Holy crap, Batman!
That is a whole lot of people who are going to find themselves in a very Dickensian misery later in life.
Why the hell are we not taught about the financial facts of life at school? (Or anything else of true value in life.) You would think it was the most obvious and critical of life skills, right up there with reading'n'rithmetic. But hey, nobody stands to benefit from this lack of education, right? Its just an oversight. This is a one-off problem nobody has foreseen before now, soon to be corrected. Nobody intentionally ensured that this subject wasn't part of the curriculum, oh no. It will be corrected lickety-split, before another crop of innocent school leavers come out of education in a few months time, into the workplace, and get into debt good and proper before they can say "how will I ever pay this debt off?".
Hmm. You can tell I love a good state education. I know, I had one.