Lawmaker calls for state financial literacy graduation requirement
A state lawmaker has proposed changing Michigan’s high school graduation requirements to include instruction in financial literacy. The state core curriculum requires instruction in math, English, a foreign language, health, science and social studies.
Republican Representative Dianna Farrington, who chairs the House Financial Services Committee, says that should also include learning about managing credit, student loans, mortgages and budgeting.
“And I just want to make sure that we are educating our young adults to go out into the world and use this as a life skill for the rest of their life,” she told Michigan Public Radio. “No matter what the future holds for someone’s education, career, family, I think every graduate will have personal finances and I think my plan will ensure that our schools prepare Michigan students for that.”
To compensate for the change, Farrington would drop the two-credit foreign language requirement by half a credit.