Thousands of prospective students around the UK are opting to earn money instead of spending it during their so-called gap year in an effort to avoid debt management problems when they go to university, new research has shown.
A study by NatWest recently found that the number of school levers who go travelling during their year between studies is falling as avoiding debt becomes more of a pressing concern.
Close to a quarter of young Britons who have recently left sixth-form are taking a gap year and an increasing proportion are aiming to secure their future finances by spending their time earning money, NatWest has revealed.
“Our research shows that students are becoming more aware of the financial realities of university,” said Mark Worthington, head of student banking at NatWest.
“In light of this, it is encouraging to see that school leavers are preparing for university with their eyes wide open and putting their gap years to such a good use.”
The UK’s payment association Apacs recently launched a consumer guide aimed at helping young Britons avoid unmanageable credit card debt.