Parents and teachers have to prepare youngsters so they can look after their own money by the time they reach university.
If teenagers are not able to budget and set cash aside for bills, then they will struggle after they receive a loan for the first time.
Because of this, Dr Tessa Stone – chief executive at education charity Brightside – has called for financial management to be introduced onto the school curriculum.
She added while parents will be able to give advice on most areas, there are some where they will require the assistance of learning centres – such as mums and dads who have never been to university and therefore will not understand the loan process.
Dr Stone thinks the current generation – more than any other – is going to have to make sure "they really understand as much as possible what the costs of living away from home or living at home [are]".
"Budgeting is going to take on a whole new significance," she remarked.