See all 9th-12th Grades Standards
Managing Credit

Managing Credit

Article • 15 min of learning
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Here's how Managing Credit aligns with curriculum standards in Washington DC. Use the filters to change the location, set of standards, and grade level.

Credit

Knowledge Standards

CR.K.1: Understand the purpose, risks and benefits of credit.

Standards
Defined by Financial Literacy Standards 9th-12th Grades and align with Managing Credit
Students will describe the concept of credit and how it is used in certain situations.
Students will identify the risks and benefits of leveraging credit, including, using a credit card, leveraging a payment plan and taking out a loan.

Skills Standards

CR.S.1: Examine the cost of credit using the Annual Percentage Rate (APR), Effective Annual Rate (EAR) or the actual rate to be paid based on the period of compounding and other terms in the contract for a credit card or loan for purchases.

Standards
Defined by Financial Literacy Standards 9th-12th Grades and align with Managing Credit
Students will compare the cost of borrowing $1,000 using consumer credit options that differ in rates and fees.
Students will analyze how credit card grace periods, methods of interest calculation and fees affect borrowing costs.

CR.S.5: Identify factors that impact an individual's credit score, and ways individuals can improve their credit.

Standards
Defined by Financial Literacy Standards 9th-12th Grades and align with Managing Credit
Students will identify the primary factors that are included in credit score calculations.
Students will understand how to check their credit scores using at least one of the freely available credit reporting services (e.g., Experian, Equifax, TransUnion).
Students will identify ways that a person can increase their credit score.