Persepsi Risiko sebagai Mediator Literasi Keuangan Syariah dan Norma Subjektif terhadap Minat Pinjaman Online pada Mahasiswa

The development of financial technology (fintech) in Indonesia has driven a significant increase in the use of online lending services, including among university students. As a group in the transition phase toward financial independence, students often turn to online loans as a solution for urgent needs. However, the use of these services must be balanced with a financial understanding grounded in Sharia principles, consideration of the social environment, and awareness of the inherent risks. This study aims to analyze the influence of Sharia financial literacy and subjective norms on the interest in using online loans among students in the Sharia Economic Law, Islamic Economics, and Family Law programs at Hasyim Asy'ari University in Jombang, both directly and indirectly through risk perception as a mediating variable. This study employs a quantitative causal-associative approach using the Partial Least Squares-Structural Equation Modeling (PLS-SEM) method. Data collection was conducted by distributing questionnaires to 97 active students selected using purposive sampling based on the Slovin formula. The results of the study indicate that Islamic financial literacy and subjective norms have a positive and significant effect on interest in online loans, whereas risk perception has a negative and significant effect on interest in online loans. However, risk perception was not found to mediate the influence of Islamic financial literacy or subjective norms on interest in online loans among students at Hasyim Asy'ari University.