ANALISIS YURIDIS WANPRESTASI PINJAMAN ONLINE OLEH MAHASISWA

Abstract

The rise in online loans (pinjol) among students has been fueled by advances in financial technology (fintech) and economic instability. Students with limited financial resources, low financial literacy, and a consumptive lifestyle tend to choose pinjol due to its easy and quick access, despite the high risk. This research uses an empirical normative legal approach by analyzing the provisions on default in the Civil Code and related regulations, such as the ITE Law and OJK regulations, supported by field data from 25 student respondents in Jayapura. The results show that many students experience default due to poor financial planning and emotional stress, resulting in them being trapped in compensation obligations, being blacklisted, and becoming victims of intimidation by debt collectors who violate ethics and the Personal Data Protection Law. Legal protection for students as debtors remains weak, necessitating regulatory strengthening, increased financial literacy, and access to legal aid, such as from the Legal Aid Institute (LBH), as well as reporting to the OJK or the Investment Alert Task Force, to prevent the social impact of pinjol from becoming more widespread.