Thinking about where to start when it comes to implementing the personal finance course guaranteed through Michigan House Bill 5190?

With more than 70,000 teachers using NGPF curriculum and more than 15,000 participating in NGPF professional development, NGPF has become the trusted partner to ensure a successful implementation of this course in Michigan. 

Details about the bill: Great news! Details on Michigan House Bill 5190 as it pertains to personal finance education:

"Beginning with pupils entering grade 8 in 2023, the board of a school district or board of directors of a public school academy shall not award a high school diploma to a pupil unless the pupil completes a 1/2 credit course in personal finance that aligns with subject area content expectations developed by the department and approved by the state board under section 1278b. The 1/2 credit course in personal finance must fulfill 1/2 credit of mathematics required under subsection (1)(a)(i), 1/2 credit of visual arts, performing arts, or applied arts required under subsection (1)(a)(iv), or 1/2 credit of a language other than English required under subsection (2), as determined by the board of the school district or board of directors of the public school academy in which the pupil is enrolled. The 1/2 credit course in personal finance required under this subsection may be fulfilled through a department-approved formal career and technical education program or curriculum that aligns with the subject area content expectations developed by the department and approved by the state board for the credit under section 1278b."

Why is this important? As of October 2022, Michigan is one of 15 states that are now in the process of implementing or have implemented this guaranteed one semester personal finance course.

Research has found that financial education has many beneficial impacts including: 

• Manage credit better with credit scores going up and delinquency rates falling. 
• Make better decisions about student loans including shifting to low interest loans from high, and you don’t rack up credit card debt, and you don’t use private loans, which are  more expensive.”
• Reduces likelihood of taking out expensive payday loans.
• Increased savings from teachers and positive spillover effects with parents too! 

How can teachers prepare to teach this course? 

• Participate in NGPF PD and earn NGPF Academy hours through: 
• Certification Courses: Build your confidence in challenging content areas by investing only 2 hours per week; 11 different courses available, including Consumer Skills, Investing and Insurance
• On-Demand: Work at your own pace and on your own schedule with NGPF On-Demand with more than 40 one-hour modules available. 
• Live Virtual PD: Find resources you can use immediately with your students, collaborate with educators or attend a speaker series event every Thursday; five live events held weekly. 

• Review NGPF Curriculum
• Used by more than 2,000 Michigan teachers today
• NGPF's turnkey Semester Course, recently updated in the summer of 2022, makes lesson planning a cinch with each lesson including:  
  • Discussion prompts
• • Engaging activities and Arcade games
  • Exit tickets
• Already have a curriculum you enjoy? Check out these bite-size resources that will engage your students:
  • FinCap Friday: weekly current events video + quiz with 3 million plays to date
  • Arcade Games: More than 7 million game plays annually with 10 games currently available! 
  • Questions of the Day: More than 700 bell ringers to choose from

Frequently Asked Questions (FAQ): 

What are the standards that will be taught in the course? 

NGPF will share the state standards for the personal finance course once they become available. 

When does this guaranteed course take effect?

For students entering grade 8 in the 2023-2024 school year and thereafter. Research has found that this course is best taught in the 11th or 12th grade when students are closer to major life decisions including life after high school, opening a bank account, obtaining a part-time job and starting to drive a car, to name just a few. 

My district leaders are interested in learning more about implementation strategies. Do you have any tips? 

Dr. Carly Urban from Montana State University interviewed states that have been through the experience of implementing this course at scale. Her findings have been delivered in this report, Best Practices Implementing Financial Education in High Schools. 

What guidance has the Michigan Department of Education provided on the implementation of this course? 

We will include their guidance once it has been released. 

Is NGPF PD approved in the state of Michigan? 

As of October 2022, 357 Michigan teachers have completed close to 9,000 hours of NGPF professional development which has been approved in districts across the state. 

NGPF submits your attendance for a Certification Course to the Michigan Department of Education. Note that it can take up to three weeks for the DoE to process your credits.

Are there schools in our state already guaranteeing a personal finance course? 
The Got Finance? map provides insights on how hundreds of schools in your state are currently providing access to financial education. The Gold Standard Schools are already guaranteeing that every high school student takes a one semester personal finance and may be useful thought partners as you implement at your school.

About the Author

Tim Ranzetta

Tim's saving habits started at seven when a neighbor with a broken hip gave him a dog walking job. Her recovery, which took almost a year, resulted in Tim getting to know the bank tellers quite well (and accumulating a savings account balance of over $300!). His recent entrepreneurial adventures have included driving a shredding truck, analyzing executive compensation packages for Fortune 500 companies and helping families make better college financing decisions. After volunteering in 2010 to create and teach a personal finance program at Eastside College Prep in East Palo Alto, Tim saw firsthand the impact of an engaging and activity-based curriculum, which inspired him to start a new non-profit, Next Gen Personal Finance.

More posts by Tim