NBEA Personal Finance Standards

NBEA Personal Finance Standards Alignment

Find out which of our lessons or games reinforce the individual
knowledge statements from the NBEA Personal Finance Standards.

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Long-Term Game
Comprehensive Chapter
Short Lesson
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Includes Automatically-Graded Assessment

Standard	Activity
Personal Decision-Making
Define and give examples of economic wants.	Budget Game – Core Component Lesson – Pay Yourself First: A Simple Yet Powerful Way to Build Wealth Lesson – Achieve Financial Goals with a Spending Plan
Explain how every individual defines wants and needs differently.	Budget Game – Core Component Lesson – Pay Yourself First: A Simple Yet Powerful Way to Build Wealth Lesson – Achieve Financial Goals with a Spending Plan
Apply opportunity costs and trade-offs to personal decision making.	Budget Game – Core Component Lesson – Pay Yourself First: A Simple Yet Powerful Way to Build Wealth Lesson – Achieve Financial Goals with a Spending Plan
Apply the steps in a rational decision-making process to a situation involving an economic decision by an individual.	Budget Game – Core Component Lesson – Pay Yourself First: A Simple Yet Powerful Way to Build Wealth Lesson – Achieve Financial Goals with a Spending Plan Lesson – Proven Techniques to Stop Overspending
Recognize the consequences of economic choices.	Budget Game – Core Component Lesson – Pay Yourself First: A Simple Yet Powerful Way to Build Wealth Lesson – Achieve Financial Goals with a Spending Plan
Differentiate between types of decisions and identify those for which a formal decision-making process should be used.	Lesson – How Do You Stop Impulse Purchases? Lesson – Pay Yourself First: A Simple Yet Powerful Way to Build Wealth Lesson – How to Prepare for Unexpected Expenses
Apply the decision-making process to various types of decisions at different stages of the life cycle.	Budget Game – Core Component Stock Game – Core Component Lesson – Evaluating Big-Ticket Purchases Lesson – The Cost of Raising a Family
Apply the concept of marginalism (e.g., marginal utility) to choice making.	Budget Game – Core Component Lesson – What is Opportunity Cost? Lesson – A Strategy to Build Wealth, Not Debt
Analyze the effect of leading economic indicators on a personal financial plan.	Lesson – The Business Cycle Lesson – Demystifying the Impact of Interest Rates Lesson – Inflation
Analyze how ethics affect business and personal financial management decisions.	Lesson – Protect Yourself as a Consumer Lesson – Why You Buy What You Buy Lesson – Ethics In Marketing
Examine the impact of advertising, peer pressure, and family history on personal financial decisions.	Budget Game – Core Component Lesson – Achieve Financial Goals with a Spending Plan
Earning and Reporting Income
Identify various ways people earn a living.	Lesson – What’s in Your Compensation Package?
Differentiate between earned and unearned income.	Budget Game – Core Component Lesson – What’s in Your Compensation Package?
Distinguish between income and wealth.	Budget Game – Core Component Lesson – What’s in Your Compensation Package? Lesson – A Strategy to Build Wealth, Not Debt Lesson – What is Money?
Identify sources of unearned income (e.g., transfer payments and gifts).	Lesson – What’s in Your Compensation Package? Lesson – Tax Basics You Need to Know
Explain how types and availability of jobs are determined primarily by consumer demand in the market-oriented economy of the United States.	Lesson – Planning Your Career Path Lesson – Starting a Business 101 Lesson – Biggest Mistakes of Job Seekers
Discuss how personal choices concerning human capital (e.g., experiences, technology, education/training, and other factors) influence income.	Budget Game – Core Component Lesson – What’s in Your Compensation Package? Lesson – Planning Your Career Path
Analyze the characteristics and requirements of occupations of interest, including entrepreneurial opportunities.	Lesson – What’s in Your Compensation Package? Lesson – Planning Your Career Path Lesson – Staring a Business Lesson – Go to College or Start Working?
Differentiate between gross and net income.	Budget Game – Core Component Lesson – Income Tax Filing Tips and Tricks
Identify benefits as a component of total income.	Lesson – What’s in Your Compensation Package?
