lesson
Types of Loans: Auto, Mortgages, and Student Loans
Identify common consumer loans used to finance large investments like houses, vehicles, and higher education.
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Credit, Borrowing, and Interest
5 lessons
Goal
Explain the mechanics of borrowing, borrower obligations to repay over time, and the role of interest as the cost of credit.
5 lessons
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- Understanding Borrowing and Lending: Getting Value Now and Repaying LaterUp next
- What Is Interest: The Price of Borrowing MoneyNot started yet
- How Interest Works for Savers Versus BorrowersNot started yet
- Types of Loans: Auto, Mortgages, and Student LoansYou are here
- Responsibilities and Risks of Using CreditNot started yet
Learning standards covered
SS.EC.FL.4.3Illinois Social Studies Standards · All agesExplain that when people borrow, they receive something of value now and agree to repay the lender over time.
SS.FL.4.5Illinois Social Studies Standards · All agesExplain that interest is the price the borrower pays for using someone else’s money.