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The Independent UK
The Independent UK
Eleanor Busby

Nearly half of all students want more budgeting and financial education at school

Nearly three in five university students want more education on financial choices and budgeting at school, a survey has suggested.

More than two in five (44 per cent) undergraduates wanted more teaching on career pathways in Personal, Social, Health and Economic education (PSHE) classes, according to the poll for the Higher Education Policy Institute (Hepi) think tank.

The survey, of 1,105 full-time undergraduate students domiciled in England, found that the majority (83 per cent) said their time in school or college prepared them well for their studies in higher education.

But only 38 per cent said the curriculum in school or college left them “ready for life and ready for work”.

In July, the Government launched its curriculum and assessment review, which is being led by education expert Professor Becky Francis.

The consultation on the review in England closed in November and an interim report is due to be published early this year.

Students were asked in the poll about which aspects of the PSHE curriculum they found helpful, and which topics they wanted to know more about.

Overall, 59 per cent said they wanted to know more about financial choices and budgeting in these classes.

The Hepi report said: “This may be more pressing because of the financial challenges students increasingly face while studying in higher education.

“Some 56 per cent of students now work part-time during term. Of those who do not work, a third say it is because they cannot find a job.

“They may therefore benefit from more careers experience and education in school.”

The poll, which was carried out by Savanta in November and December, suggested that 63 per cent of students want more vocational skills – and around half want more digital and IT skills (52 per cent) and more oracy skills (49 per cent).

(Getty Images/iStockphoto)

The report has called for students to be given more education on financial planning at school, and that every young person is given a “pathway mentor guarantee” – a one-to-one conversation with an expert in careers pathways to advise them on the best post-16 choices.

He added: “It is time to rebalance the GCSE curriculum back towards creative subjects which are sadly neglected in the current system.

“The volume of assessments is overwhelming teachers, never mind pupils, so the number of these must be cut down.

“And more space might be given to the things students feel are lacking, like financial education and budgeting.”

Tom Middlehurst, deputy director of policy at the Association of School and College Leaders (ASCL), said: “It’s great to see that most students feel the curriculum prepares them well – but it’s also apparent that there are problems that need to be fixed.

“Much of this is to do with the previous government’s emphasis on a highly academic diet of subjects and lots of examinations.”

Sarah Hannafin, head of policy at school leaders’ union NAHT, said: “Schools want to offer a varied, balanced curriculum but are constrained by tight budgets, lack of specialist facilities and limited curriculum time.”

She added: “The curriculum review is a chance to reform the system and deliver learning that is relevant, reflects society’s diversity and gives all students access to meaningful qualifications across a broader range of academic, arts and vocational subjects, using a variety of assessment methods.”

A Department for Education (DfE) spokesperson said: “We know there are parts of the current curriculum and assessment system that work well and other parts that need improvement to support all young people to achieve and thrive.

“Our independent, expert-led curriculum and assessment review will ensure students benefit from a cutting-edge system that is fit for purpose and will ensure they leave school ready for work and ready for life.

“The review is ongoing with a final report and recommendations due to be published in the autumn, as we continue to deliver on our plan for change.”

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