Georgia SS7E10.d
The Standard
Understand the uses and costs of credit.
Georgia Standards of Excellence for Social Studies · Understand that a basic principle of effective personal money management is to live within one's income.
Teacher's field guide
What This Standard Means
What Students Need to Do
- Students explain why people borrow money and identify common forms of credit, such as credit cards and loans. They compare interest, fees, repayment terms, and the total amount paid.
What Mastery Looks Like
- Students can compare two credit offers and choose the less costly option using the stated rates and fees. They can explain how late payments and long repayment periods raise costs.
Common Misconceptions
- Students may think credit is extra income or that the minimum payment clears the debt quickly. They may also compare monthly payments without checking interest, fees, or total repayment.
How to Assess It
- Give students two $500 loan offers with different interest and fees. Ask which offer costs less and require one calculation and one sentence of evidence.
Lesson moves
Ways to Teach It
Give pairs three credit offer cards and calculators, then have them compute interest, fees, monthly payments, and total repayment.
Ask students to write: When might using credit be reasonable, and what costs or risks should a borrower check first?
Play Credit Choice Sort, where teams place purchase scenarios under pay now, borrow, or wait, then justify each choice.
Compare two sample phone financing plans and identify which costs less after interest, activation fees, and late fees.
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Printable SS7E10.d Worksheet
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