Michigan’s financial literacy standards for public high school students, meet your match!
Michigan has taken a significant leap forward in preparing its high school students for financial success. Starting with this year’s eighth-grade class, HB 5190 requires that personal finance education is now a requirement for high school graduation.
This transformation is a result of bipartisan legislation passed in 2022, supported by a coalition of organizations representing education, philanthropy, the financial industry, business, and social justice. As Michigan adapts to these new educational standards, Money Vehicle, a leading virtual education company committed to bridging the financial literacy gap in the United States, proudly aligns its virtual financial literacy course with the state’s requirements.
About Michigan’s financial literacy standards for schools
The State Board of Education recently engaged in a discussion regarding the approval of standards for a new half-credit personal finance course. “As a mom, I want every kid who graduates in Michigan to enter the world with a diverse set of skills and knowledge, and that must include financial literacy,” said Governor Whitmer. “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 a great start after high school, whether they go to college, start working, or open a small business.” During the deliberations, the Michigan Department of Education (MDE) recommended the integration of personal finance standards into an existing economics course, utilizing language from the state’s 2019 social studies standards.
Money Vehicle’s financial literacy course seamlessly aligns with Michigan’s new requirements, providing students with the knowledge and skills necessary to navigate the complexities of personal finance successfully. Michigan’s Department of Education’s listed content expectations encompasses earning income, buying goods and services, saving, using credit, financial investing, protecting and insuring, budgeting, and paying taxes.
This significant development reflects Michigan’s commitment to equipping its students with the knowledge and skills necessary to navigate the complex world of personal finance. It is a testament to the dedication of various stakeholders who understand the importance of financial literacy in today’s society.
Money Vehicle stands ready to support Michigan’s educators, students, and school districts in delivering comprehensive financial education. Through its virtual financial literacy course, Money Vehicle empowers the next generation with essential financial knowledge and skills, ensuring they are well-prepared for their financial journey in alignment with Michigan’s new standards.
Be sure to grab a copy of “Your Money Vehicle: Financial Literacy for Beginners,” written by Money Vehicle’s Founder and CEO, Jedidiah Collins! And if youlike what you see, you can get more content sent directly to your inbox! Sign up for the Money Vehicle Movement Newsletter!
And check out our white paper: “Strategies for Increasing Financial Literacy Rates Among High School and College Students”
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