Differentiating between secured and unsecured loans
Students explore characteristics of secured or unsecured types of credit by playing a sorting game.
Borrowers may qualify for different types of loans based on their creditworthiness.
How might a person’s credit habits and decisions influence their ability to borrow money?
What types of loans exist to 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 “Characteristics of secured and unsecured loans” game cards into two piles: secured and unsecured loans.
Work collaboratively to sort the “item” game cards to show which can likely be purchased with secured loans and which would likely need to be paid for 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.