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University of East London bans payday loan companies


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The loans, sometimes taken by student-parents to feed their children, lead to “desperate measures” as people get caught in a vicious cycle of debt, it is said.

 

As a result companies which offer short term, unsecured loans at high interest rates have been banned from advertising anywhere on the University of East London campus, including in magazines, on posters, or online.

 

UEL made the move as more students were turning to the firms to tide themselves over between grants and loans.

 

http://www.telegraph.co.uk/finance/personalfinance/borrowing/loans/9898361/University-bans-payday-loan-companies.html

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