The topic of “Huabai, I cannot lend to college students” has been dominated by hot searches on Weibo all day.
At the moment when I accidentally swiped the hot search, Wu Yi, who was studying in the second grade school, seemed to be thunderous. He quickly opened Huabei and took a look. Then he realized that his Huabei quota had been greatly reduced more than a month ago: from 31300 yuan to the general basic quota of 3000 yuan.
“Shrink by a factor of 10! How can I reduce it? I didn’t even receive a message! Will it be reduced from 3000 yuan to 0 next?” As Huabei’s first-generation user, Wu Yi was disappointed, angry and uneasy. .
On March 17, the “Notice on Further Regulating the Supervision and Management of College Students’ Internet Consumer Loans” (hereinafter referred to as the “Notice”) issued on the official website of the China Banking and Insurance Regulatory Commission mentioned that small loan companies are not allowed to issue Internet consumer loans to college students. As one of the most influential Internet loan products, Huabei and Bibei are operated by small loan companies. According to the spirit of the notice, the small loan funds that Huabei borrowed need to be withdrawn.
This has also led to the controversy over whether Huabei and Boraibe will close the loan line for college students. Huang Dazhi, a researcher at the Suning Institute of Finance, explained that, judging from the specific provisions of the notice, the channels for credit products such as Huabei and Borrowe to serve university students have not been completely cut off. If the subject changes to a consumer finance company, it will comply with the “Notice”. In September 2020, Chongqing Ant Consumer Finance Co., Ltd. was approved to prepare for the establishment. If Huabei and Bibai are converted into consumer finance companies.
On the other hand, if Huabei and Bibei are simply acting as lenders to provide loan and diversion services to licensed financial institutions, the cooperative licensed institutions can still provide services to college students as the subject of credit for users.
Regarding the progress of the Ant Consumer Finance Company’s preparations and the adjustment arrangements that Huabei borrowed to provide loans to college students, the Ant Group has not yet responded.
In any case, for the young people at school who are accustomed to using flowers and borrowing, a large-scale mandatory derating has come, and their lives have changed drastically as a result.
“An old friend who has been with me for a long time betrayed me”
“Huabei is my financial management tool. My financial system has always been working well.” Wu Yi is concerned about the sudden drop of Huabei’s quota from 30,000 to 3,000, just like an old friend who has been with him for a long time. Suddenly betrayed himself.
He is the first generation user who grew up along with Huabei. In April 2015, not long after the two products of Huabeiborai went online, Wu Yi, who was still in his senior year, opened Huabei. After graduating from a bachelor’s degree, he was admitted to a university in Shanghai after two years of work, and Huabei’s quota has also been increasing.
He showed his repayment record to the interface news reporter. The original amount of more than 30,000 was enough to cover, and he has always repaid on time. “I just bought an iPhone 12 and a washing machine. They both use Huabei installments. This derating has a great impact on me.” Wu Yi said that Huabei should set the quota according to the consumption situation of each person and carry out hierarchical management. , And should not implement “one size fits all.”
On the afternoon of March 18, Wu Yi negotiated with Alipay’s manual customer service regarding the derating situation. During this process, the customer service repeatedly stated that “Huabe’s credit will be dynamically adjusted after a comprehensive system evaluation based on the repayment ability and willingness to repay.” As for Wu Yi’s repeated questions about the evaluation criteria and assessment details, the customer service never gave Measure indicators.
Wu Yi still did not give up the negotiations, and he still hopes to bring back the 30,000 quota. “If it doesn’t work, you will have to use your credit card. It’s inconvenient and you can’t help it.” He sighed deeply.
What substantive changes will happen to Huabei and Bibai’s policy on granting loans to college students?
On the afternoon of March 18, the interface news reporter communicated with the human customer service on the phone as a college student. When asked “Why the Huabei quota was adjusted from 30,000 to 3000 yuan”, the customer service replied: “Huabei is a comprehensive assessment, and the quota is dynamically adjusted. The specific evaluation criteria cannot be informed.”
Regarding the impact of the publication of Document No.17, the customer service informed: “For the closure of the Huabei quota for college students, we have not received relevant notices for the time being. Huabei is a financial service product that provides you with consumption first and repayment later. Can you use it? It is systematically evaluated by financial service institutions. Currently, some quotas can be used normally.”
“It would be nice if it was banned earlier”
Unlike Wu Yisuo, who has been in contact with credit cards, Chen Cheng, a college girl who “does not know what a credit card is”, has only limited her imagination to borrowing. When she was derated, she felt a sense of relief while she was lost.
