There’s a big difference between knowing financial basics and actually managing the average student debt of $25,000.
CFS-Nova Scotia chairperson Charlotte Kiddell recently spoke with Metro News Halifax about a survey that found students felt unprepared to manage their own finances going to university.
“Education is very important, but if a university is educating students on managing their finances on one hand, while raising tuition fees on the other hand, then there’s a clear conflict there,” Kiddell said.
“The survey showed 58 per cent of people said the best way to learn to manage money was talking to friends, family and professionals, while 30 per cent said gathering information from a financial institution.
Talking is great, Kiddell said, but the “number one” thing universities can do to help students manage debt is decrease tuition fees.”