Financial education specialist ifs University College has today welcomed the publication of the independent review of the Money Advice Service conducted by Christine Farnish.
Amongst its many recommendations the report proposes that MAS should invest in promoting financial education in schools, quality-assuring existing financial education programmes and co-ordinating resources for teachers. This should be done, the report says, by working alongside existing providers, rather than “duplicating other provision”.
Commenting on the report, Vice Principal Alison Pask said:
“As the only organisation to offer dedicated personal finance qualifications at Key Stage 4 and 5, we have consistently made the point that a collaborative approach to financial education needs to be developed to improve the financial capability of the nation’s consumers.
“Financial capability is a crucial life skill and our research indicates that, despite financial capability recently being added to the national curriculum, there is still much work to be done to ensure that all young people have access to education on the subject. We look forward to working with MAS to develop a financial education strategy that enjoys unified support and delivers real long-term change.”