Southfield (CW50) – It is one of the biggest regrets of anyone in the middle stages of life and are about to retire, the fact that they should’ve started saving and planning for their financial future when they were younger. The state of Michigan is attempting to stop this recurring theme of young people not planning for their future.
Dearborn Public Schools and Henry Ford College were selected for a pilot program to bring a financial literacy curriculum to its students. The two schools were chosen as they already partner in dual enrollment for students, allowing high school students the opportunity to take college classes and earn college credits while in high school.READ MORE: Beaumont Health, Spectrum Health Plan To Merge, Operate 22 Hospitals
Majed Fadlallah, Director of the Early Middle Colleges, Dual Enrollment and College Partnerships of Dearborn Schools, joins Jackie Paige on Community Connect to talk about the financial literacy pilot program and why the training is critical to the success of students.READ MORE: Michigan Reports 172 New COVID-19 Cases, 20 Deaths
Nearly half of the states in America require financial literacy classes to be taught in high school. Michigan, is not one of these states, and the program is the first step into finding a comprehensive plan for financial literacy in the state. The financial empowerment curriculum will include money management concepts such as budgeting, setting financial goals, insurance, loans and savings. Other lessons within the course include investing, employee benefits, and retirement funds.
Personal Finance or BFN 141 will be available starting with the Winter 2021 Semester at HFC. Dearborn high school students interested in taking the class should contact their school counselors. Starting in the Fall 2021 Semester, all students enrolled in one of the district’s dual enrollment programs with HFC, such as Henry Ford Early College (HFEC), will be required to take the class. The class will count as a fourth-year math requirement for high school seniors.MORE NEWS: Judge Greg Mathis To Build New Community Center, Affordable Housing On Detroit's Westside
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