Explain the various types of taxes and their impact on purchasing power.	Lesson – Tax Basics You Need to Know Lesson – Income Tax Filing Tips and Tricks
Identify types of income other than wages (e.g., interest, rent, and profit) that people earn from their resources.	Lesson – Tax Basics You Need to Know Lesson – Income Tax Filing Tips and Tricks Lesson – Evaluating Big-Ticket Purchases Lesson – The Secret to a Comfortable Retirement
Discuss how actors affect income from employment such as supply and demand, geographic location, level of education, type of industry, union membership, productivity, skill level, and work ethic.	Lesson – What’s in Your Compensation Package? Lesson – Planning Your Career Path Lesson – Staring a Business Lesson – Go to College or Start Working? Lesson – Why Do Some Jobs Pay More Than Others?
Analyze the impact of sociological, economic, and technological changes on future jobs.	Lesson – Why Do Some Jobs Pay More Than Others? Lesson – The Business Cycle
Compare compensation packages that include varying levels of wages and benefits.	Lesson – What’s in Your Compensation Package?
Analyze how career choice, education, and skill affect income and goal attainment.	Lesson – What’s in Your Compensation Package? Lesson – Planning Your Career Path Lesson – The Secret to a Comfortable Retirement Lesson – Evaluating Big-Ticket Purchases
Describe the different types of taxes (e.g., progressive, regressive, and proportional) and how they can impact disposable income.	Lesson – Tax Basics You Need to Know Lesson – Income Tax Filing Tips and Tricks Lesson – Sales Tax: Who Pays, Collects, and Why?
Explore potential tax deductions and credits on a tax return.	Lesson – Tax Credits & Deductions You Need to Know
Calculate personal tax liabilities for various types of taxes (e.g., property, income, sales, FICA, and Medicare).	Lesson – Income Tax Filing Tips and Tricks
Explain the impact of taxes on personal financial planning.	Lesson – Tax Basics You Need to Know
Calculate net pay.	Budget Game – Core Component Lesson – Income Tax Filing Tips and Tricks
Investigate employee benefits and incentives.	Lesson – The Ultimate Employee Guide Lesson – What’s in Your Compensation Package?
Describe information and required forms relevant to the completion of state and federal income tax forms.	Lesson – Income Tax Filing Tips and Tricks
Managing Finances and Budgeting
Identify examples of short-term and long-term goals.	Lesson – Pay Yourself First: A Simple Yet Powerful Way to Build Wealth Planning Long Term Purchases Lesson – The Cost of Raising a Family Lesson – The Secret to a Comfortable Retirement
Identify various sources of income for personal spending.	Budget Game – Core Component Lesson – Achieve Financial Goals with a Spending Plan Lesson – Proven Techniques to Stop Overspending
Identify ways in which individuals and families obtain financial resources.	Lesson – The Anatomy of Unemployment Lesson – Protect Yourself as a Consumer Lesson – Do You Need a Tax Professional? Lesson – Getting Help With Debt Repayment
Define fixed and variable expenses.	Budget Game – Core Component Lesson – Achieve Financial Goals with a Spending Plan
Categorize expenses as fixed or variable.	Budget Game – Core Component Lesson – Achieve Financial Goals with a Spending Plan
Classify periodic expenses as fixed or variable.	Budget Game – Core Component Lesson – Achieve Financial Goals with a Spending Plan
Determine discretionary income in a spending plan.	Budget Game – Core Component Lesson – Achieve Financial Goals with a Spending Plan Lesson – Proven Techniques to Stop Overspending
Evaluate a personal spending plan for consumer spending to determine individual financial goals.	Budget Game – Core Component Lesson – Achieve Financial Goals with a Spending Plan Lesson – Proven Techniques to Stop Overspending
Construct and use a personal spending/savings plan and evaluate it according to short- and long-term goals.	Budget Game – Core Component Lesson – Achieve Financial Goals with a Spending Plan Lesson – Proven Techniques to Stop Overspending Lesson – The Secret to a Comfortable Retirement Lesson – Evaluating Big-Ticket Purchases
Discuss reasons why income and spending patterns change throughout the life cycle for the typical person and family.	Lesson – The Cost of Raising a Family Lesson – Analyzing Consumer Behavior
Illustrate how income and spending patterns change through the life cycle for the typical person and family.	Lesson – The Cost of Raising a Family Lesson – Analyzing Consumer Behavior
