Lesson 3: Your Credit Score

Lesson 3: Your Credit Score

Learning Objective:

Students will be able to understand where American credit came from, how 

credit scores are calculated, and how personal decisions affect credit scores.

Jump$tart Standard: Managing credit:

8-5a. Identify the types of information contained in a credit report
12-8a. Identify the main factors that are included in credit score calculations 

SEL Competency: Responsible decision-making


Bell Ringer (5 min)

Pass out KWL charts as students arrive.

Say: What do you already know about how your credit score is calculated? Fill out the “K”—or “Know”—part of the KWL chart. It’s okay to be wrong. Just jot down your thoughts.

Call on a few students to share out.

Overview Videos (8-10 min)

Say: Let’s watch two short videos—about the history of American credit and what credit scores are all about. 

The first video is from 2013—as you watch, think about which stats you think have changed since then, and why. Also, does this video seem biased to you at all—and how can you tell? https://www.youtube.com/watch?v=88bCYyLAx3A

Call on 1-2 students.

Say: After watching this video, what questions do you have about how your credit score is calculated? Write down at least three questions you have in the “W”—or “Want”—column of your KWL chart.

Say: The second video we’re going to watch may answer some of your questions: https://www.foolproofme.org/videos/53-do-you-know-what-makes-up-your-credit-score?highlight=WyJjcmVkaXQiLCJjcmVkaXQncyIsInZpZGVvIiwidmlkZW8ncyJd

Group Work Time (15 min)

Make Kraft/poster paper and markers available and/or encourage students to represent their findings digitally.

Say: Now we’re going to break into small groups. There are three things we’ll be reading, but you—individually—will only read one. Your group, though, will read all three things.

Within your group, you can decide who will read what. In some cases, more than one person in your group will read the same thing. That’s ok, as long as your group winds up reading all three things. So for example, Jane might read X, Tomas might read Y, and Chris might read Z.

When you’re done, work together to share the key information you learned with the whole class. You might create a chart or poster—it’s up to you. Just remember that you’ll be sharing the key points from all three pieces. You’ll have 15 minutes to read the content and create what you’re going to share out. You’ll then have about 2-3 minutes per group to share the key points of what you learned with the class.

Say: BONUS OPPORTUNITY! If you get creative with how you present what you learned, I’ll add $25 to your Stash101 account!

Break the class into small groups to read all of the following content—ideally, there’ll be 3 or 6 students per group so each piece will be read by 1-2 group members. 

Circulate and assist during work time. When there are five minutes left, tell students so they’ll have time to finish their presentation content.

Group Share Out (12-15 min)

Have groups share their findings with the class. Note that there may be a lot of repetition since the groups read the same things, but repetition will help them learn and remember.

Exit Ticket (5 min)

Say: Take the last five minutes of class to fill out the “L”—or “Learn”—column of your KWL chart. Share what you learned about your credit score—this will be your exit ticket.