Wonga in bother over student loan campaign

12 January 2012

Bitterwallet - Wonga.com Short-term loan donkeys Wonga are in hot water with right-thinking types after targeting students for their eye-watering loans (typical APR 4,214%).

A page on the Wonga website that pushed a short-term loan as a good thing for students on a tight budget has been branded as ‘incredibly irresponsible’ and here at Bitterwallet we are proposing that the owner of Wonga should be attacked by a savage owl or something.

"It is highly irresponsible of any company to suggest to students that high-cost short-term loans be a part of their everyday financial planning," said Pete Mercer, NUS vice-president.

"Students should think long and hard before choosing payday loans over any other form of borrowing, including government-backed student loans. If students are struggling to make ends meet there is often other support available, and anyone worried about their finances should talk to their students' union or financial advisers at their university.

"Wonga should immediately withdraw this predatory [offer], which contains information that appears to be inaccurate, and is aimed at financially vulnerable young people."

We note that Mercer stopped short of advocating a savage owl attack but we’re pretty sure that he was thinking about it. Obvious really isn’t it?

TOPICS:   Loans


  • Dick
    If some students are too fucking thick to understand the Wonga website, and how much they have to pay back for borrowing short term money (it is incredibly clear on their calculator), then they should not be at university. What would the NUS actually prefer? Would they like Wonga to discriminate against students and not allow them to use their service? Even adult students that have regular part time jobs and need some extra cash before their next pay day? No doubt if they did refuse loans to students, then the NUS would be complaining of discrimination.
  • James
    I've read thousands of comments on interweb forums over the years, seen countless arguments, seen opinions ranging from valid, to misinformed to outright ridiculous, but this one paragraph from 'Dick' is possibly the most cutting, the most accurate and possibly the most important comment you'll ever read on these pages.... "If some students are too fucking thick to understand the Wonga website, and how much they have to pay back for borrowing short term money (it is incredibly clear on their calculator), then they should not be at university." Take a bow, son.
  • Mike H.
    Hang about there James, I haven't commented yet. Unfortunately, students ARE too fucking thick and don't realise they have not been accepted on their intellectual merit. WONGA!
  • John s.
    If Wonga want to charge 10,000% APR then that's upto them , their website is clear as to how much you need to repay. agree with Dick and James comments
  • athickiestudenttype
    ^^ Fun with dick and james
  • Donga
    Attention, students. Forget high interest rates, come and felate me for cash and have nothing to pay back. (Own dry cleaning bills must be covered however). Sign up to me at donga.com
  • br04dyz
    The clues in the name "PAY DAY LOAN" - students don't get those for YEARS!
  • Shhhhh
    Don't say anything negative about Wonga, their over zealous social media team will strike down upon thee with great vengeance and furious anger, they're worse than Apple fan boys.
  • LanceVance
    I'd pay them. If they let me slow roast the fat twat in the advert!!
  • Dick
    @James, thank you. Can I now have my £100 prize? If you don't have enough to pay me, I'd recommend wonga.com.
  • Dick
    @James PS: If I'm your son, then you are an old git.
  • Paddy
    Whilst I would never borrow money from Wonga or any other legalised loan shark, the very fact that it has the NUS up in arms must be a good thing. The lentil and tofu eating screaming left wing twats. Oh and @Dick, well said!
  • Lemax
    @Paddy Lentil and tofu? Left-wing? You're thinking of The Young Ones, circa 1981.
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