Students explore characteristics of secured or unsecured types of credit by playing a sorting game.
Borrow (Getting loans, Managing credit)
CTE (Career and technical education)
High school (9-10), High school (11-12)
45-60 minutes
Big idea
Borrowers may receive different types of loans based on their credit history.
Essential questions
- How might a person’s credit habits and decisions influence their ability to borrow money?
- What types of loans help people pay for large purchases or expenses?
Objectives
- Understand the characteristics of secured and unsecured loans in order to make informed borrowing decisions
- Identify items that could be purchased using a secured loan versus an unsecured loan
What students will do
- Work collaboratively to sort game cards with loan characteristics into two piles: secured and unsecured loans.
- Work collaboratively to sort game cards with items to show which ones can likely be purchased with secured loans and which can likely be purchased with unsecured loans.
Download activity
Teacher guide
cfpb_building_block_activities_differentiating-secured-unsecured-loans_guide.pdf
Note: Please remember to consider your students’ accommodations and special needs to ensure that all students are able to participate in a meaningful way.