See all 9th-12th Grades Standards
Borrowing

Borrowing

Article • 15 min of learning
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Here's how Borrowing 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 Borrowing
Students will identify the risks and benefits of leveraging credit, including, using a credit card, leveraging a payment plan and taking out a loan.
Students will describe the concept of credit and how it is used in certain situations.

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 Borrowing
Students will analyze how credit card grace periods, methods of interest calculation and fees affect borrowing costs.
Students will compare the cost of borrowing $1,000 using consumer credit options that differ in rates and fees.