Module 3 - Credit, Debt & Loans

Course description

Topic 3 introduces the interrelated concepts of credit and debt, and their potential to positively or negatively impact future personal financial success. This module begins by covering basic myths and facts about credit, and ends with a case study example that demonstrates dos and don’ts of money borrowing and loan repayment.

learning objectives

After completing this module, the student will be able to:

  • Define ‘credit’, ‘interest’, and ‘debt’ and understand their relationship

  • Describe three reasons a good ‘credit score’ is important

  • Identify credit and money borrowing best practices

  • List three alternatives to using credit to make a purchase

Module outline (90 min)

Prework (15 min) - Credit, Debt & Loans vocab matching game

Introduction (10 min) - Activity: Fact or Myth?

Interactive PPT Presentation (25 min) - Overview of core concepts

Case study example (20 min) - Molly Borrows $50

Evaluation (10 min) - Post-topic quiz

Wrap up (10 min) - “What did we learn?” whiteboard activity