INFLUENCE OF SOCIAL MEDIA ADVERTISING MESSAGES ON ONLINE LOANS ASSESSMENT AMONG STUDENTS OF FEDERAL POLYTECHNIC OFFA
Abstract
Social media's explosive expansion has changed advertising strategies, especially when it comes to promoting online loans and other digital financial services. This study looked at how students at Federal Polytechnic Offa in Kwara State evaluated online loans in relation to social media advertisements. Additionally, the findings showed that students' evaluation and use of online lending services are significantly influenced by social media promotion. Despite these influences, the study identified notable barriers to online loan accessibility, including fear of fraud, high interest rates, data privacy concerns, and complex application procedures. The study concluded that while social media advertising effectively shapes awareness and perception, its impact on utilization is moderated by trust and risk-related factors. The study therefore recommends improved regulatory oversight, transparent advertising practices, and enhanced financial literacy programs for students.
Keywords: Social Media Advertising, Online Loans, Students, Financial Decision-Making, Federal Polytechnic Offa
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