1, which is much higher than the interest of the principal. The annualized loan interest rate of most products on the online lending platform is above 15%, so the so-called "low interest rate" is not credible. The monthly interest rate of 0.99% is a marketing trick, and students are easily cheated.
2. Bring troubles to classmates and family around you. Some loans are very convenient, just need an ID card, and some students use their ID cards to handle loans for others because of personnel relations and other reasons. This behavior is risky, because once the other party is unable to repay, the remaining debt will be borne by the "respondent" alone.
3. Once overdue, the dunning is "all-round". In some cases, once the student loan is not repaid, the online lending platform will not recover the money through proper channels. Instead, they will use threats such as sending text messages to parents, relatives and teachers, posting posters on campus, and even arranging people to stop them, urging students to pay their debts.
It is easy to breed the bad habit of borrowing. Some students like to compare with others and have bad habits. The expenses provided by parents can't meet their needs. These students may turn to usury on campus to obtain funds, which may lead to gambling, alcoholism and other bad habits, and even skip classes and drop out of school because they are unable to repay.
5. It is easy to induce other crimes. Lenders may use campus "usury" to defraud students of collateral and deposits, or use student information to engage in telephone fraud and defraud credit cards.
Extended data:
There are three main reasons for the potential growth of illegal campus loans:
First, lending institutions use lower thresholds to trick students into being fooled;
Second, college students lack financial knowledge;
The third is vanity.
In this regard, college students need to improve their self-management ability while learning financial common sense. In the face of the tight economic situation, whether to make ends meet requires learning self-management, self-control and self-restraint. Good self-management ability is an indispensable factor in the process of growth; If you are not good at self-management, you will eventually lose yourself.
People's Daily People's Comment: Don't let campus loans become "campus harm"