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

How can we be responsible users of loans?

Loan Basics What is it? How do they work? Are they necessary? 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

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

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

How can we be responsible users of loans?

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

Accessing Resources Log onto the class website: Go to Week 10 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

Complete journal reflection entry on loans Closure Complete journal reflection entry on loans