NAIFA is proud that Michigan is the 14th state to embrace a personal finance education course requirement. Michigan's legislation requires that all high school students take a half-credit course in personal finance before they graduate. The Michigan House of Representatives passed HB 5190 by a vote of 94-13 and the bill passed the state's Senate in May with a vote of 35-2. Members of NAIFA-Michigan, who first created this concept a decade ago with legislation to create optional courses, celebrate the signature of Governor Whitmer updating Michigan’s high school curriculum to include a financial literacy course.
Earlier this year, both Florida and Georgia passed similar laws guaranteeing access to a personal finance course for all students. “Financial literacy is the foundation to achieve financial security for all,” says NAIFA Government Relations SVP Diane Boyle. NAIFA members in the remaining states look forward to advancing similar legislation.