Research Into The Motivation And Influencing Factors Behind College Students Participating In The Campus Loan

During the past two years,campus loan has attracted widespread public attention and raised great social repercussions due to various vicious incidents happened in this field.The academic community also conducted a lot of research into this issue.Many domestic scholars analyzed possible solutions to the problem from the perspective of legal regulation and regulatory framework.In the first half of 2017,the China Banking Regulatory Commission,the Ministry of Education and the Ministry of Human Resources and Social Affairs jointly issued a document to ban the campus loan business.The document required that all online lending platforms should stop lending to college students at current stage.It's a temporary solution to the problems caused by campus loan.Past experience has a guidance for the future.Although the campus loan incident has come to an end,the lessons learned from it cannot be easily forgotten.It is necessary for us to think about what caused college students,the outstanding group of young people in the contemporary society,to borrow from the online lending platforms and get into trouble.In this paper,we try to study the motivations and influencing factors behind college students' online borrowing behavior.This paper analyzes a representative real-life campus loan case,depicting a whole picture of the event.We make a deep study into the case from several aspects including the motivation of the student when he first chose to borrow from the online platform,the psychological activities of the student when he borrowed repeatedly,how the heavy debt burden influenced his daily life and the roles that his family members played in helping him get out of the trouble.The significance of case analysis is that it can warn and provide experience for latecomers.We learn from the case and remember the lessons to avoid repeating the mistakes.According to various news reports and literature reference,we can find that the behaviors of college students when they choose to borrow from online platforms have both similarities and distinctions.Combining related theories of behavioral finance,this paper attempts to study whether the characteristics of college students themselves,such as gender,grade,specialty,college level and family income will influence their participation in the campus loan.We conduct a questionnaire survey of college students in Nanjing to collect raw data and then establish an econometric model for empirical analysis.The empirical results show that male students have higher participation in campus loans compared to female students.Boys are more likely to use consumer credit products based on traditional e-commerce platforms and staged shopping platforms or borrow from P2 P online loan platforms.Students in higher grades are more likely to use consumer credit products launched by traditional e-commerce platforms,but the grade level does not have a significant effect on their choice of borrowing from staged shopping platforms or P2 P online loan platforms.Students majoring in law or economics and finance are more likely to use consumer credit products launched by traditional e-commerce platforms,and less likely to borrow from staged shopping platforms or P2 P online loan platforms,but this effect is not significant.Students at lower-level colleges are more likely to borrow from a staged shopping platform or a P2 P online loan platform,but the level of college has no significant impact on the use of consumer credit products launched on traditional e-commerce platforms.Students with higher annual family income levels are more likely to use consumer credit products,but family income level has no significant effect on the choice of borrowing from staged shopping platforms or P2 P online loan platforms.