LANSING, Mich., (WPBN/WGTU) — A bill that would require high schoolers to pass a personal finance class has made its way to Governor Gretchen Whitmer’s desk.
House Bill 5190 is currently waiting for the governor’s signature after getting bipartisan support in the Michigan legislature.
If the bill is signed, students entering 8th grade before 2023 will need to complete a one-semester personal finance course.
Michigan isn’t the first state to bring this requirement to its schools. Earlier this year, both Florida and Georgia passed similar bills.
And legislators say the requirement is just common sense.
“One of their key missions is to teach things that kids are going to need in their life,” said Rep. John Damoose, R-107th District.
“I can’t think of anything more relevant to a person’s life than financial literacy,” Damoose said. “So, this one seemed like a sort of common-sense solution to something everybody’s going to need.”
The bill received bipartisan support in both the house and the senate and it seems to have support from local educators as well.
“I think it’s a fabulous idea,” said Stephen Seeyle, Pellston Schools’ superintendent.
“I’m very pleased to see that it’s going to be a change,” Seeyle said. “You know, when you’re looking at creating schedules and what you can offer in a school system, you can’t always just add.”
“It’s already something that Pellston does a little bit, we didn’t have a ton of time in our schedule, so this requirement and change would allow us to devote even more time to it,” Seeyle said.
Seeley also explained just how different the financial landscape was for students now versus when he was graduating high school.
“I remember applying for my first Chase credit card and you know it was a laborious process,” Seeyle said. “I had to fill out a paper application and then they sent it in the mail and I had to wait a couple weeks.
“Kids today can apply for a credit card if they’re 18 when they check out at any major store,” Seeyle said. “Or when I book spring break tickets, you’re asked at the end if you want a credit card with that.”
The bill has made its way to Whitmer’s desk and she is reviewing the final legislation.
The half-credit course can count as a math, arts, language, or foreign language credit at the discretion of local school boards which has led some groups to oppose the bill, worrying it may take away from already suffering arts and foreign language programs.
