Michigan Governor Gretchen Whitmer has officially signed into law a plan to add a financial literacy course to the state’s high school curriculum.
House Bill 5190introduced by State Rep. Diana Farrington (R-Utica), adds a half-credit personal finance course as a requirement for high school graduation, beginning with ninth graders in 2024 .
The course requirement could meet half a credit of the four-credit math requirement, the two-credit non-English language requirement, or the one-credit visual arts requirement, the show or applied. The course could also be completed as part of an approved vocational and technical training program.
“As a mother, I want every Michigan graduating child to enter the world with a diverse set of skills and knowledge, and that must include financial literacy,” Governor Whitmer said. “I am proud to sign this bipartisan bill requiring all public school students to take a personal finance course. Every young Michigander deserves to know how to budget, save, and invest their money wisely so they can get off to a good start after high school, whether they’re going to college, starting a job, or opening a small business. Since I took office, we have worked side by side to put Michigan students first, making historic investments in preschool through 12th grade education to improve every child’s classroom experience and school facilities. Today’s bill will strengthen the state’s education program, and I look forward to signing another balanced budget so we can build on our bipartisan investments in education.
“Personal finance education will serve as a launch pad for Michigan graduates entering adulthood, so they aren’t caught off guard by the financial decisions that await them,” the representative said. State Diana Farrington, R-Utica. “The course will teach students how to manage their finances. They will be ready to make smart budget choices every day and equipped to meet the challenges that come their way. Establishing a core class dedicated to financial literacy has been a years-long labor of love for me, and I’m truly excited for the students who will soar to new heights through a fuller and richer education.
Michigan joins eight other states that will require it or already require it, but more states are adding it.
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