I Owe You


Lesson Plans - The Learning Network
Lesson Plans - The Learning Network

Teaching ideas based on New York Times content.

Overview: In this lesson, students examine and learn the basics about credit cards and credit-card debt, then create an informational brochure for young students.


Sandhya Nankani, The New York Times Learning Network

Suggested Time Allowance: 1-2 class periods.

Activities / Procedures:

1. Warm-Up/Do Now:
Give students a copy of the handout “Extra Credit”, a True/False quiz which tests their background knowledge about credit cards and the credit card industry.
When students have completed the quiz, share the answers with them:
1) False 2) True 3) True; the specific number is 5.3 cards for the average American 4) False 5) False 6) True 7) True 8) True 9) False (there is no minimum age).
Use each statement on the quiz as a jumping-off point for a brief discussion about the credit-card system in America, and invite students to share observations and comments, as well as personal experiences with credit cards. Wrap up by telling students that they are going to be reading an article about the current credit crisis and both government and credit card companies responses to it. Given the current legislation being circulated through Congress, this topic is especially timely; check NYTimes.com for news updates.
As a class, read and discuss the article “Obama Seeks Action Against Credit Card Industry,” focusing on the following questions:
a. What is President Obama’s main complaint against the credit card industry? Highlight a telling quote in the article.
b. What would the bill that Senate and Congress are considering passing accomplish? Why is it important at this particular time?
c. What statistic in the article is most revealing or surprising to you, and why?
d. How does Ms. Lardner claim the credit card company deceived her?
e. Why do you think credit card companies would want to raise interest rates?
Distribute copies of the handout “In Search of Credit” to students. Divide the class into pairs or small groups and tell them that they are going to be engaging in an Internet scavenger hunt about the credit card industry so that they can become better acquainted with the world of credit cards and to enable them to become more educated consumers in the long-term, as well as to familiarize them with the connection between the economic crisis and credit cards.
The handout includes a list of Web sites that are helpful starting points for their research. Please see the “Resources” section below for more.
When students have completed the scavenger hunt, gather them together to discuss their findings. Have them compare their answers and encourage them to share their reactions to the activity. Ask: What have you learned about the credit card industry that you did not know before? Have you learned anything that you think will be useful in your own life? How, if at all, does this make you think differently about using or having a credit card? Do you think the recent advocacy and legislation is going to affect the way credit card companies do business and the way American consumers use credit cards and interact with debt, or is this just a passing phase?
Invite students to reflect on the statistics they uncovered during the research, and have them create a poster or graphic for the classroom that displays these statistics or illustrates the concept of personal debt.
Have students watch the video “Debt Trap: College Borrowing Catches Up.” Then, individually, they write, design and create an informational consumers’ guide to credit cards for college students. The guide should provide an overview of how credit cards work, red flags to watch out for, and an overview or glossary of key terms. These guides or brochures can be illustrated and distributed, perhaps through the school’s college or counseling office to graduating high school seniors or incoming college freshmen.
Among other resources, they may wish to consult the Times feature Credit and Debit Cards: What You Need To Know and Consumers Guide’s free report, “Building and Keeping Good Credit.”
Related Times Resources:


Comments are no longer being accepted.