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Loan charges: NUS wants payday loans banned on campus

The National Union of Students (NUS) has said it wants payday loan advertisements to be banned on campus.

After the University of Northampton, the University of Swansea and Northumbria University banned these adverts, the NUS is calling on others to follow suit.

Research from the NUS found that one in ten students were using payday loan services and Pete Mercer, vice president of welfare, said this was negatively affecting their wellbeing and education.

He added: "It is clear that at least some payday lenders are targeting vulnerable students and the government has so far failed to act, so it is important we do everything we can to limit their ability to reach our campuses."

At present, the Office for Fair Trading (OFT) has been investigating payday lenders about their practices and, so far, has given 50 companies a 12 week deadline for them to change these.

However, the OFT came under fire from the Public Accounts Committee for being too timid in its approach to these companies.

Amir Hussain

Amir specialises in personal loans, consumer debt and debt management.ADNFCR-2776-ID-801597109-ADNFCR

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