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Students 'should be educated about money' to help them avoid debt problems

Students 'should be educated about money' to help them avoid debt problems

- Thursday, 17 March 2011

Students should be given tips on how to manage and make money, as this may help them avoid needing debt solutions in the future.

According to Andrew Hagger, spokesperson for moneynet.co.uk, which is a financial comparison site, there should be more resources for students struggling with their money.

He said: "I guess that perhaps there needs to be a little bit more education from the universities themselves.

"This could be for perhaps just half an hour or so when people first join; just to explain to them a little bit about managing their money and making it last, giving them an idea of the costs they're likely to incur."

In this way, young people could learn how to avoid borrowing money or going overdrawn, which can incur charges and possibly lead to debt problems.

A recent study by the Student Loans Company, which was released on March 16th, female students are better at making money with 24 per cent selling items on eBay or at boot sales, compared to 18 per cent of male students.
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