Students union calls for campus ban on payday loans advertising

The National Union of Students (NUS) has called on universities to ban advertising for payday lenders on campus, following research that suggests some of the short-term, high interest loan companies are targeting vulnerable students.

Four universities have now banned advertisements for payday loans on their sites: University of Northampton, Northumbria University, Swansea University and University of East London.

A survey by the NUS suggested that one in ten students in vulnerable groups had had access to credit with high interest rates and charges, such as payday loans, doorstep lending and cheque-cashers.

However a spokesman for the short-term credit industry said that responsible lenders required borrowers to be in employment and have some disposable income, so would not be appropriate for students.

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