I don't think you can educate kids about certain types of emotional matters and certain types of empathy, at any age. Their brains just have not developed to the point where it's possible or useful.
"Empathy" doesn't really fully cover it, though. Yes, someone of any age can emphasize with someone in a tough situation, but actually having experienced something similar, or have seen others in similar situations, or just having lived longer and been exposed to the world at large... all of that changes how a passage like the GP quoted hits. Most children are not going to be able to really feel that passage. But I'd say most worldly adults would be able to, even if they hadn't lived with crushing debt.