Swansea University is one of four colleges and universities to commit to banning payday lender advertising as the National Union of Students (NUS) launch a nationwide campaign against the lenders.
The following is a joint response from the University and the Students’ Union Welfare Officer
“ We are becoming increasingly concerned about payday loans lenders targeting students. These lenders or legal loan sharks as they’ve been dubbed lend money over short periods of time at extremely high interest rates, often via the internet.
In the last few years, with the recession biting more and more lenders have come on the market targeting certain members of society and in particular some of the most vulnerable student groups. We know that some of these lenders make misleading or inaccurate claims about other support available, which is hugely irresponsible.
There are several different options available to those who are suffering from financial hardship and Swansea University has Money Advisers in its Money Advice and Support Office (MASO) who are able to give free, confidential and impartial information and advice on a range of money matters. Students can visit them during one of their drop-in sessions or contact them by phone (01792 606699) or email: firstname.lastname@example.org . We are also liaising with Citizens Advice Cymru to report any cases that come to MASO’s attention.
With the availability of hardship funds and financial advice on campus along with a ban on advertising from payday loan lenders we intend to continue to make Swansea University a shark-free zone. “
Raymond Ciborowski, Registrar
Charlotte Britton, Students’ Union Welfare Officer
- Wednesday 12 June 2013 12.40 BST
- Friday 7 June 2013 18.21 BST
- Swansea University, Tel: 01792 295050