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Potential university-goers 'need financial education'
Friday, 26 October 2007
Life after graduation
The potential graduates of the future need better financial education before deciding whether or not to go to university, an expert has claimed.
School-leavers need to be aware of the relative benefits of both attending university and entering the recruitment market straight from school, according to Alastair Mathews, director of policy at the Personal Finance Education Group.
While university can leave graduates with valuable experience of how to deal with money, Mr Mathews called for increased financial education before the decision was made whether or not to attend university.
Mr Mathews said: "Young people need to be better prepared for the future by having more financial education while at school. Part of that financial education could be to look at these very questions: 'What is the best way to spend these years between 18 and 21?'.
"At university they've got to live independently as well and make all sorts of decisions about buying, spending and saving for future needs as well as present ones," he added.
According to figures published by NatWest, university leavers can expect to enter their graduate careers with an average debt of more than £12,000.