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Deciphering Debt: A Financial Literacy Project
Grade 11Other1 days
The 'Deciphering Debt: A Financial Literacy Project' is designed for 11th-grade students to explore the concept of debt and its impact on individuals and society. Through inquiry and interactive activities such as escape rooms, Shark Tank challenges, and cultural comparisons, students will understand interest rates, credit history, and debt management strategies. The project aims to enhance financial literacy by encouraging critical thinking, problem-solving, and effective communication, preparing students to make informed financial decisions in a global context.Financial LiteracyDebt ManagementInterest RatesCultural PerspectivesInteractive LearningCritical ThinkingGlobal Economics
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Inquiry Framework
Question Framework
Driving Question
The overarching question that guides the entire project.How can an understanding of debt and its implications empower individuals to make informed financial decisions in a global context?Essential Questions
Supporting questions that break down major concepts.- What is the concept of debt and how does it affect individuals and societies?
- How do interest rates impact borrowing and debt repayment?
- What role does credit history play in an individual's financial opportunities and challenges?
- How can understanding debt management lead to better financial decisions?
- What are the potential risks and benefits associated with taking on debt?
- How does debt relate to overall economic systems and stability?
- What strategies can individuals use to manage and reduce personal debt?
- In what ways do cultural attitudes towards debt differ globally, and how do they influence financial behavior?
Standards & Learning Goals
Learning Goals
By the end of this project, students will be able to:- Students will understand the concept of debt and its impact on individuals and society.
- Students will analyze how interest rates affect borrowing and debt repayment.
- Students will explore the influence of credit history on financial opportunities and challenges.
- Students will identify strategies for effective debt management to improve financial decision-making.
- Students will assess the risks and benefits of taking on debt.
- Students will explore the relationship between debt and economic systems and stability.
- Students will compare cultural attitudes towards debt globally and their influence on financial behaviors.
Common Core Standards
CCSS.ELA-LITERACY.RI.11-12.1
Primary
Cite strong and thorough textual evidence to support analysis of what the text says explicitly as well as inferences drawn from the text.Reason: Analyzing texts related to financial concepts and understanding debt requires extracting and inferring information from various sources which aligns with citing textual evidence.
CCSS.MATH.CONTENT.HSA.SSE.A.1.B
Primary
Interpret complicated expressions by viewing one or more of their parts as a single entity.Reason: Understanding interest rates and financial calculations involves interpreting mathematical expressions and their components.
CCSS.ELA-LITERACY.SL.11-12.1
Secondary
Initiate and participate effectively in a range of collaborative discussions.Reason: Engaging in discussions about debt management and its implications requires collaborative dialogue and critical thinking skills.
Next Generation Science Standards
NGSS.SEP8
Secondary
Obtaining, evaluating, and communicating information.Reason: This project involves gathering data about debt, evaluating its implications, and effectively communicating findings, aligning with scientific practices.
Entry Events
Events that will be used to introduce the project to studentsDebt Diaries
Introduce students to personal stories of individuals from different backgrounds who have managed significant amounts of debt. Present these as video diaries, podcasts, or written narratives, and challenge students to identify common financial mistakes and strategies for overcoming debt. This would spark discussions on empathy, financial responsibility, and innovative problem-solving strategies students can relate to their own experiences or those close to them.Debt Escape Room
Create a virtual or physical escape room where students have to solve puzzles and complete tasks to get out of 'debt'. Each challenge represents a real-world obstacle or decision-making scenario regarding loans, interest rates, and repayment plans, encouraging students to use creativity to navigate financial traps.Shark Tank: Debt Edition
Organize a 'Shark Tank' style event where students pitch innovative solutions to common debt problems or present cases of debt management plans. This format not only captures attention but ties directly into entrepreneurial skills and practical application of debt management strategies.Inflation Investigation
Present a sudden 'news alert' describing a dramatic change in economic conditions affecting debt and requiring immediate action. Students act as economic advisors who need to investigate the trends, analyze the impact, and propose strategies to mitigate the effects. This scenario relates to real-world financial crises which students may have seen in current events.Life in Debt Simulation
Launch an interactive simulation where students take on different personas with varying income levels, debts, and life goals. They must navigate through life events such as job loss or medical emergencies that affect their financial outlook, engaging them in decision-making and forecasting exercises that challenge conventional thinking about living with debt.📚
Portfolio Activities
Portfolio Activities
These activities progressively build towards your learning goals, with each submission contributing to the student's final portfolio.Activity 1
Debt Detective: Personal Stories Analysis
Students analyze personal stories about managing debt, identifying financial mistakes and strategies. This activity builds foundational understanding by engaging empathy and critical analysis of real-world scenarios.Steps
Here is some basic scaffolding to help students complete the activity.1. Watch or read provided video diaries, podcasts, or narratives of individuals managing debt.
