DEARBORN, Mich. – Learning how to manage money is a real-life skill that’s all too often overlooked in school. A new pilot program that launched Monday is aiming to change that.
Henry Ford College and Dearborn Public Schools have launched the state’s first Financial Empowerment Curriculum. It’s goal is to teach the basic principles of managing money.
“Empowering our youth with an understanding about money will pay dividends for our future,” Lt. Gov. Garlin Gilchrist II said. “This pilot program provides a roadmap so we can help our youth plan a budget, save money, plan for taxes, and buy insurance. Those students who take this class will have a better understanding to make well-considered financial goals and the knowledge necessary to achieve those goals.”
During the pilot, Dearborn Public High School students will enroll in a Personal Finance course concurrently with Henry Ford College. They will learn financial life skills while earning college credit.
Financial literacy is an important skill set that our students will need throughout their lives. Understanding the basic concepts of how money works can make a huge difference in empowering people and reducing financial concerns. We are proud to partner with the state in this effort.Russ Kavalhuna, President of Henry Ford College
The first ever MI Financial Literacy Summit was held at Henry Ford College last year. State Treasurer Rachael Eubanks facilitated a discussion with experts from across the state about financial literacy and the role it has in shaping Michigan’s future. Most of the conversation focused on the need to education the youth in the state.
“Our first summit last year was the beginning on an incredible dialog with so many experts who wanted to create a more successful Michigan,” State Treasurer Rachael Eubanks said. “This curriculum is the beginning of what I desire to be available across our state. We must continue our discussions on how we can best financially empower individuals and families through statewide coordination.”