Students discuss key terms related to credit and learn how creditors use capacity, character, and collateral as criteria for making loans. Students learn about credit rights and responsibilities. Groups use role-play scenarios to identify and discuss the rights and responsibilities of using credit.
Objectives
Students will
- define credit and creditor,
- define interest,
- identify and describe criteria lenders use to make loans, and
- explain the rights and responsibilities related to using credit.
Time Required
45-60 minutes
Concepts
- Capacity
- Character
- Collateral
- Credit
- Creditor
- Credit responsibilities
- Credit rights
- Interest
Whiteboard (SMART/notebook)
Whiteboard (ActivInspire/flipchart)
PowerPoint (pptx)
