Affording College

Lessons on savings and banking basics, loans, and paying for college.

Lesson 1: Saving and Banking Basics

Students learn the importance of saving money as a means to achieve their goals and as a way to create security in the event of unexpected circumstances or emergencies. Students will determine what ‘stage of change’ they are in terms of savings. They will also explore the benefits of starting their savings plan early in order to save money for long-term goals, like financial well-being in retirement. We explore various banking products and services, such as savings accounts, checking accounts, CD’s, and money market accounts. They will identify ‘Signature Strengths’ (as outlined in the Financial Decision Making Using Your Strengths course) and strategies to transcend money scripts that may have a negative impact on their ability to save. They will also identify the best places to save money to achieve their goals and objectives.

Lesson 2: Loans

We delve further into different types of loans. Students examine how loans can help (or hinder) their financial goals, and learn how to shop around for the best loans. In some of the exercises associated with the lesson, students shop around for the best auto and home loans. We also examine predatory lending practices, such as pay-day lenders and check cashing operations.