Michigan high school freshmen are now required to take a personal finance course to graduate. The semester-long class aims to teach students essential money management skills for their future financial stability. Lothar Konietzko, a personal finance teacher at Waverly High School, said, “It’s probably one of the most valuable classes any student can take in high school.
This class is really useful for life right off the bat.” He stressed the importance of financial literacy in preparing students for the real world and avoiding common financial mistakes. Laura Lutterbeck, CFO of an organization that worked with educators and policymakers, noted the extensive planning involved in making this requirement a reality. “We often partner with teachers providing practical math, business teachers, and career readiness teachers, depending on what best fits the school’s needs,” she said.
Michigan high school freshmen finance course
Bank manager Dan Shanahan, who has volunteered at several Mid-Michigan schools, highlighted the core components of the course, including budgeting, saving, understanding credit, and avoiding financial missteps. Students learn the basics they need to know to handle their money,” Shanahan said.
The Michigan Department of Education supports the effort by providing guidance documents to help schools develop the required curriculum. The course content addresses crucial financial concepts such as earning, spending, saving, credit, investing, and insuring. A representative from the Michigan Department of Education stated, “This requirement creates a base for the financial footing of young adults during pivotal years and impacts their individual and household financial decisions later in life.” Freshmen this year and in subsequent years must earn the ½ credit in personal finance to graduate, with the course available any time during their high school tenure.
Junior Achievement also partners with schools to teach personal finance courses, aiming to provide students with real-world financial skills. By fostering financial literacy in high school, Michigan aims to prepare its students for a future of financial responsibility and success.
