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Date Submitted: 11/15/2012 12:31 AM
Managing Debt
Introduction
Managing Debt
Learning Objectives
Lesson 1 Home Ownership: Cribs – How Do I Get Mine?
• Identify the advantages and disadvantages of buying a home and renting a home. • Explain the terms and conditions of a home mortgage and how they affect monthly mortgage payments and the total cost of a mortgage. • Identify the characteristics of fixed interest rate mortgages and variable interest rate mortgages and the advantages and disadvantages of each. • Calculate the equity a homeowner can acquire.
Lesson 2 Auto Loans: Getting Wheels
• Identify the characteristics of a car lease. • Explain how the cost of a leased car is determined. • Identify the characteristics of a lease that will increase or decrease the cost of a leased car. • Identify the operating costs for which a lessee is responsible.
Lesson 3 How to Finance a College Education: Big Expense, Bigger Payoff!
• Explain the difference in the cost of attending a public or state university, a private university, an in-state college, an out-of-state college, and a two-year college. • Identify the various forms of financial aid available to students – grants, scholarships, loans, and work study – and the means to reduce the cost of college. • Determine the amount a student must fund toward his or her college education under various scenarios. • Determine the tuition, room, and board for Connecticut’s “state” universities, “out-of-state” public universities, and private universities.
Lesson 4 Managing Your Debt: How Much is Too Much?
• Identify and calculate the ratios used to determine acceptable levels of debt.
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Introduction
Learning Standards (grades 9-12)
Business
Connecticut Department of Education
Business and Finance Technology – Business Management • Identify factors that affect the choice of credit, the cost of credit, and the legal aspects of using credit. Cooperative Work Education • Compare and contrast strategies for personal finance and risk...