Money Management at University
For many students, university is the first experience of financial independence. However, many find themselves entering a spiral of debt, not helped by the current funding system of student loans. The 'Credit Crunch' has also had a significant impact with the normally reliable 'Bank of Mum and Dad' joining the ranks of those pulling the plug on lending while part-time jobs are also harder to find.
Throw all this into the mix and it's not surprising that significant numbers of students soon become overwhelmed by financial difficulties. If the finances go wrong, especially during the first academic year, it can be hard to regain control. Evidence shows this can impact on academic performance, mental wellbeing, and university retention levels, leaving some students wondering if the anticipated great university experience is only an urban myth.
It is therefore vital that students are equipped with the necessary skills to manage their money, become more 'financially aware' and make university the positive experience that it should be.
