20,000 Chinese students in debt over pursuit for Apple devices!
Beijing: Over 20,000 college students have taken high-interest loans to buy fancy electronic products, mostly Apple devices, in central China's Wuhan city.From the start of January 2012 to the end of February 2013, the students
In spite of this, some stores have refused such cooperation. "I (saw) the loan rate and refused such unscrupulous usury," said a store head who did not wish to be named.
The loans have encouraged young students to get Apple devices.
"Apple products are a common topic or a particular community in campus. I used to feel isolated while they were discussing and playing with iPhones or iPads," said a student of Wuhan University of Science and Technology surnamed Yu.
About half of her classmates and roommates have an iPhone. "I felt embarrassed even to take a look when they were in a heated discussion about a new application," Yu said.
She bought an iPhone with credit loan "in the heat of the moment during a marketing campaign by a salesman of HC China, but felt regret afterward". The girl finally paid the credit with the help of her parents.
Wang Yong, studying at the China University of Geosciences, failed to pay back the loan in March due to overspending at the beginning of the spring semester. At that point, he started to work part-time in KFC.