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Bank charges: Parents should teach their children how to manage their finances while at university

Parents can help their children avoid bank charges while at university by teaching them how to manage their finances when studying.

According to Ed Bowsher, head of consumer finance at lovemoney.com, an everyday money site, parents who cannot help their child with cash can be supportive in other ways.

He said: "Many parents won't have enough money to give cash to their kids while they're at university. But parents can still help by making sure that their children understand the basics of financial planning.

"Students should understand that it's best to borrow as little as they can and at as low a rate as they can."

Mr Bowsher added that students need to be aware that student loans from the government are the cheapest way to borrow, so this should be the first point of call for students seeking finance.

Last Thursday (August 18th), it was revealed that 384,649 applicants were accepted into university or college after receiving A-level results.

Amir Hussain

Amir specialises in personal loans, consumer debt and debt management.
 ADNFCR-2776-ID-800706989-ADNFCR



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