Category: Credit Scores

Question of the Day: What’s the average credit score for Gen Z?

|
Aug 25, 2021
|
Question of the Day, Credit Scores
Answer: 674 Questions: Why are credit scores important? What factors affect one's credit score? Why do you think Gen Z may have low credit scores relative to older generations? What might be some of the reasons? Here's the ready-to-go slides for this Question of the Day that you can use in your classroom.   Behind the numbers (Experian):  "As Americans entered 2020, the economy—as measured by consumer confidence, spending, and stock market performance—was thriving....

What's New With Managing Credit (2021)

|
Aug 14, 2021
|
Credit Cards, Credit Reports, Credit Scores
Consumer debt rebounded in the second quarter of this year after falling off during the pandemic. Much of this recent activity was driven by mortgages. Credit card debt is up a bit, but still $140 billion below December 2019 levels. (Reuters) Many are still struggling to pay their balances, and have seen credit limits decreased and accounts closed. (ABC7news)   BNPL (Buy Now, Pay Later). With that as background, the credit management tool talked about most in the news in recent months has...

NGPF On-Demand: New Trends in Building Credit

|
Mar 01, 2021
|
Professional Development, Credit Scores, Current Events
NGPF On-Demand is a professional development opportunity that allows teachers to deepen their content knowledge on their own schedule and at their own pace. One of the 20 modules available is “New Trends in Building Credit”. This module dives into FinTech companies that have created access to credit without a credit score.    Here are some highlights from the module:  Share key takeaways of Buy Now, Pay Later platforms. Here is a peek at some of the responses:  ...

Podcasts In The Classroom: Score! Learn More About Credit

|
Jan 25, 2021
|
Podcasts, Credit Scores, Podcasts In The Classroom
After more than 400 teachers expressed interest in bringing podcasts into the classroom, we decided to build out a ready-to-use activity to fulfill that desire. This week's activity (you will be asked to Make a Copy when you click on the link) revolves around the topic of credit and has incorporated 2-3 minute audio excerpts from the NGPF Podcast. Students will have the option to listen to Demetria Gallegos (News Editor at the Wall Street Journal), Rod Griffin (Senior Director of Public...

Best of 2020: Most Visited NGPF Unit Pages

|
Dec 23, 2020
|
FinCap Friday, Credit Cards, Credit Reports, Investing, Math, Credit Scores, Savings, Paying for College
Our Unit Pages are the most visited pages on the NGPF website, which had over 5 million pageviews in 2020. Why are these pages so popular? Teachers tell us it's because they can see all NGPF resources on a given topic (unit) on ONE page. So, whether you are looking for 45 or 90 minute lessons or just individual resources (activities, projects, FinCap Fridays, questions of the day, case studies or math activities), you can find them on the unit page.  Here were the unit pages that...

My 9 Favorite Interactives to Teach Credit

|
Nov 18, 2020
|
Interactive, Credit Cards, Credit Scores
Here is my current ranked list of my favorite credit interactives that could be used in our Managing Credit or Types of Credit units.  #1 INTERACTIVE: Shady Sam: This is our existing companion handout to the engaging and easy to play credit game Shady Sam.  #2 INTERACTIVE: FICO Credit Scores: This is our existing virtual adaptation companion handout to the wildly popular FICO Credit Score Simulator.  #3 INTERACTIVE: Play the Credit-Score Game. We used pieces of the WSJ interactive...

EdPuzzle Thursday: Debt Collectors

|
Oct 28, 2020
|
EdPuzzle Thursday, Credit Reports, Credit Scores
EdPuzzle is a great platform to test for knowledge while students watch a video and learn remotely. We will be releasing new EdPuzzle videos here on the blog each week so that your students can answer questions that are directly embedded within engaging videos.  This week's EdPuzzle video titled "How to Deal with Debt Collectors" discusses the four levels of debt collections and strategies for getting out of debt at each level.    Interested in more EdPuzzle videos? Visit...

