Student newspaper exposes loan sharks
Pluto, the Union’s newspaper, lifts the lid on Toothfairy Finance
The first issue of Pluto, the Union’s student newspaper, has exposed the extortionate charges being put on students who are short of cash.
Toothfairy Finance, accoding to the frontpage story, have been charging a rate of 9,000 per cent to students to borrow £300.
The Union’s Advice Centre has worked with the team on the student newspaper to make sure that students who are short of cash come to the Advice Centre where they can be pointed to a free grant and loan service offered by the University.
One of the Union’s advisors, Gareth Pye, says in the article: “The University offers the same service as Toothfairy for free. If any student has not received their loan or grant come to the Advice Centre and we’ll sort it for you.”
The Union is concerned some students could end up in further debt by taking up the offer from Toothfairy, especially with the current delays to student loan payments.
The first issue of the academic year includes all the latest news from across campus and other news impacting students, as well as a look ahead to the year’s student sport.
Plus it comes with PR1, a free lifestyle supplement with music, films, fashion and witty observations.
Union Media officer, John Crossley, said: "When I heard about Toothfairy Finance I knew we had to get the message out there to students, what they are doing is disgusting. The fact that they are marketing themselves in private halls makes things even worse. Any student who hasn’t received their loan yet should use the services within the Students’ Union and the University Finance department.
"As a whole I’m really pleased with the first issue, the last week has been a bit crazy trying to get it all finished but we made it in the end! I think the strength of the issue is a credit to my team of volunteers who all worked so hard, and it’s given us a great start for the year ahead."
Download issue 204 of Pluto
Download issue 47 of PR1
18 September 2009
