TSN deals with credit crunch problems

The effects of the credit crunch on teachers have been highlighted by a counselling service.

A report from the Teacher Support Network (TSN) has revealed that the charity is receiving more calls concerning worries over housing, while the value of grants it handed out has increased.

In the opening months of 2008, the TSN gave out £62,000 in grants, representing a 70 per cent increase on the previous quarter and 35 per cent more than in the same period last year.

Patrick Nash, chief executive of the TSN, said: "More of our callers are having to seek help simply to make ends meet, showing that the national credit crunch is having a very real effect on teachers in particular."

He also reminded teachers that the charity offers money management advice in addition to grants and loan and highlighted its commitment to supporting teachers, as global economic conditions worsen.

The 130-year-old TSN provides services to trainees and serving teachers, as well as support to retired professionals.