Saving and Investing
Describe motivations for saving and the means by which they save.	Budget Game – Core Component Lesson – Achieve Financial Goals with a Spending Plan Lesson – A Strategy to Build Wealth, Not Debt Lesson – The Secret to a Comfortable Retirement
Identify the opportunity costs of saving.	Budget Game – Core Component Lesson – Lesson – Break Free From Money Stress with a Budget
Differentiate between saving and investing.	Budget Game – Core Component Stock Game – Core Component Lesson – A Strategy to Build Wealth, Not Debt Lesson – How to Develop an Investing Strategy
Compare simple and compound interest.	Lesson – Demystifying the Impact of Interest Rates Activity – Watch How Your Savings Could Grow
Describe the advantages and disadvantages of various savings and investing plans.	Lesson – How to Develop an Investing Strategy Lesson – Achieve Financial Goals with a Spending Plan
Describe how financial institutions use funds deposited as savings and/or investment by customers.	Lesson – Choosing the Best Banking Option for You
Identify the risk/return trade-offs for saving and investing.	Budget Game – Core Component Stock Game – Core Component Lesson – Knowing Your Risks and Risk Tolerance Lesson – How to Develop an Investing Strategy Activity – Model Your Financial Future
Analyze the power of compounding and the importance of starting early in implementing a plan of saving and investing.	Activity – Watch How Your Savings Could Grow Activity – Crack the Code to Becoming a Millionaire
Apply criteria for choosing a savings or investment instrument (e.g., market risk, inflation risk, interest rate risk, political risk, liquidity, and minimum amount needed for investment).	Lesson – Knowing Your Risks and Risk Tolerance Lesson – How to Develop an Investing Strategy Lesson – Inflation Lesson – The Business Cycle
Distinguish between the rights and responsibilities of owners of debt and equity investments.	Lesson – Getting Started with Bond Investing Lesson – A Beginner’s Guide to Investing in Stocks Lesson – What Is Bankruptcy?
Explain why individuals should change their savings and investing plans throughout their life cycles.	Investing101 Certification Lesson – How to Develop an Investing Strategy Lesson – The Secret to a Comfortable Retirement Lesson – The Cost of Raising a Family
Differentiate between interest, dividends, capital gains, and rent from property.	Lesson – How to Develop an Investing Strategy Lesson – What’s in Your Compensation Package? Lesson – Tax Basics You Need to Know
Describe how saving and investing influence economic growth (capital formation).	Budget Game – Core Component Stock Game – Core Component Activity – Model Your Financial Future Lesson – A Strategy to Build Wealth, Not Debt
Evaluate the tax incentives available for certain investments.	Lesson – Tax Basics You Need to Know Lesson – The Secret to a Comfortable Retirement
Identify costs for investments.	Lesson – Tax Basics You Need to Know Lesson – Uncovering Hidden Income Taxes You Owe
Identify income sources for investments.	Lesson – How to Develop an Investing Strategy
Examine the role of saving and investing in creating a financial plan.	Budget Game – Core Component Lesson – Lesson – Break Free From Money Stress with a Budget Lesson – Pay Yourself First: A Simple Yet Powerful Way to Build Wealth
Develop financial goals for the future based on one’s lifestyle expectations and career choices.	Lesson – The Secret to a Comfortable Retirement Lesson – Planning Your Career Path Lesson – The Cost of Raising a Family
Contrast the impact of simple interest vs. compound interest on savings.	Activity – Watch How Your Savings Could Grow Lesson – Demystifying the Impact of Interest Rates
Explain how and why the stock market functions.	Stock Game – Core Component Lesson – What is the New York Stock Exchange?
Examine the fundamental workings of the Social Security System and the system’s effects on retirement planning.	Lesson – The Secret to a Comfortable Retirement Lesson – The Anatomy of Unemployment
Apply the concept of Time Value of Money.	Lesson – Time Value of Money
Buying Goods and Services
Apply a rational decision-making process to personal buying decisions.	Budget Game – Core Component Lesson – Proven Techniques to Stop Overspending Lesson – Achieve Financial Goals with a Spending Plan
Distinguish between goods and services.	Budget Game – Core Component Lesson – Why You Buy What You Buy
Apply comparison shopping practices.	Lesson – How Do You Stop Impulse Purchases?
