We share a vision of better informed, educated and more confident citizens, able to take greater responsibility for their financial affairs Our work

 

Further education

Why is it important for learners to take control of their finances?

Learners from all walks of life face more financial responsibilities than ever before. Striving to complete courses or training, they already depend on knowing how to maximise their entitlements and where they can seek advice when financial difficulties arise. It is between these two elements that we have been working since 2007 to see how further education colleges and other providers could begin planning proactive approaches to help their learners deal with money issues in a more confident and informed way.

Promoting personal finance skills to the diverse range of learners in the college sector is particularly important as many young people entering college – often with limited resources – face particular money challenges. After leaving school, young people often have to take independent financial decisions for the first time. Older students returning to education or training have to juggle financial priorities to enable them to improve their skills and job prospects. In both cases, the financial decisions these learners take may determine whether they complete their courses and training, and may have a major bearing on their lives for years to come.

How colleges and FE providers can help their learners

Through working in partnership with government, financial services and other further education bodies, we aim to build a programme of support to help embed provision for learners’ financial capability throughout the FE sector.

During 2009-10, we are funding organisations in each home nation to coordinate financial capability activities in up to 120 colleges and other FE providers. See ‘how to get involved’ for more information.

In 2008, we also produced a free resource called Money for Life through supporting staff in ten colleges across the UK – primarily in student services – during academic year 2007-08. Colleges can use the suggestions for workshop and tutorial activities contained in the CD to give them initial ideas about helping their students deal with money matters in a more informed way, either on its own or used alongside other resources.

 

 

Download Money for Life [ZIP]