Payday Loans - NE Students Using Them.

New figures have revealed North East students are the highest users of payday loans across the country.

Research by Unite found almost 4000 students across the region rely on money lending companies, more than double the national average.

Over the past year, 12% more students feel they can't cover the cost of living while at uni.

Will Paterson, from Stockton, took out a payday loan while he was studying at Sunderland University.

He said

"Because I was young, I didn't really see it as that much of a problem.

I thought well I'm just going to be paying it back when I get my loan anyway, so I didn't really phase me.

Then I realised that the interest was going to be nearly as much as the loan was itself."

Manon Goetschel, Welfar Officer at Teesside University offers her advice to students who may considering taking out a loan.

She said

"We don't advertise money-lending companies.

Try and either look at what you can get entitled from university or see how we could help out.

Sometimes it's just managing your own money."