Michigan students would be required to pass personal finance class under new bill

Posted by ABC12 News Staff, abc12.com

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Michigan lawmakers are considering a change to high school curriculum by requiring students to complete a personal finance course before graduation.

The House Committee on Education heard testimony about House Bill 5190, which would mandate all students pass a half-credit financial literacy class to graduate. It would cover topics like earning, spending, borrowing, saving and investing money.

“Michigan schools have an obligation to prepare students for success after graduation,” said Republican State Rep. Diana Farrington of Utica. “Personal finance is one of life’s most important responsibilities as graduates move into adulthood, but our curriculum has neglected to prepare our young people to manage their resources wisely.”

Students in public and charter high schools currently must take a course in economics, which can be substituted with a personal finance class. Farrington’s bill would remove the option and require both an economics and personal finance course…read more.