A study involving 8,500 teenagers from all social backgrounds found that most of them are ignorant when it comes to money. The findings, the first in a series of reports from NatWesl that has started a five-year research project into teenagers and money, are particularly worrying as this generation of young people is likely to be burdened with greater debts than any before. Universitytuition fees  are currently capped at PS3,000 annually, but this will be reviewed next year and the Government is under enormous pressure to _  In the research, the teenagers were presented with die terms of four different loans but 76 per cent failed to identify the cheapest. The young people also predicted that they would be earning on average PS 31.000 by the age of 25, although the average salary for those aged 22 to 29 is just PS 17,815. The teenagers expected to be in debt when they finished university or training, although half said that they assumed the debts would be less than PS 10.000. Average debts for graduates are PS 12,363. Stephen Moir, head of community investment at the Royal Bank of Scotland Group which owns NatWest, said. "The more exposed young people are to financial issues, and the younger they become aware of them, the more likely they are to become responsible, forward-planning adults who manage their finances confidently and effectively." Ministers are deeply concerned about the financial pressures on teenagers and young people because of student loans and rising housing costs. They have just introduced new lessons in how to manage debts. Nikki Fairweather aged 15 from St Helens, said that she had benefited from lessons on personal finance, but admitted that she still had a lot to learn about money. According to Stephen Moir, students  _  .
are too young to be exposed to financial issues should learn to manage their finances well should maintain a positive attitude when facing loans benefit a lot from lessons on personal finance