Students in Integrated Math 3 participated in an assignment centered around the home buying process. By combining an inquiry into mathematical concepts with an investigation into real-world home buying scenarios, the project leveraged empathy as a means to explore financial literacy. This is highlighted in the essential question guiding the assignment; How might we understand and empathize with the process families go through to become homeowners in Massachusetts?
I believe this project deepened students’ understanding on why it is crucial to consider variables involved in financial decisions and how each variable depends on another. . . Understanding the different variables and the way they behave mathematically–specifically around money–allows you to plan for the future and make decisions that work for you.
Jordyn Williams, Upper School Math
Prior to the mortgage assignment, Integrated Math students focused on solving, evaluating, writing, and graphing exponential functions. The topic of compound and continuous interest opened a dialogue around how money can grow, showcasing how exponential behavior is modeled in real life.
Students began their inquiry into the home buying process by interviewing adults, tracking down sources, and taking a broad approach to researching mortgages. “I interviewed by mom on her opinions and experiences around finances, saving, and expenses,” one student shares. “Next, I researched redlining in Boston and learned about how different groups and neighborhoods in Boston have been impacted by policies that segregated the city.”
Students also engaged in work around building empathy. “Something I decided to try this term was to have students do the pre-work to imagine what it would be like to be in a first time home buyer’s shoes,” teacher Jordyn Williams shares. “In order to accomplish this, practicing having empathy was a crucial step.” Williams collaborated with the Hiatt Center to integrate meaningful opportunities for empathy into the class, including an “empathy circle” that modeled how active listening is a crucial step towards understanding and connection. Students put this learning to the test during visits from several guest speakers who shared their own experiences with buying homes in the area.
I now know that we must see both the visible and invisible challenges. Home ownership isn’t just about having the finances for a house, it’s a process- one that is lengthy and challenging.
Student reflection
Students were assigned hypothetical scenarios that placed them in the shoes of first-time homebuyers. They answered questions like: What are your non-negotiables? What barriers might you face? What compromises can you make? Using tools like Zillow and personalized spreadsheets, students investigated home prices across Massachusetts, calculated monthly mortgage payments, and analyzed the long-term cost differences between 15 and 30 year mortgage plans. The knowledge gained from this assignment opened up additional conversations around other forms of borrowing money such as credit card payments, student loans, retirement accounts, and more.
By modeling mortgage calculations, students saw how small shifts in interest rates or down payments could result in thousands of dollars gained or lost over time. Having hypothetical homebuyers to look after allowed these findings to feel grounded in the real world; students knew the scenarios they were encountering were everyday realities for home buyers across the state, making their calculations an exercise in compassion.
For my family, I needed to find a house that fit their desires and their non-negotiables. Once my partner and I found a home that best fit out family, we started on the calculcations. . . I learned how much thought and effort go into the financials of buying a home. It is not a one-and-done purchase; it can follow you for 30 or 15 years.
Student reflection
Students summarized their work through reflection papers and gallery-style presentations open to other students and faculty/staff at Beaver. Students showcased their calculations, discussed their assigned home buying scenarios, and proposed additional essential questions for guests to consider. These questions included: How can MA ensure equitable access to safe, affordable housing for all residents, especially in historically marginalized communities, amid rising house costs? How equitable is access to affordable housing for low-income seniors in Boston across racial, ethnic, and linguistic lines?
By approaching the home buying process through a lens of empathy, students contextualized their learning in the real world. Exponential functions were expanded upon as a crucial concept in financial literacy, impacting everything from mortgage rates to debt. Students will use their understanding of mortgages to extend empathy, think critically, and enter the world equipped with the knowledge needed to make sound financial decisions.
I hope students remain curious and think critically about their options and the different variables that play into outcomes. . . As a young adult it can be overwhelming to be thrown into a world where you are expected to just know. Being exposed to these conversations in high school makes them feel more attainable and approachable later on.
Jordyn Williams, Upper School Math