Course Description
Objectives
- Investigate the connection between debt and credit.
- Investigate student loan repayment options and debt forgiveness programs.
- Analyze the connection between generational wealth, debt, credit, and the race wealth divide.
- Share knowledge of debt repayment strategies with friends and family who may feel overwhelmed by debt.
- Learn where, when, and how to access help from debtor’s anonymous (or other sources) if your debt is unmanageable.
• Identify and define the basic vocabulary related to debt; describe what debt it and how it is useful.
• List the common types of debt; list and explain the four categories of debt.
• Describe how debt works and the difference between compounding and simple interest.
• Identify and explain two popular strategies for managing debt.
• Explain what it means to leverage debt and the difference between loan consolidation and refinancing.
• Examine your own debt and identify the type of debt it is, the type of interest you have, and your current repayment strategy.
• Analyze and critique the type of debt you have and your current repayment strategy based on what you’ve learned in this video and the video on credit.
• Weigh your options regarding repayment, refinancing, and consolidation, as well as future spending.
• Design a plan of action to pay down debt and/or leverage debt.