Credit: Past, Present & Future By Sherry Hertle & Teresa Caldwell Module 1 :Credit Management Module 2:Improving Your Cred...
Abstract In today's day and age more and more people are having  problems managing their credit wisely.  No formal educati...
Learners <ul><li>People who want to either improve their credit, learn more about how credit works  </li></ul><ul><li>Thes...
Context <ul><li>The class will be delivered virtually and offered through the adult learning annex. </li></ul><ul><li>Clas...
Designing Activities Virtually   Course Design <ul><li>3 Modules: 6 Hour Course </li></ul><ul><li>Module 1 (7 Lessons) </l...
All Modules are Instructor Led & May Include the Following Activities  Instruction Lead :  Virtual Classroom Class Discuss...
Content Related Research 1 <ul><li>People do not understand how low credit scores can  increase their mortgage  and  credi...
Content Related Research 2 <ul><li>A BizRate  article stated </li></ul><ul><li>Nearly every consumer has at least on  erro...
Time Allocation <ul><li>Module 1    7 lessons   2 hours </li></ul>Lesson Lecture Activity Media Time History of Credit Sou...
Deliverables <ul><li>PowerPoint Presentation </li></ul><ul><li>Instructor Guide </li></ul><ul><li>Participant Guide/ Workb...
Guiding Design Philosophies <ul><li>Merrill’s Component Display Theory </li></ul><ul><li>Gagne’s Nine Events of Instructio...
Component Display  Theory (CDT) Lesson Objective History of Credit <ul><li>Identify two events that impact  the debt and c...
Gagne’s 9 Events of Instruction Lesson: Starting a Budget Event Action Gain Attention Humorous Video Describe goal The lea...
<ul><li>Gain the  A ttention of the learners :  This is done with interactive introduction exercises and humorous videos <...
Introduction Exercise Mind Mapping:  Used to gather or organize thoughts when discussing concepts or establishing prior kn...
Structured Writing Solutions  Information Mapping Analysis Organization Presentation. Procedures—steps Process description...
Presenting Facts <ul><li>Diagrams for Concrete Facts  </li></ul><ul><li>Clark suggests that in order to  </li></ul><ul><li...
Pre and Post Test Pre and Post Test
Formative Evaluation Questions <ul><li>Does the proposed design meet the needs of the target learners? </li></ul><ul><li>I...
Sources <ul><li>Clark, Ruth C. 2007.  Developing technical training ,  a structured approach for developing classroom and ...
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  • Welcome the Final Presentation on the design of the course Credit: Past, Present &amp; Future. Before we get into the details on the design of the course, I am going to provide you with a general overview of the the course, introduce you to the learners and provide you the context of the instruction.
  • Credit_Hertle_caldwell_572

    1. 1. Credit: Past, Present & Future By Sherry Hertle & Teresa Caldwell Module 1 :Credit Management Module 2:Improving Your Credit Score
    2. 2. Abstract In today's day and age more and more people are having problems managing their credit wisely.  No formal education on credit is required in high school or college and often people learn about credit through the school of hard knock or just breeze by with a good credit score by chance. This instructional product will provide learners with the basic knowledge, resources and steps to understanding and managing their credit for financial success.  
