Student Finance

Within the space of 24 hours, legal loan shark Wonga was forced to withdraw its marketing information aimed at students following online complaints. The Helena Kennedy Foundation spoke out after our attention was drawn to their self-serving attempts to promote their short term, high interest loans as an alternative to the Student Loans Company. We were swiftly joined by the National Union of Students, consumer finance groups and an outraged Twitterati, with NUS accusing Wonga of “predatory marketing”. But this episode should raise alarm bells for university leaders, who seem to be living on another planet when it comes to the harsh reality facing students in the current economic climate.