2. Identify and take notes on common themes, mistakes, and strategies mentioned in the stories.
3. Write a reflective paragraph about how these stories change or confirm students' understanding of debt.
Final Product
What students will submit as the final product of the activityA reflective paragraph analyzing personal stories about debt management.Alignment
How this activity aligns with the learning objectives & standardsAligns with CCSS.ELA-LITERACY.RI.11-12.1 by requiring students to cite evidence from texts and make inferences.Activity 2
Escape the Debt Maze: Problem-Solving
Through an escape room activity, students engage with decision-making scenarios involving loans, interest rates, and repayment plans. This builds problem-solving skills by simulating financial traps and challenges.Steps
Here is some basic scaffolding to help students complete the activity.1. Interact with virtual or physical escape room tasks focused on navigating loans and financial constraints.
2. Solve puzzles that represent real-world financial obstacles, such as decision-making scenarios about interest rates.
3. Complete the escape room by 'escaping debt' through strategic financial decisions.
Final Product
What students will submit as the final product of the activityCompleted escape room reflection, discussing challenges and strategies used.Alignment
How this activity aligns with the learning objectives & standardsSupports CCSS.MATH.CONTENT.HSA.SSE.A.1.B by interpreting financial expressions and scenarios.Activity 3
Debt Solutions Pitch: Shark Tank Challenge
Students pitch innovative debt solutions or management plans in a 'Shark Tank' style format. This develops presentation and entrepreneurship skills while applying debt management strategies.Steps
Here is some basic scaffolding to help students complete the activity.1. Research and brainstorm innovative solutions to common debt problems.
2. Develop a pitch that outlines the problem, solution, and benefits of the debt management plan or solution.
3. Present the pitch to classmates, acting as 'Sharks' offering feedback and investment.
Final Product
What students will submit as the final product of the activityA debt solution pitch presentation.Alignment
How this activity aligns with the learning objectives & standardsAligns with CCSS.ELA-LITERACY.SL.11-12.1 through engaging in collaborative discussions and presentations.Activity 4
Economic Advisor Report: Inflation Impact
In this activity, students act as economic advisors assessing a hypothetical economic crisis's impact on debt. They propose solutions, enhancing their analytical and strategic thinking in real-world contexts.Steps
Here is some basic scaffolding to help students complete the activity.1. Receive a 'news alert' about a significant economic change affecting debt.
2. Conduct research and analysis on the potential impact and formulate strategies for mitigation.
3. Compile findings and proposals in a report on how to mitigate the economic crisis's effects on debt.
Final Product
What students will submit as the final product of the activityAn economic advisor report on the impact of economic changes on debt.Alignment
How this activity aligns with the learning objectives & standardsFollow NGSS.SEP8, focusing on obtaining, evaluating, and communicating information.Activity 5
Cultural Debt Attitudes: A Global Perspective
Students investigate different cultural attitudes towards debt, comparing global financial behaviors. This activity develops research and comparative analysis skills, expanding global financial literacy.Steps
Here is some basic scaffolding to help students complete the activity.1. Research various cultural perspectives on debt, focusing on selected countries or regions.
2. Compare and contrast the research findings, highlighting differences in attitudes and financial behaviors.
3. Create a visual or written presentation to share findings with the class.
Final Product
What students will submit as the final product of the activityA presentation comparing global cultural attitudes towards debt.Alignment
How this activity aligns with the learning objectives & standardsCovers understanding debt impact individually and globally, aligning with CCSS.ELA-LITERACY.RI.11-12.1 and secondary learning goals.🏆
Rubric & Reflection
Portfolio Rubric
Grading criteria for assessing the overall project portfolioFinancial Literacy and Debt Understanding Rubric
Category 1
Textual Evidence and Analysis
Assessment of student ability to cite evidence from texts, analyze narratives, and make inferences about debt management.Criterion 1
Citing Textual Evidence
Student's ability to extract and cite relevant evidence from provided texts to support their analysis of debt.