    3. 3. Learners <ul><li>People who want to either improve their credit, learn more about how credit works </li></ul><ul><li>These learners may be self-selected or may be directed to this course through loan officers, case workers or secondary and post secondary schools. </li></ul><ul><li>Demographics </li></ul><ul><li>Education (varies experience- high school graduates, some college, BA) </li></ul><ul><li>Age (25 -35) </li></ul><ul><li>Income (35,000 – 65,000) </li></ul><ul><li>Computer Experience (Moderate – Experienced) </li></ul>
    4. 4. Context <ul><li>The class will be delivered virtually and offered through the adult learning annex. </li></ul><ul><li>Class size will range from 3-15 </li></ul><ul><li>Meetings will consist three two hour workshops </li></ul><ul><li>( of which we are only developing 2 workshops) </li></ul><ul><li>Instruction would require at minimum: </li></ul><ul><li>Computer with Internet access configured to access VC </li></ul><ul><li>Completed pre-work </li></ul><ul><li>Microphone </li></ul><ul><li>Camera or picture for facilitator </li></ul>
    5. 5. Designing Activities Virtually Course Design <ul><li>3 Modules: 6 Hour Course </li></ul><ul><li>Module 1 (7 Lessons) </li></ul><ul><li>History of Credit </li></ul><ul><li>Sources of Credit </li></ul><ul><li>How Lenders Evaluate Credit </li></ul><ul><li>Understanding Your FICO </li></ul><ul><li>Tips For Raising Your Score </li></ul><ul><li>Create a Financial Plan </li></ul><ul><li>Start a Budget </li></ul><ul><li>Module 2 ( 5 Lessons) </li></ul><ul><ul><li>Credit Bureaus </li></ul></ul><ul><ul><li>How to select a credit repair service </li></ul></ul><ul><ul><li>Repairing your credit </li></ul></ul><ul><ul><li>Writing a Dispute Letter </li></ul></ul><ul><ul><li>How to Select the Right Credit Card </li></ul></ul><ul><li>Module 3 (3 Lessons) </li></ul><ul><ul><li>Bankruptcies, Liens and Judgments </li></ul></ul><ul><ul><li>School Loans </li></ul></ul><ul><ul><li>Medical Bills </li></ul></ul>Step 1 Identify the type of interaction that will be involved Step 2 Know what types of tools are available Step 3 Match tools to the interaction
    6. 6. All Modules are Instructor Led & May Include the Following Activities Instruction Lead : Virtual Classroom Class Discussion: Live In Class Chat Small Group Activities : 1. Credit Management 2. Improving Your Credit 3.Medical and Education Bills
    7. 7. Content Related Research 1 <ul><li>People do not understand how low credit scores can increase their mortgage and credit interest rates. </li></ul><ul><li>Low credit scores resulted in interest rate between 19% to 26% for new car </li></ul><ul><li>70 percentage of employers check credit rating for potential employees </li></ul><ul><li>48% of consumers know that poor credit score can result in rejected application </li></ul><ul><li>40% of American know that slow credit indications result in a $500 deposit for utilities </li></ul><ul><li>Chartered Financial Analyst and Julie Sturgeon </li></ul><ul><li>http://www.bankrate.com/msn/news/debt/debtmanageguide/bad-hurts1.asp?prodtype=pfin#2 </li></ul>
    8. 8. Content Related Research 2 <ul><li>A BizRate article stated </li></ul><ul><li>Nearly every consumer has at least on error on the report. </li></ul><ul><li>Credit bureaus do not check the accuracy of items given by creditors. </li></ul><ul><li>Check for typing errors, outdated information and inaccurate account histories . Not resolving this inaccuracies results in additional expense to the customer via of higher interest rates , or deposits from creditors. </li></ul><ul><li>www.bankrate.com/msn/news/debt/debtmanageguide/fix-mistakes1.asp?caret=3c </li></ul>
    9. 9. Time Allocation <ul><li>Module 1 7 lessons 2 hours </li></ul>Lesson Lecture Activity Media Time History of Credit Sources of Credit How lenders evaluate Credit Understanding your FICO Tips for Raising Your Score Create Financial Plan Start a Budget
    10. 10. Deliverables <ul><li>PowerPoint Presentation </li></ul><ul><li>Instructor Guide </li></ul><ul><li>Participant Guide/ Workbook </li></ul><ul><li>Course Evaluation </li></ul><ul><li>Pre‐Work </li></ul><ul><li>Pre and Post Test </li></ul><ul><li>Post‐Work </li></ul>
    11. 11. Guiding Design Philosophies <ul><li>Merrill’s Component Display Theory </li></ul><ul><li>Gagne’s Nine Events of Instruction </li></ul><ul><li>Keller's ARCs Motivational Theory </li></ul>
    12. 12. Component Display Theory (CDT) Lesson Objective History of Credit <ul><li>Identify two events that impact the debt and credit system as we know it today </li></ul>Source of Credit <ul><li>List two sources of credit and the benefit and drawback of each </li></ul>How Lenders Evaluate Credit <ul><li>Differentiate between the factors that impact your credit score and the factors that do not impact your credit score </li></ul>Understanding Your FICO <ul><li>List the five factors that affect your credit score in the order of weighted importance </li></ul>Tips for Raising Your Score <ul><li>Establish a list of activities to adhere to that will increase your credit score </li></ul>Create a Financial Plan <ul><li>Identify long and short term financial goals </li></ul><ul><li>Establish timelines for achieving financial goals </li></ul>Start a Budget <ul><li>Create a budget to help reduce debt and accommodate for both long and short term financial goals </li></ul><ul><li>Identify internet resources and/or communities for money management tracking and tips </li></ul>
