Students to receive financial training

A new initiative has been launched by a monetary education charity in an attempt to teach students about money management – which could go some way in preventing them from incurring large debts while in higher education.

During September, The National Skills Academy for Financial Services (NSAFS) will be visiting pupils starting university and college to encourage them to make a Money Pledge – committing them to looking after their funds more appropriately.

NSAFS’s chief executive Sylvia Perrins remarked that the economic crisis has emphasised the importance of people being more financially aware.

“Colleges have an important role in shaping the future. Providing their students with an opportunity to become more financially astute is fundamental to our individual and national prospects,” she said.

A recent study by Halifax revealed that one in seven students are concerned about parents not being able to afford to give them money while they are at university.

By Sarah Adie