Equifax UK offers financial guidance for students

Equifax UK has released guidance for university students entering Freshers’ Week to help them manage independent finances and build credit history. Many students possess a ‘thin credit file,’ meaning they have little to no credit history, which can make it difficult for lenders to assess their creditworthiness in the future.

While government student loans do not appear on UK credit reports, everyday expenses such as mobile phone plans, Wi-Fi packages, and utility payments can impact credit scores. Financial health expert Craig Tebbutt noted that this period offers an opportunity for students to develop budgeting habits and build a foundation for long-term financial resilience by staying on top of payment deadlines.