Borrowing Basics

An introduction to credit

90 -120  Minutes

By the end of this course, participants will understand How credit works, types of credit that are available, and if they are ready to apply for credit.  To achieve this objective, the participants will be able to:

  • Define “credit” and “loan”.
  • Distinguish between secured and unsecured loans.
  • Identify three types of loans.
  • Identify the costs associated with getting a loan.
  • Identify the factors lenders use to make loan decisions.
  • Explain why installment loans cost less than rent-to-own services.
  • Explain why it is important to be wary of rent-to-own, payday loan, and refund anticipation services.
  • Describe how to guard against predatory lending practices.

Contact your local branch to set up a Borrowing Basics class for your group, or fill out the form below.  Given the importance of face-to-face interaction for our classes, we offer these classes only in geographic proximity to our Vermont-based branch network.