Martin Lewis calls on UCAS to stop emailing ads for costly private 'student loans'- MSE News

Former_MSE_Nick_RK
Former_MSE_Nick_RK Posts: 19 Forumite
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edited 6 September 2019 at 10:44AM in Student MoneySaving
MoneySavingExpert.com founder Martin Lewis has called on the university admissions service to stop sending out emails with advertising from a private student loan firm...
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'Martin Lewis calls on UCAS to stop emailing ads for costly private 'student loans''
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  • michaels
    michaels Posts: 27,983 Forumite
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    Am I the only one who is rather sad that I 'brightest and best' young people who are smart enough to go to university are not smart enough to understand the consequences of taking a loan nor work out the cheapest way to borrow? :(
    I think....
  • I'm glad Koen Lamberts had left the University of York before taking up his new VC position and CEO of Ucas before this came out.
  • I saw an add for future finance on the City University London website. Very concerning.
  • prowla
    prowla Posts: 13,144 Forumite
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    michaels wrote: »
    Am I the only one who is rather sad that I 'brightest and best' young people who are smart enough to go to university are not smart enough to understand the consequences of taking a loan nor work out the cheapest way to borrow? :(
    They're just kids without your extensive life experience.


    What did you know at 17?
  • michaels wrote: »
    Am I the only one who is rather sad that I 'brightest and best' young people who are smart enough to go to university are not smart enough to understand the consequences of taking a loan nor work out the cheapest way to borrow? :(


    Not to open a can of worms but (from UCAS stats 2018) 28% of 18 year olds go to university.

    Secondly - (as said above) these people are generally only 17/18 with likely limited experiences of finances, some may not have financially experienced friends or relatives to help explain to them.

    Thirdly - as someone who has spent 10 years studying and working at universities can assure you that adults who probably are the “brightest and best (awful phrase by the way)” have pretty shocking financial understanding.

    Fourthly - many many adults are completely incompetent with money. I assume this also makes you sad.

    Unless of course you have always made the “correct financial decision” (unlikely) throughout your life. In this case, maybe, your attitude could be justified.
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