The information which currently appears on the Wonga website suggests that students should supplement smaller amounts of cheaper Government borrowing with short-term loans from Wonga, including for things like holidays.
Pete Mercer, NUS Vice-President (Welfare), said:
“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.
“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 marketing, which contains information that appears to be inaccurate, and is aimed at financially vulnerable young people.”