Question of the Day (Updated): Which credit score band has the highest percentage of people: 670-739, 740-799, 800-850?

|
Oct 26, 2020
|
Question of the Day, Credit Scores
Answer: 800-850 with 22.3% of people in that range Questions: What are some of the disadvantages of having a low credit score? What are some advantages of having a high credit score? Why do lenders use credit scores? How is this information helpful in running their business? What is your strategy to develop a high credit score?  Here's the ready-to-go slides for this Question of the Day that you can use in your classroom.   Behind the numbers (WalletHub): "The average credit...

Reading List for October 23-25

By
|
Oct 23, 2020
|
Financial Literacy, Economics, Credit Scores, Cryptocurrencies
Financial Health PRNewswire reports on an extensive three-part survey by Lending Tree and Stash to look at the financial health of people during the Covid-19 crisis. Here are the key findings: Due to the economic impact of the COVID-19 crisis, 1 in 4 people expect to retire later than anticipated. That's especially true for those who make less than $35,000 (34%) and Gen Xers (29%), as well as Latino (30%) and Black consumers (28%). People of color are facing heavy financial...

Virtual Adaptation - MOVE: Up and Down with Credit Scores

|
Sep 07, 2020
|
Teaching Remotely, Credit Scores
The original version of the activity  MOVE: Up and Down with Credit Scores encourages students to move around the classroom to kinesthetically model how financial decisions can impact their credit score. At a time where many schools have transitioned to offering synchronous and asynchronous learning and/or limited movement in the classroom, we’ve created an adaptation activity that may work for your current classroom environment.  PLAY: Guess My Credit Score is an adapted...

Question of the Day: Can you name one of the top five money mistakes that millennials made while in college?

|
Aug 23, 2020
|
Question of the Day, Paying for College, Credit Cards, Credit Scores
Answer: Questions: Given that the average college graduate leaves school with about $30,000 in debt, does it surprise you that 9 out of 10 who borrow don't understand the terms of their loans?  Which of the items above could be mistakes made by young people who don't go to college?  What concrete steps can you take to avoid making similar mistakes?  Click here for the ready-to-go slides for this Question of the Day that you can use in your classroom. Behind the numbers (College...

What's New With Managing Credit - 2020

By
|
Aug 06, 2020
|
Credit Reports, Credit Scores, Credit Cards
How is the pandemic impacting credit scores? For starters, 5 million student loan borrowers saw their credit scores drop after the CARES Act allowed (Federal) borrowers to defer payments with no interest and no penalty until September 30 (6 months). The loan servicers were supposed to report to the credit bureaus that $0 was owed and paid. Great Lakes reported only that payments were deferred, and several of the credit scoring agencies dinged the borrowers’ scores. Now they have to follow...

Virtual Adaptation - INTERACTIVE: Credit Across US Communities

|
Jul 06, 2020
|
Teaching Remotely, Credit Cards, Credit Scores
The activity INTERACTIVE: Credit Across US Communities allows students to use an online, interactive map tool to answer questions about credit usage around the United States. The interactive map designed by The Federal Reserve Bank of New York allows an opportunity for students to analyze data and learn more about communities' access to credit and credit stress levels.   At a time where many schools have transitioned to offering synchronous and asynchronous learning, we've listed some...

Reading List for the 4th of July weekend

By
|
Jul 03, 2020
|
Current Events, Economics, Investing, Personal Finance, Credit Scores
Here is your holiday weekend reading list—stay safe people!!!!   Economics The economy added 4.8 million jobs through the week of June 12, higher than expected. (CNN) (New York Magazine) There are several reasons we shouldn’t yet be celebrating: The economy is still down 14.7 million jobs         Another 1.4 million filed for unemployment last week Continuing unemployment claims are still at close to 20 million       ...

Question of the Day: How often do people check their credit scores?

|
Apr 29, 2020
|
Credit Scores, Question of the Day, Credit Reports
Answer: Every few months is the #1 answer. Questions:  Why is it a good idea to check your credit score and report on a regular basis? What are some of the repercussions of NOT checking your credit score regularly? Do you think that people who check their credit score on a regular basis tend to have higher scores? Your friend says “you only need to check your credit score just before you need to borrow money to buy a car or a house.” Do you agree or disagree with his...