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Money Smart: Managing Debt (Module 8)

2 minute read

The FDIC Money Smart curriculum consists of 14 modules of financial education content. By completing these modules, you'll come away with practical knowledge, new skills, and resources you can use to manage your finances with confidence! See the full list of modules here.


Click below to start this module (will automatically download the PDF guide to your local file system) 

Begin Module 8: Managing Debt

The focus of Module 8 is different kinds of debt and ways to manage it. It consists of seven sections:

  • Section 1: What is Debt?
    • Debt and Credit
    • Understanding Your Debt
    • How Debt Can Affect Your Financial Situation
  • Section 2: How Debt Works
    • Debt Lingo
    • Installment Loans and Revolving Credit
    • Fees
    • Prepayment
  • Section 3: Reducing Debt
    • Two Strategies for Reducing Debt
    • Where to Get Help
  • Section 4: Nonpayment of Debts and Debts in Collection
    • The Life Cycle of Debt
    • Not Paying Debts
  • Section 5: Dealing with Student Loan Debt
    • What is Student Loan Debt?
    • What Can Happen If I Don’t Repay My Student Loans?
    • Types of Student Loans
    • Federal Student Loan Repayment Options
    • Managing Medical Debt
    • What is Medical Debt?
    • Medical Debt in Collections and Credit
  • Section 7: Understanding High Cost Debt
    • What is High Cost Debt?


Finished Module 8? Click here to access Module 9, which is about how credit cards work and how to manage them.

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