A fifth annual survey from UK Student Loans has found that parents are increasingly expecting their children to take responsibility for their finances whilst at college or university . Because most states do not require that financial literacy be taught in schools, most students never have the option to learn money management skills and financial responsibility before taking out their first student loans. As the cost of higher education continues to rise , the study found that 48 % percent of parents assume that their children will pay for most , if not all , their college or university fees compared to 39 % in 2012 . This raises the issue of teaching financial literacy education to children whilst they are still at school so that they will be better informed and well placed to make astute decisions about the cost of high education . The pressure is on parents to prepare their children for these costs sooner rather than later and to develop money management skills before they enter college , university or the workplace .
A fifth annual survey from UK Student Loans has found that parents are increasingly expecting their children to take responsibility for their finances whilst at college or university . As the cost of higher education continues to rise , the study found that 48 % percent of parents assume that their children will pay for most , if not all , their college or university fees compared to 39 % in 2012 . This raises the issue of teaching financial literacy education to children whilst they are still at school so that they will be better informed and well placed to make astute decisions about the cost of high education . The pressure is on parents to prepare their children for these costs sooner rather than later and to develop money management skills before they enter college , university or the workplace .