Differentiating between secured and unsecured loans
Students explore characteristics of secured or unsecured types of credit by playing a sorting game.
Borrowers may receive different types of loans based on their credit history.
- 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?
- 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.
Note: Please remember to consider your students’ accommodations and special needs to ensure that all students are able to participate in a meaningful way.