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‘Schools should teach avoidance of loans problems’

‘Schools should teach avoidance of loans problems’

Category: Loans

Updated: 19/11/2008
First Published: 19/11/2008

MONEYFACTS ARCHIVE
This article was correct at the time of publication. It is now over 6 months old so the content may be out of date.

Children should learn about personal finance in order to ensure they do not suffer debt problems, according to the Liberal Democrats.

Leader of the party Nick Clegg is to propose that the maths curriculum in schools includes such lessons, in order to properly educate pupils.

He will tell those attending a Youth Parliament event that a growing number of people are struggling with unsecured loans and that they need to be taught about getting out of financial difficulty.

"One of the reasons why the economy's in such a state at the moment is because of all this debt. It is our young who will inherit this legacy of debt," the speech will note.

According to Mr Clegg, personal debt in the UK has risen by £1 trillion since the Labour government came to power in 1997.

Meanwhile a study by Engage Mutual has revealed that 23 per cent of parents have helped with debts their adult children have accumulated at university.

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