Day 49

Lesson Objectives

  • Understand the important steps to follow when getting a bank loan
  • Demonstrate how to fill out a student loan application

Assignment CU4.1

  1. Inside of your Credit Unit folder, create a new folder titled Lesson 4.  All your tasks completed in Lesson 4 should be stored in this folder.

Assignment CU4.2

  1. How do loans work?  The first loan were going to look at is a student loan.  One of the best ways to determine what you qualify for in regards to student loan dollars is completing the FAFSA.  Watch the video below to identify the important steps that are advised for filling out this form.  Also note what things you may want to avoid.  
  2. In a paragraph, record the findings in a new Google Document titled Types of Loans-(Your Initials).
  3. Filling out the FAFSA
    • Using the data you collected about a college you would like to attend (Employment Unit, Lesson 2, My Education), use these instructions and a copy of the part to be filled out that will be handed to you from your teacher to complete the FAFSA form.  Assume you are graduating high school this year.
    • For any specific information you are unsure about, you are free to make some information up as long as it is school appropriate.  
    • Complete Steps 1 (except SSN and DL#), 3, 5, 6, and 7 with accurate information.  For Step 6, use the schools from your Employment Unit assignment My Education and use this school code link.  Put an X over Steps 2 and 4, as we will not be completing these sections due to the personal level of information they ask for.  
    • Hand the application in when you are finished.