All resources in Oregon Personal Financial Education

How do ATMs work?

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ATM machines are some of the most useful technologies today, and perhaps one of the most prominent that connects our digital world to the physical one. By simply putting in your card you can instantly get cold hard cash from your bank account, but how is that even possible? We've all used an ATM: After you input your card into an ATM, you then input a PIN to ensure proper security measures, then you're met with prompts for how and how much money you want to extract. Once the entire process is approved by the bank, you get your money out. In essence, an ATM machine is a computer that has a mechanical dispenser for cash. Notably, that computer is connected to a secure network that can link up and validate information with your bank account. So what all goes into this giant computer that dispenses cash?

Material Type: Diagram/Illustration

Author: Concerning Reality

Lesson Guide: How Checking Works

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In this lesson, students will be able to: -Explain what a checking account is used for -Understand the variety of ways they can deposit and withdraw funds from their checking account -Describe the consequences of not being in the banking system -Read a bank statement -Understand what the various components of a bank statement mean to interpret where their money goes

Material Type: Lesson

Author: Next Gen Personal Finance

Remix

Financial Aid and Financial Literacy

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The cost of college should never discourage anyone from going after a valuable degree. –Arne Duncan, former United States Secretary of EducationLEARNING OBJECTIVESBy the end of this section, you will be able to:Establish financial goalsIdentify strategies for creating and maintaining a budgetDescribe available options for paying for collegeDescribe the benefits and risks of creditDevelop financial literacy skills to prepare for your financial future

Material Type: Module

Author: Janice Grover-Roosa

Is College Still Worth the High Price? Weighing Costs and Benefits of Investing in Human Capital

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Students have several options for life after high school. While college has been a popular choice, college enrollment for recent high school graduates has dropped, and some people are challenging the notion that college is the best route for the majority of students. This article examines whether college is still a good investment.

Material Type: Lesson, Reading

Authors: Cameron Tucker, Guillaume Vandenbroucke, Scott A. Wolla

Payday loans

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Payday loans, which are sometimes called cash advances, are a form of unsecured short-term loans that are typically associated with very high interest rates. In this video we explore an example of a payday loan and use that to better understand the defining characteristics of a payday loan, and how they translate into an effective interest rate. Created by Sal Khan.

Material Type: Lesson

Author: Sal Khan