Identify alternative sources for purchases (e.g., e-malls, retail stores, and catalogs).	Lesson – How Do You Stop Impulse Purchases?
Identify laws that protect the rights of the consumer.	Lesson – Protect Yourself as a Consumer
Discuss various ways competition among sellers benefits the consumer.	Lesson – Benefits of Competition
Describe reasons and research why there are variances in price for a given item purchased from different providers.	Lesson – Supply and Demand Examples in the Stock Market
Use reliable consumer resources to collect information for making buying decisions about durable and nondurable goods.	Lesson – How Do You Stop Impulse Purchases?
Describe consumer rights, responsibilities, and remedies, giving examples of each.	Lesson – Protect Yourself as a Consumer
Compare the costs and benefits of purchasing, leasing, and renting.	Activity – Calculate Your Car Loan Payments Activity – Rent or Buy: Which is Right for You? Activity – Find Out Your Monthly Home Budget Lesson – Mortgage Options for First-Time Homebuyers Lesson – The Car Buying Checklist
“Describe consumer assistance services provided by public and private organizations (e.g., government, the Better Business Bureau, and manufacturers).”	Lesson – Protect Yourself as a Consumer
Examine the impact of advertising and marketing on consumer demand and decision making in the global marketplace.	Lesson – Achieve Financial Goals with a Spending Plan
Research consumer advocacy groups that address consumer rights and responsibilities and describe how an individual can participate.	Lesson – Protect Yourself as a Consumer
Calculate the costs of utilities, services, maintenance, and other expenses involved in independent living.	Budget Game – Core Component
Describe the role that supply and demand and market structure play in determining the availability and price of goods and services	Lesson – Supply and Demand Examples in the Stock Market
Explain how a consumer can identify and report fraudulent behavior and practice.	Lesson – How to Avoid Identity Theft, Scams and Fraud
Banking and Financial Institutions
Identify various types of financial institutions.	Lesson – Choosing the Best Banking Option for You
List the basic products and services provided by financial institutions (e.g., savings, checking, credit cards, loans, safe deposit boxes).	Lesson – Choosing the Best Banking Option for You
Identify the rights and responsibilities associated with using a checking account.	Lesson – Choosing the Best Banking Option for You
Describe the steps involved in opening and using a checking account.	Lesson – Choosing the Best Banking Option for You Lesson – What is Money?
Compare and contrast the different types of checking accounts offered by various financial institutions.	Lesson – Choosing the Best Banking Option for You
Differentiate among types of electronic monetary transactions (e.g., debit cards, ATM, and automatic deposits/payments offered by various financial institutions.	Lesson – What is Money? Lesson – How Debit Cards Work Lesson – Credit Cards: Terms, Fees, and More
Identify new and emerging methods of transferring money (e.g., PayPal, Zello, Venmo, ApplePay) and how they affect financial institutions.	Lesson – What is Money?
Identify other means of transferring funds (e.g., money orders and certified checks).	Lesson – What is Money?
Evaluate products and services and related costs and fees associated with financial institutions in terms of personal banking needs.	Lesson – Choosing the Best Banking Option for You Lesson – What is Money?
Describe and demonstrate the steps involved in the bank reconciliation process.	Lesson – Balance Your Books in 10-Minutes
Compare costs and benefits of online and traditional banking.	Lesson – Choosing the Best Banking Option for You Lesson – What is Money? Lesson – Credit Cards: Terms, Fees, and More
Analyze privacy and security issues associated with financial transactions.	Lesson – Knowing Your Risks and Risk Tolerance Lesson – How to Avoid Identity Theft, Scams and Fraud
Explain how certain historical events (e.g., the Depression, 1980s savings and loan crisis, September 11, housing market crisis of 2008, and the health pandemic of 2020) have influenced the banking system and other financial institutions.	Lesson – Could the 1929 Crash Happen Again?