    13. 13. Gagne’s 9 Events of Instruction Lesson: Starting a Budget Event Action Gain Attention Humorous Video Describe goal The learner will be able to create a budget to help reduce debt and accommodate for both long and short term financial goals Stimulate Recall of Prior Knowledge Have students recall prior experiences with budgeting. What worked and what did not. Present material to be learned Online tutorial on budgeting and money management presented. Worksheet designed to chunk tasks to avoid overload. Provide guidance for Learning Elicit performance &quot;practice&quot; Complete case study using the budget worksheet Provide Informative Feedback Submit to instructor for feedback Assess Performance Utilizing financial statements participants complete the budget worksheet and submit to instructor for assessment Enhance retention and transfer Join Wesabe or another credit management community. Email class members on one useful tidbit that you located on a community board
    14. 14. <ul><li>Gain the A ttention of the learners : This is done with interactive introduction exercises and humorous videos </li></ul><ul><li>Attach Relevance between the lesson and the goals of the learners: This is done by explaining some of the worthwhile reasons to attain good credit </li></ul><ul><li>Instill C onfidence in the learners: This is achieved by organizing the lesson in chunks rather than dumping the information at once. </li></ul><ul><li>Give the learners S atisfaction: Participants leave the class with their financial data recorded, analyzed and a budget in place, making the process of managing their credit less intimidating. </li></ul>ARCS
    15. 15. Introduction Exercise Mind Mapping: Used to gather or organize thoughts when discussing concepts or establishing prior knowledge <ul><li>Activity: </li></ul><ul><li>Refer participants to workbook. </li></ul><ul><li>Instruct participants to write inside the large circle, the main topic of </li></ul><ul><li>discussion (credit management) </li></ul><ul><li>Instruct participants to brainstorm topics or offshoots of the main idea and write them inside the smaller surrounding circle </li></ul><ul><li>Two – three volunteers share their thoughts </li></ul>
    16. 16. Structured Writing Solutions Information Mapping Analysis Organization Presentation. Procedures—steps Process description—explanations Structure—descriptions Concepts—definitions and examples Principles—rules Facts—physical characteristics Classification—types and categories
    17. 17. Presenting Facts <ul><li>Diagrams for Concrete Facts </li></ul><ul><li>Clark suggests that in order to </li></ul><ul><li>Reduce cognitive load, use a </li></ul><ul><li>diagram integrating descriptive </li></ul><ul><li>text into a diagram. </li></ul>How Lenders Evaluate Credit ( Ranges of Scores) Tables and Lists for Specific Data Specific Data can be presented in tables or bullet lists.   FACTS need to be displayed effectively to help learners understanding according to Clark (1999). How Lenders Evaluate Credit (Credit Score) ( Tips for Raising Score) FICO weighted contribution
    18. 18. Pre and Post Test Pre and Post Test
    19. 19. Formative Evaluation Questions <ul><li>Does the proposed design meet the needs of the target learners? </li></ul><ul><li>Is the content presented in an organized, coherent manner? </li></ul><ul><li>Do the video examples provide value and enhance the learning experience? </li></ul><ul><li>Are there adequate activities to reinforce the learning? </li></ul><ul><li>Are the necessary tools and resources provided to complete activities and exercises? </li></ul><ul><li>Will the learners be motivated to do use the provided job aids and apply these learning principles to help their future financial success? </li></ul>
    20. 20. Sources <ul><li>Clark, Ruth C. 2007. Developing technical training , a structured approach for developing classroom and computer based instructional materials 3rd ed. San Francisco, CA: Pfeiffer. </li></ul><ul><li>Fink, Diana, (2006). Chunks: Superior memory of experts. In  B. Hoffman (Ed.), Encyclopedia of Educational Technology. Retrieved August 3, 2008, from http://coe.sdsu.edu/eet/articles/chunks/start.htm </li></ul><ul><li>Roberts, S. (2005). Choosing tools for real-time virtual meetings. In  B. Hoffman (Ed.), Encyclopedia of Educational Technology. Retrieved August 3, 2008, from http://coe.sdsu.edu/eet/articles/sitools/start.htm </li></ul>
    21. 21. Thank You for

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