Michigan Students Would Be Required to Pass Personal Finance Class Under New Bill

It has been considered by the Michigan lawmakers to bring a modification to the high school prospectus by seeking students to finish a course on personal finance before graduation.

House Bill 5190

The testimony about House Bill 5190 was heard by the House Committee on Education, which would require all the students to finish a half-credit financial literacy class to get a graduation degree. It would include topics like earning, saving, borrowing, spending, and investing money.

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What Has Been Stated by the Republican State Rep. Diana Farrington of Utica?

The Republican State Rep. Diana Farrington of Utica said that “Michigan schools must prepare students for success after graduation,” adding further “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.”

Michigan Students Would Be Required
Michigan Students Would Be Required

The Option to Choose Between Economic and Personal Finance Will Be Removed

Currently, the students in public and charter high schools have to take a course in economics, which can be replaced with a private finance class. Farrington’s bill is most likely to pull out the choice and seek both the course on economics and personal finance.

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Farrington recommended decreasing the criteria for learning a language other than English by two credits down to 1.5 credits to prepare a way for the addition of a personal finance class.

Governor Gretchen Whitmer to Review the Proposal First Before Signing

No vote has been given till now by the House Committee on Education on the personal finance class bill. It would have to be sanctioned there, in the full House and the Senate before that Governor Gretchen Whitmer might review signing it into law.


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