company of America (www.empower.com).                              Not everyone will qualify. Offers range from $10-$300 for first-time customers; $10-$400 for all others. Offers are based on our eligibility requirements and can go up with on-time payments. In Feb 2025, the average offer was $95 for first-time customers; $187 for all others. Instant delivery is optional—see fees in Empower’s Terms.                              Empower offers a 14-day trial for first-time customers followed by an auto-recurring $8/month subscription fee. Cancel anytime.
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About the author

Author Rachel Alulis Rachel Alulis

Rachel Alulis has been the lead editor for Moneyfor's credit cards team since 2015 and for the financial rewards team since 2023. Before joining Moneyfor, Rachel worked at USA Today and the Des Moines Register. She then established a successful freelance writing and editing business specializing in personal finance. Rachel holds a bachelor's degree in journalism and an MBA.

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