See all 8th Grade Standards
Borrowing

Borrowing

Article • 15 min of learning
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Here's how Borrowing aligns with curriculum standards in Vermont. Use the filters to change the location, set of standards, and grade level.

Standards
Defined by Jump$tart National Standards in 2022 8th Grade and align with Borrowing
8-1a: Identify financial institutions and businesses that offer consumer credit.
8-2a: Describe how lenders advertise loan costs to potential borrowers.
8-3a: Describe the effect of higher interest rates and longer loan terms on the total cost of a loan.
8-4a: Explain why credit card interest rates tend to be higher than rates for secured loans, such as automobile loans.
8-6a: Explain why using credit to finance education and housing could be beneficial.
8-7a: Identify indicators that a person has accumulated too much debt.
8-1b: Compare lenders based on type of credit offered, interest rates, and fees.
8-3b: Compare the interest rate paid by a financial institution on savings accounts to the interest charged by the same institution on loans.
8-6b: Assess the benefits and costs of using credit to finance education and housing versus using credit to purchase food and clothing.
8-7b: Predict the possible consequences of having a lot of debt payments relative to income.
8-1c: Explain how market conditions impact interest rates.
8-3c: Explain how financial institutions get the money to pay interest to their customers who deposit money in savings accounts.