At the end of April 2017, "Consumer Finance Development and Innovation Seminar" was held in Beijing. At the meeting, the National Finance and Development Laboratory released "China's Consumer Finance Innovation Report" (hereinafter referred to as "Report"), pointing out that the current size of China's consumer finance market is estimated to be close to 6 trillion yuan, if the 20% growth rate is predicted, the scale of China's consumer credit will exceed 12 trillion yuan by 2020. But in the field of campus loans, legal compliance companies are few and far between. In contrast, the diversified student consumer credit system in the United States has been relatively mature, which is worth our reference.
Nearly 70 percent of American college students take out student loans to complete their education
In the United States, the federal government, private lending institutions and online loan platforms have jointly built a mature and diversified student consumer credit system. This system is an important mechanism to support and promote the continuous expansion and steady service of student loans. Moreover, this system domain is connected with students' personal credit system, which has become an important consumer finance guarantee for college students.
According to the report, student loans, auto loans and credit card loans are the top three types of consumer credit in the United States. Generally speaking, Americans have a strong sense of spending ahead of time, so the usage and proportion of credit card loans are relatively high. However, since the 2008 financial crisis, credit card loans have been on a downward trend, and their share of consumer credit has plummeted from 37.6 percent in 2008 to 26.5 percent in 2016.
On the contrary, student credit and auto credit have exploded. Student credit, in particular, rose from $25.3 billion in 2003 to $123.2 billion in 2015, an increase of 386.96 percent. As of 2016, the proportion of student credit in the United States has risen to 37.3%, becoming the largest category of consumer credit in the United States.
According to the data, nearly 70% of US college students completed their studies with loan support in 2015, reaching a staggering 68%. In addition to student loans, American college students have a variety of ways to pay for their study and life necessities on an installment basis.
China's student loans cover only 6.7 percent
According to the China Higher Education Quality Report, the number of college students in China exceeded 37 million in 2015, and the State Development Bank lent 16 billion yuan (only 6,700 yuan per person) to 2.5 million poor students in the same year, covering only 6.7 percent of the population.
Different from the United States, Chinese commercial banks are not very enthusiastic to participate in student loans and consumer credit. Because of this, the construction of college students' credit system has been missing for a long time. But seen from the growing market, college students' demand for consumer credit is increasing. In the past few years, consumer credit for college students has grown out of nothing, and consumer credit institutions have developed rapidly, with as many as hundreds of enterprises involved in just a few years.
And behind this, is the lack of self-control ability of college students and campus loan institutions "do whatever they want". "Naked lending" and "usury" have become indelible labels of campus lending, and the campus lending industry is in urgent need of a strong attack from the supervision department.
Supervision will be in place and students will have to be right
"Society has criticized our banks for not providing adequate credit services to college students. They turn to online or social loan sharks when they cannot find local loans." Commenting on campus loans recently, Guo Shuqing, chairman of the China Banking Regulatory Commission, said the regulator was studying how to make banks better provide loan services to college students and "open the front door".
It is not long before commercial banks "open the front door", and the adjustment of students' mentality needs to be strengthened. First of all, the sense of self-protection, in the encounter of problems should consider their own interests, do in advance to protect, do not let the danger. In addition, is the sense of integrity, if students can borrow money from classmates and repay on time, I believe there will be many students willing to borrow.
College students should have the concept of making money while consuming. It is a good choice to use spare time to earn money or put spare money into the cloud pocket for management. Near cloud money bag also launched the surrounding tour activities, we usually save money into the cloud money bag, during the holiday can get a good income to play, is also a good choice.
