Unveiling The Impact of Illegal Online Loans on Cashless Lifestyles And Digital Marketing: A Case Study of Students At Bengkalis State Polytechnic's Language Department

Abstract

This study explores the repercussions of illegal online loans on cashless lifestyles and digital marketing among
students at the Language Department of Bengkalis State Polytechnic. The primary objective is to analyze how these
unregulated financial activities influence students' financial behaviors and their interaction with digital marketing.
Employing a mixed-methods research design, the study integrates quantitative surveys and qualitative interviews to capture
a broad spectrum of impacts. The quantitative component involved administering structured questionnaires to 10 students,
selected through stratified random sampling to ensure diverse representation across academic levels and disciplines. The
qualitative aspect comprised semi-structured interviews with 10 students who had direct or indirect experiences with illegal
loans, providing deeper insight into the personal and psychological effects of their financial decisions. The findings reveal
a significant trend towards increased use of cashless payment methods among students entangled with illegal loans,
primarily due to the ease of transaction it offers for loan disbursement and repayment. Moreover, there was a noticeable
uptick in students' exposure to aggressive digital marketing campaigns, which often exploit their financial vulnerabilities.
Despite these conveniences, the study also uncovered substantial adverse effects, including heightened financial stress and
concerns over data privacy, with over 60% of respondents reporting increased anxiety and intrusive advertising. The
research underscores the dual-edged nature of illegal online loans in shaping financial and digital engagement, highlighting
the need for comprehensive regulatory frameworks and consumer education to protect vulnerable populations in the digital
age