Skip to content
PlayOwl

History, Civics & Social Studies · Grade 8

Borrowing, Interest and Credit Concepts

Borrowing lets people buy now and pay later, at a price. With fictional loans and cards, learners calculate interest and total cost, see why paying only a small fixed amount on a credit card can take years, follow how loan payments split between interest and principal, compare offers by APR and total cost, learn the factor categories behind credit reports and scores, and recognize red flags of high-cost and predatory lending. No lenders or products are recommended.

  • 4 lessons
  • About 125 minutes
  • Credit concepts check: 9 questions
  • Ways to answer: fill in the blanks, choose an answer, estimate, highlight a text, match pairs and type a number
Try it now (no account) One of the five free starter courses Open in PlayOwl

What learners will discover

  • Explain principal, interest, APR and term, and calculate the total cost of a loan.
  • Analyze how credit card interest and small payments affect repayment time and total cost.
  • Explain amortization and compare loan offers using APR, fees, term and total cost.
  • Describe what credit reports and scores measure and identify red flags of high-cost lending.

Lessons

  1. Loan basics 4 steps3 practiceabout 30 min
  2. Credit cards and small payments 4 steps3 practiceabout 32 min
  3. Amortization and comparing offers 5 steps3 practiceabout 31 min
  4. Credit reports, scores and red flags 5 steps4 practiceabout 32 min
  5. Credit concepts check 9 questions at the end

Keep exploring

More 8th grade social studies

Guide for grown-ups