Managing Credit Data Crunch

MATH: Mortgage Payments & Function Notation

In this activity, students will be able to:

  • Use the mortgage payment formula to practice using function notation, evaluating expressions, and order of operations.
  • Understand the pieces of a function in a real-world context.


Source: NGPF

MATH: The Cost of Minimum Payments

In this activity, students will be able to:

  • Calculate the interest accrued when paying minimum payments.
  • Explore how different monthly payment amounts will impact the total interest paid and balance remaining after 5 months on a $5000 debt with 25% APR.
  • Reflect on the additional interest costs associated with only paying the minimum payment on a credit card balance.


Source: NGPF

DATA CRUNCH: Visualizing U.S. Household Debt

In this activity, students will be able to:

  • Analyze a bar graph comparing the amount of debt held by each generation in 2019 and 2020


Source:

DATA CRUNCH: How “Credit Stressed” Are U.S. Consumers?

In this activity, students will be able to:

  • Analyze a stacked bar graph comparing the credit stress across the US and within five specific states.
  • Consider the causes and impacts of credit stress.


Source: Federal Reserve Bank of NY

DATA CRUNCH: How Did COVID-19 Impact Credit Scores?

In this activity, students will be able to:

  • Analyze changes in the share of borrows with poor credit scores between February and June 2020.
  • Make inferences about how COVID-19 relief programs impacted the credit scores of different borrowers.
  • Compare poor credit score rates for student loan borrowers and other borrower in different age ranges.


Source: The Urban Institute

DATA CRUNCH: How Do Credit Utilization Rates Vary by Credit Score?

In this activity, students will be able to:

  • Analyze a bar graph comparing the credit utilization within different credit score tiers.
  • Make inferences about how credit use impacts credit scores.


Source: CFPB

DATA CRUNCH: What Is the Average Credit Score by Age?

In this activity, students will be able to:

  • Analyze a simple bar graph of average credit score for different age groups to summarize the relationship between age and credit scores.
  • Consider how scaling a graph can be used to highlight particular trends.
  • Hypothesize how making credit scores accessible might impact consumers.


Source: Credit Karma

DATA CRUNCH: Who Gets Denied Credit?

In this activity, students will be able to:

  • Analyze a bar graph comparing the percentage of credit applicant who are denied, disaggregated by race and income.
  • Make an inference about the impact of racial inequities in credit approval.


Source: The Federal Reserve