Students Given Debt Management Advice

Students worrying about student loans and debt are to receive debt management advice which aims to offers tips on how students can get their financial management under control.

The charity, National Skills Academy for Financial Services (NSAFS),plans to visit colleges and universities this September and October and ask students to take a Money Pledge, where students commit to taking on board the debt management advice by managing their finances responsibly.

The Money Pledge will identify six financial areas which are of most concern to students: bank accounts, savings, mobile phones, loans and mortgages, university fees or debit, credit and store cards.

This moves comes as an increasing number of graduates fail to find work after university and are left with personal debt problems, therefore meaning that some have to take professional debt management advice.

Sylvia Perrins, chief executive of NSAFS, commented: “The current economic environment has highlighted the importance of ensuring our nation is more ‘money-minded’. 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.”