Call You and Yours - How financially savvy are students?
The number of students taking out payday loans to make ends meet has doubled in the last decade according to a survey. It's because their income falls short by about 拢250 per month
A quarter of students are taking out payday loans to help fund their living costs at University. According to the National Student Survey, typical living costs each month are around 拢850 and most students fall short by about 拢250. Students can get a means-tested maintenance loan to help with living costs based on a sliding scale of parental income - but many parents don't realise the extent of the contribution they'll be expected to make. To make up the difference, students are turning to high-interest loans or credit cards.
The founder of MoneySavingExpert, Martin Lewis, says there's a big gap in people's financial education around the subject. So - how financially savvy are students, or the students you know?
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- Tue 17 Sep 2019 12:18麻豆社 Radio 4
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