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Students make debt management top priority

Students make debt management top priority

- Thursday, 25 February 2010

More students are committing to debt management and making saving their top financial priority, according to new research.

A National Skills Academy for Financial Services (NSAFS) poll reveals that over one quarter (28 per cent) of students want to learn more about savings.

Almost 30 per cent cited university fees as the financial issue they are most concerned about.

NSAFS chief executive Sylvia Perrins said young people are "much more switched on to their money issues than people think", adding that they want to know more about how to fund themselves through education and formative adult years.

"It's very encouraging that students want to save for their future, and continue their studies," she said.

"The challenge lies in how young people will plan and create a pool of funds to help them finance their immediate and long term futures, and assist their continuing education at university."

The findings may allay parents' fears, with recent research by Nationwide and the Personal Finance Education Group revealing 69 per cent of British adults worry about their children getting into debt later in life.ADNFCR-2300-ID-19636036-ADNFCR
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