Hundreds of thousands of students who start university this year are likely to face interest rates of 6.6% on their loans from September, higher than many mortgage rates.
The All-Party Parliamentary Group (APPG) on Financial Education for Young People today launches its report calling for compulsory money lessons in schools.
The communication of student fees has been described as a "national scandal" as a poll shows 59% of people in England feel they have little or no understanding of the new finance system.