Students learn about credit scores.
- Describe the purpose of a credit report.
- Define the role of credit scores.
- Explain the importance of a good credit score.
Standard 7: The student will identify the procedures and analyze the responsibilities of borrowing money.
Suggested Grade Level
6th – 12th Grade
When people apply for loans, lenders want to be sure they will repay the money. Most lenders rely on a person’s credit score to make this decision. Lenders use credit scores to determine the level of risk associated with loaning money to that person. Credit scores are based on information gathered by credit bureaus and placed in a credit file.