Students experience an interactive adventure, explore the Military Lending Act (MLA), and use a loan calculator to understand the impacts of high-interest loans.
Spend (Budgeting, Buying things), Borrow (Getting loans, Managing credit)
JROTC/ROTC (Servicemembers), Math
High school (11-12)
75-90 minutes
Big idea
The Military Lending Act (MLA) provides key financial protections for active duty servicemembers.
Essential questions
- What rights are protected under the MLA?
- Why are MLA protections important?
- How can comparison shopping help with managing debt?
Objectives
- Understand protections provided under the MLA
- Describe how interest rates impact financial well-being
What students will do
- Complete an online, interactive adventure independently or as a group.
- Calculate monthly loan payments and total loan costs based on varying interest rates.
- Answer questions about the importance of financial protections.
Download activity
Teacher guide
cfpb_building_block_activities_MiMM_sonya-explains-Military-Lending-Act_guide.pdf
Student materials
cfpb_building_block_activities_MiMM_sonya-explains-Military-Lending-Act_worksheet.pdf
cfpb_military-lending-act-know-your-rights_handout.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.
