Schools to teach mortgages and money skills under new curriculum – DfE

The Government has revealed plans to update the national curriculum, aiming to give young people the skills needed for life and work. 

Pupils will get more teaching on reading, science and maths, as well as practical skills like spotting fake news and managing money, including mortgages. 

The Department for Education (DfE) said the reforms will help more young people take up higher-level learning by age 25.

Primary pupils will learn about media literacy, financial basics and reading. 

A new reading test in year 8 and tougher writing checks in year 6 will target pupils who fall behind. 

According to the Government, one in four children left primary school unable to read properly, and too many failed GCSE English. 

The new test is meant to identify those needing extra help.

Education Secretary Bridget Phillipson said: “It has been over a decade since the national curriculum was updated, and it’s more crucial than ever that young people are equipped to face the challenges of today, so they can seize the exciting opportunities that life has to offer. 

“The path to our country’s renewal runs through our schools: they must be an epicentre of the strongest possible foundations of knowledge, and the skills to excel in the modern world. 

“From the fundamentals of reading to the present danger of spotting fake news, as part of our Plan for Change, these landmark reforms will help young people step boldly into the future, with the knowledge to achieve and the skills to thrive as the world around us continues to rapidly evolve.”

Additionally, the new curriculum will also cover mortgages as part of financial literacy, with the aim of making sure no pupil misses out on key knowledge about borrowing and homeownership. 

Mark Harris, CEO of mortgage broker SPF Private Clients, said: “Financial literacy is a life skill that can make all the difference between keeping on top of your finances or finding yourself drowning in debt. 

“Teaching children these valuable lessons in the classroom will ensure that nobody slips through the net. 

“However, they need to be taught properly in order to have a real impact so we would suggest going a step further – rather than teachers adding mortgages to their workload, we would encourage the government to invite mortgage brokers into the classroom.”

Harris added: “Being at the coalface with real-life experience, brokers can better explain how the mortgage market works, how to borrow sensibly and seek independent advice, the importance of having a strong credit file and not overstretching yourself. 

“This will ensure the next generation are much more clued up than their parents.”

Schools will have until September 2028 to implement the new curriculum, with details published by spring 2027.

Ruth Marvel, CEO, The Duke of Edinburgh’s Award, said: “We are delighted that the Government has pledged to create a new enrichment entitlement. 

“This is a watershed moment that will ensure every pupil, no matter their background, can experience an enriched education and have equitable access to the activities and experiences that engage, inspire and develop, as a complement to the academic curriculum. 

“At DofE we see every day the positive impact enrichment opportunities have on young people and their communities: they boost confidence and essential life skills, develop independence and social capital, improve wellbeing and resilience, and support belonging, school attendance and attainment.”

Marvel added: “We look forward to continuing to work with Government to make the vision of an enrichment entitlement a reality for all.”

Jane Gratton, deputy director of public policy at the British Chambers of Commerce said: “It is essential that every young person finishes their education with the knowledge and skills to move successfully into working life. 

“Business will welcome curriculum changes that improve employability – such as team working, oracy, literacy, digital and financial skills. 

“It’s crucial that every student can access an appropriate qualification pathway to help keep them engaged – and in education or work. 

“With business, education providers and Government working together – we can ensure our future workforce is ready for the challenges and opportunities ahead.”

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