TV presenter Carol Vorderman has said that more than 300,000 16-year-olds complete their education without a sufficient understanding of maths to help them avoid the sort of debt consolidation company that she endorsed for 10 years.
Vorderman, who revealed the findings as part of a report for the government, said the standard of maths among young people was making it almost impossible for her not to exploit them
She said, “I think it’s shocking in this day and age that young people don’t have the basic level of maths required to help them realise that if you borrow £10,000 and pay that back at £75 per month over 25 years then they pay back a whopping £22,500.”
“It’s absolutely tragic.”
Vorderman’s Maths proposals
The former Countdown co-host, who carried out the report despite not having the qualifications required to be a teacher, suggested that the curriculum should offer a higher standard in core areas such as personal finance.
She continued, “Anyone who has ever taken out a loan with a debt consolidation company will tell you how important it is to know that 15% interest over 5 years will work out at a lot less than 12.5% interest over 25 years.”
“Why didn’t I mention that when I was doing the adverts? Because I thought that everyone knew.”