High school students must know how to control and manage credit and debt. Credit allows you to purchase goods and services that can be used today; however you have to pay for these goods and services in the future with interest. Students should understand that different credit options have different costs. Lenders approve or deny applications for loans based on credit scores. A credit score is the number that lenders use to predict how likely you are to pay back a loan on time. A good credit score will reduce the interest paid on credit cards and auto and home loans. A bad credit score will cost you tens of thousands of dollars over your lifetime in additional interest and could even prevent you from getting a loan, a job or an apartment.