FSA begins recruitment drive for university Money Doctors
20th June 2007From tuition fees to loans and credit, students face more financial responsibilities today than ever before - but for many students, university will probably the first time they will have handled their own finances.
In recognition of this, the search is on for another 30 universities to take part in the Financial Services Authority's (FSA) rollout of its Money Doctors programme for the next academic year.
The Money Doctors initiative is a resource kit for student advisers containing a range of practical and innovative approaches to students' money problems. It forms part of the National Strategy for Financial Capability, led by the FSA and developed in partnership with Student Money Advisors in higher education institutions. Most importantly, the toolkit reflects the changing needs of students across the full academic experience - from fresher to graduate.
A series of road shows, supported by Abbey, will take the FSA's recruitment drive across the UK. They will be hosted by individual universities, and student advisers and counsellors from all higher education institutions in the region will be invited along.
Steve Stillwell, Education Policy Specialist for the FSA, said:
"The FSA is leading the way on Financial Capability. Its national strategy targets consumers at specific life stages with pertinent and practical financial information. Money Doctors is a key aspect of this approach.
"Too often, student advisers and counsellors only get to hear about students' financial concerns once they've reached crisis point. But the Money Doctors approach helps advisers broach financial issues before they've become a problem. The toolkit includes ice-breakers, budgeting, part-time work, accommodation and graduate finance - providing a big picture approach to money.
"For many young people, university will be the first time they've handled their own finances. Getting the key skills, such as budgeting and the prioritising of bills, under their belt can make a real difference to how students approach their future finances."
