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DO THIS NOW …

DO THIS NOW …. Grab a laptop and log on Then, grab a seat and analyze the graphic to the right by answering the following questions with a partner: How much has the average student debt at graduation changed between 1993 - 2015?

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DO THIS NOW …

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  1. DO THIS NOW… • Grab a laptop and log on • Then, grab a seat and analyze the graphic to the right by answering the following questions with a partner: • How much has the average student debt at graduation changed between 1993 - 2015? • What percentage of students graduating in 2015 had student loan debt? Has this number been increasing or decreasing?   • What do you think may explain the reasons behind these changes in average student debt and the percentage of college graduates who borrow? • Be prepared to share

  2. How can we be responsible users of loans?

  3. Loan Basics • What is it? • How people afford high priced items • How do they work? • Individual borrows money from lender • Borrower repays lender the original amount PLUS extra • Are they necessary? • YES—unless you are independently wealthy

  4. Why Do Loans Matter to You? • College • Chances are you can’t pay for tuition on your own • Cars • Only way to afford a new or used car • Houses • Loans are a must for home ownership

  5. What Do You Need to Know About Loans? • The major components: • Principal • Interest rate – fixed vs variable • Term • Getting a loan • Personal loans through banks • Student loans through FAFSA • Types of Student Loans • Types of federal loans • Federal vs private • Repaying loans • How to pay off loans quickly • Effects of not repaying loans • Ways to renegotiate loans

  6. How can we be responsible users of loans?

  7. Loans Task Menu • Complete TWO tasks in each row of the task menu • Complete your tasks based on what you want to learn more about regarding personal loans and/or student loans • Some tasks are more geared toward student loans • Some tasks are more geared toward personal loans • You have until the end of class

  8. Accessing Resources • Log onto the class website: • https://www.washoeschools.net/Page/8693 • Go to Week 10 • Copy and paste link into URL • All required resources are found at URL destination and class website

  9. Closure Complete journal reflection entry on loans

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