Legal analysis: Only the applicant is an adult can apply for online loan, and it is legal that the interest does not exceed 24%. College students are generally 18 years old and have civil capacity, and online lending companies can lend money.

Legal basis: Article 67 1 of the Civil Code of People's Republic of China (PRC). If the lender fails to provide the loan according to the agreed date and amount, thus causing losses to the borrower, it shall compensate for the losses. If the borrower fails to collect the loan according to the agreed date and amount, it shall pay interest according to the agreed date and amount.