General Financial Literacy
Strand 5 Standard 3
1 class periods of 45 minutes each
Pairs
Students will learn about two types of bankruptcy as well as why someone should file for bankruptcy. To accomplish this students will access their previous knowledge about bankruptcy as well as investigate data about bankruptcies in the United States. Finally, students will weigh the pros and cons of filing for bankruptcy.
Bankruptcy Infographic, Bankruptcy Worksheet, Computers, Pencils
This lesson allows students to explore the internet to understand the two types of bankruptcy. Students will write details of each type on a worksheet and then compare it with the infographic that has been created.
Students only need a basic understanding of debt and interest.
Students will be able to explain the reasons someone would file for bankruptcy. Students will also be able to recommend a type of bankruptcy based on a scenario.
Accommodations for students can include giving them websites that contain all the information necessary.
Possible extensions can include finding statistics about how many people in the United States (or in Utah) file for bankruptcy. Students can also list ways to avoid needing to file for bankruptcy.
The back of the student worksheet can be used as the assessment for this lesson.