In order to prove whether campus loan is a disguised usury, we must first understand the characteristics of usury: high interest rate.
The interest rate of usury is generally above 36% per year, and the loan 100 yuan will pay interest above 36 yuan every year. Individual interest rates can reach 100%-200%. In the history of our country, the annual interest of usury generally reaches 100%, and it is "rolling interest", that is, the loan of 100 yuan will be returned to 200 yuan one year later. If it cannot be returned at maturity, it will be returned to 400 yuan in the second year and 800 yuan in the third year.
The reason why usury has such a high interest rate is determined by the economic conditions at that time. Because pre-capitalism is a self-sufficient natural economy with low labor productivity and small production scale, small producers generally can't bear the impact of accidents (such as natural and man-made disasters), and once they encounter accidents, they can't maintain their original simple reproduction and livelihood. In this case, small producers (farmers and other small handicraftsmen) have to borrow money or things from usurers to maintain their production and life. It is precisely because usurers see that borrowers are trying to survive that they relentlessly raise interest rates. If the borrower borrows money not for living and survival, but for investment and profit, just like under the capitalist mode of production, then the interest rate of the loan is high, which makes most or all of the investment profit be embezzled by the interest of the usurer, then the borrower will not borrow, and the interest rate of the loan will naturally not be high.
In addition to small producers, usurers also have some ruined slave owners and feudal owners. They are trying to maintain a luxurious life, and their interest will eventually be passed on to small producers. The creditors of usury are mainly businessmen, especially Qian Shang, slave owners and landlords.
Exploitation is heavy.
The interest of usury comes from the surplus labor and some necessary labor of slaves and small producers. The interest paid by small producers by usury is paid directly by their surplus labor or necessary labor products. The interest paid by slave owners and feudal owners through usury is also the surplus labor or necessary labor product of slaves and small producers. Because slave owners and feudal owners did not work, the interest they paid was, in the final analysis, oppression and exploitation of slaves and small producers. Because the source of usury interest includes not only all surplus labor created by laborers, but also some necessary labor. Compared with capitalist interest whose interest is only a part of surplus value, it is more exploitation.
Unproductive unproductive
As mentioned above, usury borrowers, whether rulers or small producers, mainly use usury for unproductive expenses. Rulers borrow usury mainly to maintain their luxurious life, while small producers borrow usury for basic living needs. This is obviously different from the use of capitalist loan capital and socialist credit funds.
To sum up, after comparison, we find that there is no difference between campus online loan and usury. If we have to say the difference, it may be that campus online loans are more deceptive. At present, online loans on campus are chaotic. Not only is the audit system lax, but there is also the risk of revealing privacy. Moreover, the interest rate is as high as 30%, and many students are deceived. Ordinary college students' recognition of the authenticity of information is relatively low, and they are easily deceived by the false propaganda of some bad peer-to-peer lending platforms, thus inducing excessive consumption and falling into usury. Students generally have no income, but there is a demand for consumption. After leaving the campus with a credit card for seven years, campus online loans entered the campus like a fierce beast, subtly changing students' consumption concepts. Once a student falls into the clutches of campus online lending, the nightmare begins ... The tragedy of a college student in Henan who borrows money through the campus online lending platform and commits suicide by jumping off a building after shouldering huge debts should not be repeated. Therefore, the campus online loan industry urgently needs to introduce relevant laws and regulations to rectify it. A constrained and mature campus online loan platform can make students' dreams come true, not students' nightmares, and also make campus online loans develop in a healthy direction.