Students Pay Lecture Money Using Loans, OJK: Give A Way Out

Head of the Department of Literacy, Financial Inclusion and Communication of the Financial Services Authority (OJK) Aman Santosa. (Between)

JAKARTA - The Financial Services Authority (OJK) has asked for an explanation from the fintech peer to peer (P2P) lending platform PT Inclusive Finance Group (Danacita) regarding information circulating in the public about the use of Danacita services for the payment of Single Lecture Money (UKT) at the Bandung Institute of Technology (ITB).

Previously, many netizens in X also questioned the use of Danacita services for UKT payments on ITB. "We, overall ITB academic community, said "DURING THE PAY FOR CREATIONS AND THEIR SAVINGS", wrote the @itbmenfess account.

Head of the Literacy Department, Financial and Communication Inclusion OJK Aman Santosa said that the OJK had summoned Danacita on January 26, 2024, to ask for an explanation of the problem.

It is known that Danacita is the Organizer of Information Technology-Based Joint Funding Services (LPBBTI) which has obtained a (legal) permit from the OJK on August 2, 2021 and has the main business of providing education financing services.

According to his statement, Danacita has collaborated with ITB in the context of providing Single Lecture Money (UKT) funding facilities for ITB students.

Aman explained that the cooperation was carried out in order to provide a choice of solution for students who had difficulty making UKT payments.

"A new loan is given if there is a proposal from the student concerned and has gone through a feasibility analysis process by Danacita," he said in his official statement, quoted on Sunday, January 28.

Based on OJK research, the economic benefits (interest rates) imposed by Danacita are in accordance with SEOJK Number 19/SEOJK.06/2023.

Aman said that Danacita also said that Danacita's collaboration with ITB in the form of student financing facilities was not the first time, but this had also been done with other universities.

Sebagai tindak lanjut, OJK telah meminta Danacita untuk tetap memperhatikan aspek kehati-hatitan dan transparansi dalam penyaluran pembiayaannya dan lebih meningkatkan edukasi kepada mahasiswa mengenai hak dan kewajiban konsumen, termasuk aspek risiko dan seluruh aspek pelindungan konsumen lainnya. Secara periodik OJK akan memantau pelaksanaan hal-hal tersebut.