Identify the functions of the Federal Reserve System.	Lesson – Why You Should Care About the Fed
Lesson – A Beginner’s Guide to Borrowing Wisely
Explain when and why borrowing is used for the purchase of goods and services.	Budget Game – Core Component Lesson – A Beginner’s Guide to Borrowing Wisely Lesson – How to Use Debt to Your Advantage
Describe the risks and responsibilities associated with using credit.	Lesson – A Beginner’s Guide to Borrowing Wisely Lesson – Credit Cards: Terms, Fees, and More Lesson – How to Use Debt to Your Advantage
Identify the opportunity cost of credit decisions.	Lesson – How to Use Debt to Your Advantage Lesson – How Borrowers Manage Personal Debt
Identify methods of establishing and maintaining a good credit rating.	Budget Game – Core Component Lesson – What Your Credit Report Says About You
Determine advantages and disadvantages of using credit.	Budget Game – Core Component Lesson – What Your Credit Report Says About You Lesson – A Beginner’s Guide to Borrowing Wisely
Describe the process to establish credit.	Budget Game – Core Component Lesson – What Your Credit Report Says About You Lesson – A Beginner’s Guide to Borrowing Wisely
Evaluate the various methods of financing a purchase.	Lesson – What to Do When You Need Money Fast
Define interest as a cost of credit and explain why it is charged.	Lesson – A Beginner’s Guide to Borrowing Wisely Lesson – Credit Cards: Terms, Fees, and More Lesson – Demystifying the Impact of Interest Rates
Analyze credit card features and their impact on personal financial planning.	Lesson – Credit Cards: Terms, Fees, and More Lesson – A Beginner’s Guide to Borrowing Wisely
Explain how the amount of principal, the period of the loan, and the interest rate affect the amount of interest charged.	Lesson – Credit Cards: Terms, Fees, and More Lesson – A Beginner’s Guide to Borrowing Wisely
Explain why the interest rate varies with the amount of assumed risk.	Lesson – A Beginner’s Guide to Borrowing Wisely Lesson – Credit Cards: Terms, Fees, and More Lesson – Demystifying the Impact of Interest Rates
Explain the need for a sound credit rating.	Lesson – What Your Credit Report Says About You Lesson – Mortgage Options for First-Time Homebuyers
Calculate a payment schedule for a loan.	Activity – Calculate the True Cost of Credit Card Debt
Calculate interest based on various calculation methods.	Activity – Calculate the True Cost of Credit Card Debt Activity – Calculate Your Car Loan Payments Activity – Watch How Your Savings Could Grow
Describe how to improve one’s credit score.	Budget Game – Core Component Lesson – What Your Credit Report Says About You Lesson – A Beginner’s Guide to Borrowing Wisely
Analyze various sources and types of credit (e.g., shortand long-term) and related costs.	Lesson – How to Use Debt to Your Advantage Lesson – What to Do When You Need Money Fast
Select an appropriate form of credit for a particular buying decision.	Lesson – How Borrowers Manage Personal Debt Lesson – Mortgage Options for First-Time Homebuyers Lesson – How to Use Debt to Your Advantage Activity – Rent or Buy: Which is Right for You?
Compare and contrast the various aspects of credit (e.g., APR, grace period, incentive buying, methods of calculating interest, and fees).	Lesson – A Beginner’s Guide to Borrowing Wisely Lesson – Credit Cards: Terms, Fees, and More Lesson – Mortgage Options for First-Time Homebuyers
Explain credit ratings and credit reports and describe why they are important to consumers.	Lesson – What Your Credit Report Says About You Lesson – Mortgage Options for First-Time Homebuyers
Describe the relationship between a credit rating and the cost of credit.	Lesson – What Your Credit Report Says About You
Identify strategies for effective debt management.	Lesson – How Borrowers Manage Personal Debt
Analyze the sources of assistance for debt management.	Lesson – Getting Help With Debt Repayment Lesson – Debt Relief: Is Consolidation the Answer?
Research rights and responsibilities of consumers according to credit legislation (e.g., truth-in-lending, fair credit reporting, equal credit opportunity, and fair debt collection).	Lesson – Credit Cards: Terms, Fees, and More
Compare the legal aspects of different forms of credit (e.g., title transfer, responsibility limits, collateral requirements, and co-signing).	Lesson – A Beginner’s Guide to Borrowing Wisely
Explain the implications of foreclosure and bankruptcy.	Lesson – What Is Bankruptcy?
