Standard 4: Using Credit

loading spinner
Export Print
General Information
Number: SS.912.FL.4
Title: Using Credit
Type: Standard
Subject: Social Studies
Grade: 912
Strand: Financial Literacy (Discontinued after 2023-2024)

Related Benchmarks

This cluster includes the following benchmarks.

Related Access Points

This cluster includes the following access points.

Access Points

SS.912.FL.4.AP.1
Compare the cost of credit by using the annual percentage rate (APR), initial fees charged, and fees charged for late payment or missed payments.
SS.912.FL.4.AP.2
Compare how banks compete to offer low introductory credit rates, which increase over time or when a payment is missed or late.
SS.912.FL.4.AP.3
Explain the difference between secured and unsecured loans as they relate to collateral, risks and interest rates.
SS.912.FL.4.AP.4
Describe the benefits of making a down payment on a loan.
SS.912.FL.4.AP.5
Explain how credit bureau reports help lenders make credit decisions.
SS.912.FL.4.AP.6
Discuss the concept of a credit score as it applies to obtaining a loan.
SS.912.FL.4.AP.7
Describe how employers, landlords and insurance companies use credit scores
SS.912.FL.4.AP.8
Explain the consequences of failure to repay a loan.
SS.912.FL.4.AP.9
Discuss that consumers who have difficulty repaying debt can seek assistance through credit counseling services and by negotiating directly with creditors
SS.912.FL.4.AP.10
Discuss bankruptcy options, benefits and consequences for consumers who are unable to repay debt.
SS.912.FL.4.AP.11
Explain why people apply for a mortgage to purchase a home and the consequences of not making payments.
SS.912.FL.4.AP.12
Discuss the laws that protect consumers who use credit.
SS.912.FL.4.AP.13
Explain that consumers are entitled to a free copy of their credit report annually to check for errors.

Related Resources

Vetted resources educators can use to teach the concepts and skills in this topic.

Lesson Plans

Comparing Unsecured Loans:

Students will conduct research to identify, compare, and discuss characteristics of personal loans, student loans, and unsecured credit cards in this lesson plan.

Type: Lesson Plan

Comparing Secured Loans:

Students will conduct research to identify, compare, and discuss characteristics of auto loans, mortgages, and secured credit cards, in this lesson plan.

Type: Lesson Plan

Unsecured and Secured Loans:

Students will conduct research to identify characteristics of secured and unsecured loans, in this lesson plan.

Type: Lesson Plan

The Cost of Credit: Financing an Automobile:

Students will play a Scratch program and make choices to simulate buying and financing an automobile to explore the cost of credit, in this lesson plan.

Type: Lesson Plan

Text Resource

Case Study: Drowning in Debt: Making Healthy Decisions to Manage Money:

Using this case study, students can discuss the different strategies people use to manage debt.

Type: Text Resource

Student Resources

Vetted resources students can use to learn the concepts and skills in this topic.

Parent Resources

Vetted resources caregivers can use to help students learn the concepts and skills in this topic.