Money Alert: Students not so clever when it comes to their money
Your support helps us to tell the story
From reproductive rights to climate change to Big Tech, The Independent is on the ground when the story is developing. Whether it's investigating the financials of Elon Musk's pro-Trump PAC or producing our latest documentary, 'The A Word', which shines a light on the American women fighting for reproductive rights, we know how important it is to parse out the facts from the messaging.
At such a critical moment in US history, we need reporters on the ground. Your donation allows us to keep sending journalists to speak to both sides of the story.
The Independent is trusted by Americans across the entire political spectrum. And unlike many other quality news outlets, we choose not to lock Americans out of our reporting and analysis with paywalls. We believe quality journalism should be available to everyone, paid for by those who can afford it.
Your support makes all the difference.Students may be not so clever when it comes to their money. More than 1.6 million of them lack confidence in their understanding of personal finance, according to a new study.
The money-management expert Blackbullion warns that the knowledge gap could lead people into financial difficulties. Its research showed, for instance, that three in five students don't understand the repayment terms of student loans.
Meanwhile, almost half of students go to university with no savings and 15 per cent actually turn up for higher education in debt.
Vivi Friedgut, founder of Blackbullion, said universities should help students make better-informed financial decisions.
"Universities have a duty of care to help students address money worries and avoid crippling debt," she argued.
But she also said students can help themselves. "Students don't need to be in the dark about their financial situation. The summer provides a great chance to get a headstart on managing finances before term time by thinking about a basic budget."
Join our commenting forum
Join thought-provoking conversations, follow other Independent readers and see their replies
Comments