This lesson will provide high school students with information about what information is collected by the three main credit bureaus and included on a credit report, and how credit bureaus share the information. Free resources for viewing personal credit scores also discussed.
Material Type: Activity/Lab, Lesson, Lesson Plan
Credit bureaus have evolved into big businesses. The December 2017 issue of Page One Economics: Focus on Finance addresses the growth of credit bureaus and how the credit reports they maintain affect both creditors and borrowers.
Material Type: Lesson, Reading
In this lesson, students first learn how credit history and credit scores are determined. Then, to better understand the protections of the Equal Credit Opportunities Act, they participate in a card-sorting activity where they evaluate creditworthiness based on borrower characteristics, determine which characteristics may be legally considered, and sort the applicants from most likely to least likely to get a loan. Next, they examine a primary source document to see how information that can be legally used to evaluate credit changed with the act. In an optional extension activity, students sort cards again to match primary borrowers with cosigners. They then learn about the pros and cons of cosigning.
Material Type: Activity/Lab, Lesson, Lesson Plan
Credit can be a powerful tool in your financial toolbox if you understand how to use it wisely. In this course, you'll learn about different types of credit and the costs associated with using credit. You'll learn the importance of building strong credit by borrowing wisely and paying promptly, arranging credit for making major purchases like a car or home, avoiding common credit mistakes, and monitoring your own credit. You'll also learn about credit reports, your credit score, and steps you can—and should—take to build your own credit cred!
Material Type: Full Course
Imagine that you are a bank and a main part of your daily business is to lend money. Unfortunately, lending money is a risky business – there is no 100% guarantee that you will get all your money back. If the borrower defaults, you will face losses in your portfolio. Or, in a bit less extreme scenario, if the credit quality of your counterparty deteriorates according to some rating system, the loan will become more risky. These are typical situations in which credit risk manifests itself. According to the Basel Accord, a global regulation framework for financial institutions, credit risk is one of the three fundamental risks a bank or any other regulated financial institution has to face when operating in the markets (the two other risks being market risk and operational risk). As the 2008 financial crisis has shown us, a correct understanding of credit risk and the ability to manage it are fundamental in today’s world. This course offers you an introduction to credit risk modelling and hedging. We will approach credit risk from the point of view of banks, but most of the tools and models we will overview can be beneficial at the corporate level as well. At the end of the course, you will be able to understand and correctly use the basic tools of credit risk management, both from a theoretical and, most of all, a practical point of view. This will be a quite unconventional course. For each methodology, we will analyse its strengths as well as its weaknesses. We will do this in a rigorous way, but also with fun: there is no need to be boring.
Material Type: Full Course
This lesson will provide high school students with information about how a credit card works, and understand what information determines a personal credit score.
Material Type: Activity/Lab, Lesson, Lesson Plan
CashOnHand - Credit - Billy - English
Material Type: Lesson
CashOnHand - Credit - Billy - Spanish
Material Type: Lesson
CashOnHand - Credit Cards - Brandon - English
Material Type: Lesson
CashOnHand - Credit Cards - Brandon - Spanish
Material Type: Lesson
During this lesson, the student(s) will:• Understand the risks of credit cards and how interest rates can increase your credit card balance. • Learn about credit records and the importance of good credit.• Explain why it’s important to pay credit card bills in full and on time.
Material Type: Lesson
Students learn and discuss the advantages and disadvantages of using credit. They read a scenario about a young person's use of a credit card and answer questions regarding repayment. They learn about credit history, credit reports and credit-reporting agencies.
Material Type: Lesson
Students will comprehend the essential steps involved in building credit.
Material Type: Lesson Plan
Students learn credit terminology and analyze an actual loan application from a family member.
Material Type: Lesson Plan
Students will comprehend essential credit concepts, emphasizing the purpose and role of credit, the significance of maintaining a healthy credit rating, and key terms including APR, grace period, late fees, finance charges, default rates, interest, and closing costs.
Material Type: Lesson Plan
Students will be able to explore credit-related concepts and tools, delving into key terms including credit, credit cards, installment loans, revolving credit, student loans, mortgage, payday loans, predatory lenders, and simple interest in this lesson. Class Time Needed: 75-83 minutes (block schedule class-time)
Material Type: Lesson Plan
Lessons about managing and monitoring credit.
Material Type: Lesson Plan, Unit of Study
Now more than ever, it’s essential that young people know how to use credit cards wisely and manage their debt, before they learn the hard way. This video features Lauren Popkoff, a teacher at Brooklyn College Academy in Brooklyn, New York. As Lauren lifts the veil off of credit, she outlines a lesson she teaches her high school students to arm them with the knowledge they need to make wise financial decisions. In this lesson, Lauren presents the advantages and disadvantages of credit, compares credit card offers with her students, discusses ways to establish credit, and highlights the credit card act of 2009.
Material Type: Lecture
This website guidance document describes the Debt Slapped project, produced by Consumer Education and Training Services. Debt Slapped provides videos and helpful resource links to help people smartly finance their education.
Material Type: Activity/Lab, Homework/Assignment, Interactive, Reading, Teaching/Learning Strategy
A short sale occurs when someone wants to sell a home, but owes more on the home than its value. We explore some of the major considerations that go into a short sale in this video. Created by Sal Khan.
Material Type: Lesson
