The Financial Services Authority (FSA) will bring in its own Money Doctors to UK universities as more students become unable to manage their own finances.
The Money Doctors program is designed to help students become more proficient with money and encourage them to face up to impending debt.
Commenting on the decision, Chris Pond, FSA director of financial capability, said: "The FSA's Money Doctors program is a new approach to financial education and seeks to address some of the causes of student financial problems.
"Our research shows that young people are least able to manage their finances and this is why much of our work targets this group."
The FSA's findings revealed that one-in-three students are constantly overdrawn, with two-in-five admitting to being completely disorganised with their money. A further one-in-three said they never look at their bank balance.
The Money Doctors project, which involves in-house student money advisors at higher education institutions, began at Roehampton University in 2005. The FSA hopes that all 168 institutions will use Money Doctors by 2011.
