New Bank of England and Pearson partnership champions financial education
Blackbullion, the financial wellbeing platform for students, is today launching Blackbullion Futures, a pilot programme to help school leavers make financially informed decisions to better navigate their career and education choices. In partnership with the Bank of England (@bankofengland) and Pearson (@pearson), the world’s leading learning company, the free online learning resources will give 16–19-year-olds the skills, knowledge, and confidence to make the right decision for their financial future.
Finances are defining young people’s lives more than ever. Last year, the Young Persons’ Money Index found that 67% of young people (15-18) worry about money, increasing to 82% for 17-18 year olds. 83% of young people want to learn more about money and finance in school. At the same time, The Money Advice Service found that 72% of schools and colleges would like to increase their financial education provision. However, key barriers include a lack of time in timetables (50%), lack of curriculum flexibility (34%), the cost of delivery (32%) as well as the fear of not having the necessary skills or knowledge to do so (28%).
Blackbullion Futures helps participating schools, colleges, and other organisations across the UK overcome these roadblocks, enriching curriculum and PSHE programmes with impartial, engaging and informative learning activities from leading education and finance organisations. Resources, CPD sessions and masterclasses will feed into lessons, assemblies, and careers programmes, to support student – and parent – engagement.
With this enhanced understanding in place, school leavers can better understand the full range of post-secondary options available to them – be it college, university, or apprenticeships – and how this impacts their financial future. Barnado’s is just one of the leading organisations already committed to the pilot, to help support children and young people in care, or who have left the care system.
Key modules will include learning how to budget and managing student loans, through to becoming an apprentice and starting a business after school. Engaging videos, articles and gamified tech will all make learning enjoyable and relevant, helping to bolster young people’s financial confidence, and better prepare them for life after school or college. Signposting to available financial support, scholarships, bursaries, and additional funding is also included.
Vivi Friedgut, Blackbullion Founder and CEO comments,
“So many school leavers find themselves asking, ‘What’s the right next step for me?’. The reality is they need support to answer this long before they finish school. There’s a myriad of post-secondary pathways, but an ever-complex funding system, together with mixed messages from media, society, and even family, makes it difficult for young people to navigate.”
“We’re honestly delighted to be partnering with the Bank of England and Pearson to provide that roadmap for school leavers, to empower them to make informed financial decisions and take control of their futures.”
A key focus for the campaign is to drive greater financial inclusion, through financial education. Dedicated parent/guardian content has also been created to help caregivers support student decision making, particularly for key groups such as care leavers and first-in-family. Blackbullion Futures is a not-for-profit initiative.
Andrew Hebden, Head of Outreach and Education, Bank of England, adds,
“The Bank of England is committed to supporting the delivery of financial education. Our education programme focuses on helping young people build the knowledge and skills to make well-informed financial decisions both now and in the future.”
“Blackbullion Futures builds on our existing suite of educational resources, and we’re excited to see how young people engage with this pilot as we work towards the wider launch later this year.”
Jurgen Verhaegen, VP Higher Education UK and Europe, Pearson, said:
“Our goal is for young people to be equipped and empowered with the knowledge and skills they need to progress to the next stage of their learning journey. Whether that’s university, apprenticeship, employment or another pathway, we’re committed to helping everyone access the information they need to make the decision that’s right for them.”
“Pearson is proud to partner with Blackbullion Futures to provide free financial wellbeing resources to many young learners across the UK to guide and support their future pathway.”Recommend0 recommendationsPublished in