Students, beware of loan sharks on campus

Campus loan generally refers to a loan given to a college student on the campus, but it is in essence a private loan. Internet lenders, most of whom are loan sharks, offer such loans to students who need the money to meet their college and other expenses. The demand for such loans is high because it is relatively easy to apply for and receive. But these loans come with high interest rates and often with collateral security, which has included naked photographs of female students.

Not being mature enough to read the dangers attached to such loans, many a student has fallen prey to the loan sharks.

Some internet lenders even promote so-called job-hunting loan, training loan or startup loan using false and fraudulent promotion campaigns, and reducing the threshold for applying for and concealing the true nature of such usurious loans to entrap students. These internet lenders almost always resort to violence if the students fail to pay the high interest rates or the principal amount, or post, or threaten to post, the defaulting female borrowers' naked photos online.