GED 2002 Lesson Plan 

Submitted by Michael Papaianni Arizona State Prison Complex –Eyman

 Area/Skill:  Math/ Reading

 Cognitive Skill Level: 6.8-8.0 (High Inter. Basic Ed.)                      

  Alignment to AZ Standards: Math- Ind. 1-j SV 7700 pare 23

                                          Reading- Indicator B-1 SVCT prep. pages 15-30

Activity Title:  Personal Loans                   -FDIC Financial Education Curriculum  

                                                                   “Loan To Own”

 Introduction:  It cost money to borrow money.  When you borrow money to buy something you apply for a Consumer Installment Loan (which includes car loans).

Main Activity:

 Allow students to complete the Before-the-Course part of the What Do You Know form.

  Discuss the different types of consumer installment loans and the proper consumer installment loan for various needs.  Have students differentiate between wants and needs according to their value judgments.

 Have students identify and define the types of loans of which they are familiar.  Refer to hand out of lending terms.  Differentiate between examples and definitions.  Using their copy of the “Loan To Own” take home Guide, have each student role play the selection and preparation of a loan request up to the initial interview stage.

Closure/Conclusion:  

Allow students to complete the After-The-Course What Do You Know form.          

Follow-up Lessons/Activities:  Compare the APRs of Banks, Credit Unions and other financial institutions.