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Lawmaker calls for financial literacy graduation requirement

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A state lawmaker has proposed changing Michigan’s high school graduation requirements to include instruction in financial literacy.

The state core curriculum includes instruction in math, English, a foreign language, health, science and social studies.

Republican Representative Dianna Farrington says that should also include learning about managing credit, student loans, mortgages and budgeting.

“And I just want to make sure that we are educating our young adults to go out into the world and use this as a life skill for the rest of their life.”

To compensate for the change, Farrington would drop the two-credit foreign language requirement by half a credit. Farrington chairs the House Financial Services Committee.