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Money Champions steering students away from debt

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The University of East London has joined forces with local financial advice organisations to help their students avoid getting sucked into debt.

For young students, going to university is often the first time they have lived away from home, and the first time they have had to manage their own finances.  To help promote financial literacy among its undergraduates, UEL in conjunction with Money A&E and Citizens UK are promoting the Money Champions scheme. Students who volunteer will be trained as money mentors with the aim that they will be able to offer support and financial advice to other undergraduates, who may be reluctant or embarrassed to discuss their money worries with a professional.

The first training session with potential Money Champions took place at University Square Stratford on February 4.  Another is planned for February 11.  One of the promoters of the scheme within the university is Dr Tim Hall, of the School of Social Sciences.

“UEL sets great store in supporting students to manage their money wisely” said Dr Hall. “This is particularly important given the ubiquitous nature of predatory lending today. The beauty of the Money Champions programme is that it enables students to share the skills they have acquired with each other and take them back to their communities.”

In addition to recruiting Money Champions, the Student Money Advice and Rights Team (SMART) will be holding a series of events to help students manage their money during National Money Awareness Week which runs from February 9to 13.

They will be located at the new Student Hubs at Docklands and Stratford campuses from 11am to 2pm all week.  Resources will include information on various aspects of finance and budgeting; a full financial MOT; a chance to win the contents of shopping baskets; top money saving-tips and advice on healthy eating on a budget.

If you would like to become involved in Money Champions contact Jerry During at jerryduring@moneyaande.co.uk    

Notes to Editors

The University of East London (UEL) is a global learning community with students from over 120 countries world-wide. Our vision is to achieve recognition, both nationally and internationally, as a successful and inclusive regional university proud of its diversity, committed to new modes of learning which focus on students and enhance their employability, and renowned for our contribution to social, cultural and economic development, especially through our research and scholarship. We have a strong track-record in widening participation and working with industry.