UK

Nearly three in five students want more education on budgeting at school – poll

A think tank report has called for pupils to be given more education on financial planning at school or college.

A think tank report has called for pupils to be given more education on financial planning at school or college
A think tank report has called for pupils to be given more education on financial planning at school or college (Gareth Fuller/PA)

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%) 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%) said their time in school or college prepared them well for their studies in higher education.

But only 38% 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% 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% 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% of students want more vocational skills – and around half want more digital and IT skills (52%) and more oracy skills (49%).

Nearly two in five (39%) students said they think there are too many assessments in school and college, the survey found.

Meanwhile, around a third (34%) think studying four or five A levels or Btecs would give pupils “greater fulfilment and satisfaction”.

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.

It has also called for students to be able to take four or five subjects at A-level rather than just three, and for the number of assessments to be reduced.

Josh Freeman, policy manager at Hepi and author of the report, said: “It is a great success that our schools and colleges prepare many young people so well for higher education.

“Policymakers should think very carefully before making any changes that put this preparation at risk.

“But other parts of the system punch below their weight and should be reformed.”

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.”