In Chen Cheng’s view, she is like a puppy cultivated by Alipay, with high loyalty.
“I haven’t used a credit card. When I just went to college and needed extra consumption, Alipay appeared in due course. At that time, I might use a few hundred more. Later, the amount given to me by Huabei became higher and higher, and one month’s debt would be higher and higher. It was close to six to seven thousand. At this time, Alipay introduced a new rule, the minimum repayment amount is 10% of the total bill, so I spent the money to be more unscrupulous.” Chen Cheng said by himself.
“When I found out that the quota had dropped to 3,000, I was both angry and happy.” Chen Cheng said that on the one hand, he felt that Alipay had unilaterally tore up the agreement, and it was hard to raise the credit score and quota so high. On the other hand, I finally have no excuse to buy and buy indiscriminately in the future.
Chen Cheng also told Jiemian News that some of her classmates had borrowed 20,000 yuan. After repaying the loan on time, the quota was raised to 100,000 yuan.
“It’s kind of like a trap, as long as you taste the sweetness, the deeper you sink. These products will continue to test our bottom line.”
Zhang Chao, who is deeply involved in online lending, is a living case.
“I started watching the live broadcast three years ago. I spent 50,000 yuan in half a year, all of which were credit cards. After I swiped my credit card and saw Huabei, I could get tens of thousands of yuan in a few seconds. It’s out of control.” Zhang Chao said that he often demolished the east wall to repair the west wall. I borrowed and repaid the loan with the upper limit of 20 loans until the monthly interest reached 3,000 yuan. Now when I calculate the total debts, I owe more than 100,000 borrowers, more than 30,000 micro loans, and more than 20,000 Ant Huabai. All online loan platforms add up to 300,000.
He showed the various collection text messages he often received to the interface news reporter, and said reluctantly: “If Huabei and Bibai were banned sooner, it would be fine.”
The regular army’s willingness to “replace” is not strong
“All banking financial institutions can develop targeted and differentiated Internet consumer credit products under the premise of controllable risks.” The “Notice” prohibits small loan companies and non-licensed institutions from providing credit services to college students. The reasonable credit needs of college students “open the door.”
So, will banks, consumer finance companies and other institutions “make up for” after small loan companies exit the market and Huabei borrowing has implemented derating adjustments?
Jiemian News reporters learned from many consumers in the consumer finance industry that most companies are currently generally unwilling to develop Internet consumer loans for college students.
First, due to the pressure of public opinion, fear that “campus loans” will affect the company’s reputation; second, because the “Notice” stipulates that a second source of repayment (parents, guardians or other administrators, etc.) capable of repayment is required for granting loans to college students. ) Written guarantee materials expressing their consent to their loan behavior and willingness to repay on their behalf, strictly controlling the credit qualifications of college students.
An executive of a consumer finance company in the Northwest region said frankly: “Although we can do this business compliantly, we will not enter this field for the time being. The reason is that the loan to college students needs to go through the process of parental consent and is not suitable for the Internet model. .”
Another senior executive of a consumer finance company in North China said that they will not consider launching Internet consumer loans for college students for the time being, mainly worried about the pressure of public opinion.
Jiemian News reporters learned from the banking industry that some banks currently offer credit cards for college students, such as China Construction Bank, China Merchants Bank, Industrial Bank, Industrial and Commercial Bank, and China Guangfa Bank, all of which target college students who are over 18 years old. Credit card business.
Take the CCB Longka JOY Credit Card as an example. According to the bank’s official website, “According to regulatory requirements, after a customer applies online, our bank will first issue a student credit card with a “seal limit” (except for the application guided by our bank’s marketing staff on site). 2. After the repayment source person goes to any branch of our bank to sign the “China Construction Bank University Student Credit Card Second Repayment Source Statement and Quota Adjustment Application Form”, the credit card quota can be released.”
Jiemian News reporters consulted the customer service phone numbers of multiple banks. All banks indicated that they need students and their second source of repayment (parents, guardians, or other administrators, etc.) who are capable of repayment and bring their ID cards to the bank branch for consultation.
However, a practitioner working at a major bank told the interface news reporter that most banks still do not carry out credit card business for student groups, because the student group does not have a stable source of independent income, and it is easy to form overdue and bad debts. Previously, the bank where he worked had launched campus loans for students at school. Later, due to poor promotion of the business and many overdues, the business was finally cancelled.