This is a series of activities designed to raise awareness about various types of loans (home loans, auto loans, school loans, etc.) and their affect on financial well-being. In this bundle, we look at loans from a broad perspective and the effect they can have on credit scores. We also look at the nitty-gritty details of how loans work, including when down payments are applied and if/when signing on for a fully amortized loan. Additionally, there is a step-by-step "how to" guide for actually getting a loan, and the final activity walks students through how four different types of mortgages (30-year fixed, 15-year fixed, 5/1 ARM, Interest Only) compare over the course of 20 years.
Loans (Part 1 of 6) - Loans Introduction
Loans (Part 2 of 6) - Down Payments
Loans (Part 3 of 6) - Amortization
Loans (Part 4 of 6) - Common Home & Automobile Loans
Loans (Part 5 of 6) - How to Get a Loan
Loans (Part 6 of 6) - Mortgage Comparisons