R3, the Association of Business Recovery Professionals, has stated that it will give support to schools offering ifs School of Finance qualifications by discussing the “perils of debt”.
Tony Supperstone, R3 president commented: “Personal debt in the UK is increasing at enormous levels, by starting with children we can help educate them on managing their finances for the future.
“By allying ourselves with the ifs School of Finance, we are actively trying to encourage more education for young people today on the dangers of personal debt.”
Announcement of the support comes as the government announces plans to introduce personal finance education into schools to improve Britons’ debt management.
Mr Supperstone said that he too wants to see students leave school with debt management skills, especially as many take on student loans without knowledge of budgeting.
Topics to be discussed to improve financial education will include talks on debt, loans, credit cards and budgeting, R3 said, along with using real-life case studies.