Education
Understanding Credit and Finance: Credit Scores Explained
#KnowYourScore
Resources for Schools and Universities
Introducing our new credit score resources for students
Credit Scores Explained is a free resource for secondary schools and universities aimed at helping young people to be financially fit for adult life.
Part of our #KnowYourScore initiative, the educational resources cover specific aspects of managing money and the role credit information plays in day-to-day life, with sessions aligning to financial education frameworks .
Why is it important that we help young people understand credit?
TransUnion research indicates the need to combat a lack of wider financial awareness amongst teenagers:
- One in seven young people said they lacked confidence in basic money skills
- Only around a third felt confident they could stick to a budget
- Just 9% were comfortable keeping up repayments on money loaned
Whilst the majority look to their parents for money advice, lessons at school and banks are the next most important sources of this information.i
Universities also have a role to play. For many young people, university is the first time they are indepedently managing money and paying bills. To help students of all ages, TransUnion is visiting UK universities to run sessions on credit reports and scores — these are free to all universities wanting to take part.
i Based on a survey of 1, 000 UK teenagers nationwide, August 2020
Kelli Fielding, our Managing Director of Consumer Interactive comments:
"Our aim is to give teens the best start to their financial lives, helping them learn more about managing money and understanding from an early age the role that their credit report and score can play. This information can help to prepare them for the future, whatever path they choose.”
Let's help the next generation better understand their finances: Get more details or request a free resource pack
If you are a school teacher and you wish to receive TransUnion's Understanding Credit and Finance: Credit Scores Explained free teaching resources, please send us your name, school and subject to our CreditScoresExplained team.
University sessions will be delivered by the TransUnion team. Send your name, role and educational institution to and we'll get back to you.
We will use the data collected to send teaching resources to you - please view our privacy notice on how this information is used.