State Rep. Diana Farrington today testified before the House Committee on Education in support of her plan to require Michigan high school students to take a course in personal finance.
“Michigan schools have an obligation to prepare students for success after graduation,” said 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. My plan will help students gain the knowledge and skills they need to be financially literate and fiscally responsible.”
Farrington’s House Bill 5190 would require successful completion of a half-credit course in personal finance for a student to earn a diploma from a public high school, including a charter school. The required course would contain a financial literacy component to teach students earning, spending, borrowing, saving, and investing principles and skills to manage their personal finances.
Corresponding with the half-credit addition, the requirement for coursework in a language other than English would be reduced from two credits to 1½ credits. Currently, students may take a personal finance course instead of an economics course. Because personal finance instruction would be required, it would no longer fulfill the economics requirement.
HB 5190 remains under consideration by the committee.
Following the announcement that the Michigan Catastrophic Claims Association (MCCA) will issue refunds of $400 per vehicle to Michigan drivers, state Rep. Diana Farrington today said the announcement is another example of the historic reforms she supported in 2019 saving people money on their car insurance.
Rep. Farrington talks about House passage Wednesday of her HB 5190, which would modify the Michigan Merit Curriculum to include successful completion of a half-credit course in personal finance as a graduation requirement. Currently, students must take two full credits of a language other than English to graduate. The bill would adjust this requirement to 1½ […]