Dearborn Public Schools was already offering high school students a college level personal finance class, even before the governor recently signed a new law that will require students to take such a class.
The district, in conjunction with Henry Ford College, began offering Personal Finance, or BFN 141, this school year at all three of its traditional high schools and at its Henry Ford Early College programs. The personal finance class is available to any student who is interested, and the course can provide a college credit if students opt to register through dual enrollment. Unlike most dual enrollment college classes, students can take Personal Finance at their home high school – Fordson, Dearborn High or Edsel Ford – instead of traveling to the Henry Ford College campus.
On June 16, 2022, Gov. Gretchen Whitmer signed a bill that will require all students to take a half-credit personal finance class to graduate high school. The requirement will start with the Class of 2027, which includes students entering eighth grade in the fall.
Personal finance covers topics like balancing a checking account, different types of investments, compound interest rates and more. Students taking related career/technical courses, such as accounting, would also meet the pending state requirement.
Dearborn Public Schools and Henry Ford College launched the Personal Finance class as part of a state pilot program to increase financial literacy in students. The program is part of a statewide Financial Empowerment Initiative.
“From the time students join us in preschool or kindergarten, we are focused on educating them to be successful not just in school, but in life,” said Superintendent Dr. Glenn Maleyko. “We are proud to be a leader in offering our students these critical financial skills so they have the knowledge to make important financial decisions that could follow them for decades. The district looks forward to expanding personal finance classes to reach all of our students.”