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News News Online program attempts to address student debt
A not-for-profit organisation has invented an online financial literacy program to address concerns about the number of school students slipping into debt. The Financial Basics Foundation was established to educate secondary school students about financial management. Chairman Barrie Adams says half of year nine and 10 students do not understand mobile phone plans and cannot work out how much they are spending on calls. Mr Adams says the free program will be sent to about 1,200 schools throughout Australia. "Every young Australian needs to be in a better position when they leave the education system to understand credit, to under stand the basics of financial management so they can really get on and enjoy their life and the opportunities that come up," he said. "I think it is going to be a more serious problem as these young people do get access to more money and want to know what to do with it."
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