Finance students’ ‘near-peer’ mentoring raises school pupils’ financial literacy

June 15, 2026 - 10:41

A new survey from the Financial Times has found that business schools are expanding their outreach programs, with a particular focus on financial literacy for younger students. One standout approach is "near-peer" mentoring, where finance students work directly with school pupils to teach basic money management.

The model pairs university students with secondary school pupils, closing the age gap and making the lessons more relatable. The mentors, often only a few years older, can explain concepts like budgeting, saving, and interest rates in a language that resonates. The survey showed that these programs have grown significantly in recent years, with schools reporting higher engagement and improved financial understanding among participants.

However, the findings also included a call for more institutions to contribute. While many business schools have stepped up, the need for financial education remains vast. Many young people leave school without understanding how to manage a bank account, avoid debt traps, or plan for long-term savings. The near-peer model is seen as a cost-effective and scalable solution, but it requires commitment from universities to train and support their student mentors.

The report suggests that expanding these initiatives could have a lasting impact, not just on pupils' financial habits but also on the mentors themselves, who gain teaching and leadership experience. For now, the message is clear: more business schools need to get involved if the gap in financial literacy is to be closed.