Protecting Against Risk
Identify risks in life and how to gain protection against the consequences of risk.	Lesson – What’s Not Covered in Renter’s Insurance? Lesson – Car Insurance: How to Lower Your Rates Lesson – Why Health Insurance is So Expensive
Define basic insurance terms (e.g., deductible, premium, peril, risk).	Lesson – What’s Not Covered in Renter’s Insurance? Lesson – Car Insurance: How to Lower Your Rates Lesson – Why Health Insurance is So Expensive
Explain how all types of insurance are based on the concept of risk sharing and statistical probability.	Lesson – What’s Not Covered in Renter’s Insurance? Lesson – Car Insurance: How to Lower Your Rates Lesson – Why Health Insurance is So Expensive Lesson – Life Insurance: The Ultimate Safety Net
Evaluate insurance as a risk management strategy.	Lesson – Life Insurance: The Ultimate Safety Net Lesson – Knowing Your Risks and Risk Tolerance Lesson – Car Insurance: How to Lower Your Rates
“Identify the type of insurance associated with different types of risk (e.g., automobile, personal and professional liability, home and apartment, health, life, long-term care, disability).”	Lesson – What’s Not Covered in Renter’s Insurance? Lesson – Car Insurance: How to Lower Your Rates Lesson – Why Health Insurance is So Expensive Lesson – Life Insurance: The Ultimate Safety Net Lesson – What Damage Does Home Insurance Cover?
Explain why insurance needs change throughout the life cycle.	Lesson – What’s Not Covered in Renter’s Insurance? Lesson – Car Insurance: How to Lower Your Rates Lesson – Why Health Insurance is So Expensive Lesson – Life Insurance: The Ultimate Safety Net Lesson – What Damage Does Home Insurance Cover?
Identify various suppliers of insurance (e.g., public and private).	Lesson – What’s Not Covered in Renter’s Insurance? Lesson – Car Insurance: How to Lower Your Rates Lesson – Why Health Insurance is So Expensive Lesson – Life Insurance: The Ultimate Safety Net Lesson – What Damage Does Home Insurance Cover?
Explain the role of insurance in financial planning as a wealth-building and wealth preservation tool.	Lesson – Life Insurance: The Ultimate Safety Net
Explain the legal expectations for certain insurances (e.g., automobile, health, homeowners).	Lesson – Car Insurance: How to Lower Your Rates Lesson – Why Health Insurance is So Expensive Lesson – What Damage Does Home Insurance Cover?
Develop recommended insurance coverage for individuals/families for various risks and different income and/or age levels.	Lesson – What’s Not Covered in Renter’s Insurance? Lesson – Car Insurance: How to Lower Your Rates Lesson – Why Health Insurance is So Expensive Lesson – Life Insurance: The Ultimate Safety Net Lesson – What Damage Does Home Insurance Cover?
Develop a plan for family financial security (e.g., secure storage of documents, cash reserve, household inventory, medical records retention) in case of a disaster, after which an individual may need to reestablish identity.	Lesson – Tame Your Financial Paperwork Lesson – How to Avoid Identity Theft, Scams and Fraud
Examine ways to minimize danger and ramifications of identity theft.	Lesson – How to Avoid Identity Theft, Scams and Fraud
Demonstrating Knowledge of Financing Postsecondary Education and Training
Identify costs and benefits of postsecondary education.	Lesson – Go to College or Start Working? Lesson – Financing Your Education
“Describe benefits, eligibility requirements, and tax implications of state-sponsored tax-advantage-qualified tuition plans as investment options for postsecondary education.”	Lesson – Financing Your Education
Identify the multiple pathways to postsecondary education and career preparedness.	Lesson – Financing Your Education Lesson – Planning Your Career Path Lesson – Go to College or Start Working? Lesson – Starting a Business 101
Identify sources of postsecondary education funding.	Lesson – Financing Your Education
Identify the purpose of the Free Application for Federal Student Aid (FAFSA) to determine eligibility for grants, scholarships, and loans and the essential information needed to complete it.	Lesson – Financing Your Education
Describe types of scholarships and identify scholarship scams.	Lesson – Financing Your Education
Examine types of student loans, including federal and private, and identify the associated risks.	Lesson – Financing Your Education
Examine the requirements to remain eligible for financial aid.	Lesson – Financing Your Education
Describe types of aid which do not require repayment, including federal, state, and institutional grants.	Lesson – Financing Your Education
Explain repayment requirements and options for student loans.	Lesson – Financing Your Education
Describe the options for borrowers struggling to make payments and the consequences of failure to repay student loans.	Lesson – Financing Your Education Lesson – What Is Bankruptcy?