The Open University is now offering free debt management courses to help people who are struggling with the effects of the credit crunch.

Entitled ‘Personal Finance: Debt and borrowing in its wider context’, the debt management course is designed  to help people understand the concept of debt, as well as educating students about about how to become debt free. The debt management course introduction states:

Increasingly, debt has become a part of everyday life in the UK and, as a result, discussion about levels of personal debt made headline news throughout the mid 2000s. The amount of personal debt carried by UK citizens in 2005 topped the seemingly staggering figure of £1.1 trillion (Bank of England, 2005). Everyone who has a mortgage, a personal loan or owes money on a credit card contributes a part of this total sum. Debt is regularly featured in the news media, with stories about how much some people are borrowing, how some extraordinarily high rates of interest are being charged, or with questions about whether debt is becoming an intolerable burden for some households.

Professor Brenda Gourley, the Open University’s Vice-Chancellor, says: “This is a purpose built website of educational resources, all tailored to provide information to individuals who may be feeling the effects of the global economic climate.”