Citizens guidance Scotland has now written to all or any the party that is main in Scotland, urging them to accept a fresh policy of supplying all Scottish S1 college students with a ВЈ10 credit union account.
In specific Credit Unions – which charge significantly less interest, and which run more fairly as a whole.
The theory would be to assist in preventing scots that are young into crisis financial obligation, by motivating them to save lots of, and also by making them mindful that if they do need certainly to borrow cash you can find alternate loan providers, apart from payday advances.
The scheme has already been being introduced in Glasgow, where in fact the City Council announced it early in the day this season. CAS thinks it ought to be extended to all the Scottish young ones, and that the Scottish federal government should fund all 32 Councils to get this done. The expense of this could be around ВЈ500,000 per year – which we respect as вЂa bargain if it will help young Scots avoid the misery of debt’.