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You probably don’t
think of a loan or credit-card application as a contract, but it is. By signing
on the dotted line, you’re entering into an agreement between you and the
lender about what each of you must or must not do. You have responsibilities
you have to meet to uphold your end of the contract, but so does the lender.
What You’ll LearnExplore the rights and responsibilities of borrowers and lenders.
While your teen is learning about borrowing
and credit, consider ways to reinforce learning from home.
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Lesson added to your My HSFPP page.