Exemplary
4 PointsProvides comprehensive and well-integrated textual evidence demonstrating a deep understanding of debt concepts, with multiple examples and detailed inferences.
Proficient
3 PointsCites relevant textual evidence clearly and efficiently to support analysis, demonstrating a solid understanding of debt.
Developing
2 PointsProvides some textual evidence but lacks depth and thoroughness in supporting analysis, indicating emerging understanding.
Beginning
1 PointsStruggles to cite relevant evidence, with minimal understanding and engagement with text regarding debt concepts.
Criterion 2
Analytical Reflection
Student's reflective analysis on personal narratives about debt, showing empathy, understanding, and critical thinking.
Exemplary
4 PointsReflective writing demonstrates insightful analysis, connects personal and societal impacts of debt, and offers nuanced perspectives.
Proficient
3 PointsProvides strong reflective analysis that connects personal learnings with broader debt concepts and implications.
Developing
2 PointsOffers basic reflection with limited connection to broader debt implications, showing developing insight.
Beginning
1 PointsMinimal reflection with superficial analysis and little connection to broader implications of debt.
Category 2
Problem Solving and Decision Making
Assessment of student capabilities to engage in problem-solving and decision-making in financial contexts via interactive activities.Criterion 1
Strategic Decision Making
Student's ability to develop and implement strategic financial decisions in interactive scenarios like the escape room.
Exemplary
4 PointsExhibits exceptional strategic thinking with innovative and well-defined financial decisions, overcoming complex tasks with creativity.
Proficient
3 PointsShows effective strategic decision-making in overcoming challenges using appropriate financial strategies.
Developing
2 PointsDemonstrates emerging strategic thinking with basic decision-making skills in financial contexts.
Beginning
1 PointsStruggles with strategic decision-making, showing minimal understanding of financial strategies or contexts.
Category 3
Presentation and Communication Skills
Evaluation of student's ability to effectively communicate financial ideas and solutions through presentation and collaboration.Criterion 1
Clarity and Coherence
Student's ability to clearly articulate financial concepts and strategies, ensuring coherence in presentations and discussions.
Exemplary
4 PointsCommunicates financial concepts with exceptional clarity and coherence, demonstrating sophisticated understanding and engaging delivery.
Proficient
3 PointsEffectively communicates financial ideas with clear articulation, logical structure, and engaging presentation.
Developing
2 PointsCommunicates basic financial ideas with some clarity but occasional lapses in coherence and engagement.
Beginning
1 PointsStruggles to clearly communicate financial ideas, with noticeable lapses in coherence and engagement in presentation.
Criterion 2
Collaborative Engagement
Student's ability to engage collaboratively during presentations and discussions, demonstrating teamwork and listening skills.
Exemplary
4 PointsDemonstrates leadership and active collaboration, encouraging constructive dialogue and diverse perspectives in discussions.
Proficient
3 PointsCollaborates effectively with peers, contributing constructively to discussions and demonstrating strong listening skills.
Developing
2 PointsShows basic collaborative skills with occasional contributions and listening during discussions, requiring further development.
Beginning
1 PointsMinimal engagement in collaborative settings, struggling to listen or contribute effectively to discussions.
Reflection Prompts
End-of-project reflection questions to get students to think about their learningQuestion 1
Reflect on how your understanding of debt has changed throughout this unit. Include specific insights gained from the portfolio activities, such as the Debt Detective stories or the Escape the Debt Maze challenges.
Text
Required
Question 2
On a scale from 1 to 5, how confident do you feel in managing personal debt after engaging in this unit's activities?
Scale
Required
Question 3
Which activity or concept from this unit did you find most impactful in understanding debt, and why?
Text
Required
Question 4
Based on what you learned, which debt management strategy would you be most likely to implement in your personal life?
Multiple choice
Required
Options
Creating a budget plan
Using a debt Snowball strategy
Negotiating for lower interest rates
Regular monitoring of credit reports
Question 5
Reflect on how participating in the Shark Tank Challenge or Cultural Debt Attitudes project has altered your perspective on global financial behaviors.
Text
Optional