Michigan integrates financial literacy into existing courses rather than requiring a standalone class. The state has 42 financial literacy standards across 13 topic areas that are embedded within subjects like economics and social studies.

Last updated: March 2026

42 Standards
13 Topic Areas
integrated Mandate Status
K-5, 6-8, 9-12 Grade Levels

Does Michigan Require Financial Literacy Education?

Yes, through integration. Michigan requires financial literacy concepts to be taught within existing courses rather than as a standalone class. Michigan requires financial literacy content integrated into social studies and mathematics curricula across K-12. No standalone financial literacy course mandate exists, but standards emphasize personal finance, consumer awareness, and economic concepts aligned with grade-level content.

Mandate Details

Status
integrated
Standalone Course
No
Grade Levels
K-5, 6-8, 9-12
Legislation
Public Act 105 of 2022 (HB 5190), amending MCL 380.1278a (2022-06-16)

Key Agencies

Michigan Department of Education
State education authority; sets standards and provides curriculum guidance; does not directly procure or adopt materials
Michigan Association for Supervision and Curriculum Development
Professional organization supporting district leadership and procurement best practices
Michigan Association of Intermediate School Administrators
Support local districts with procurement, cooperative purchasing coordination, and RFP management
What this means for districts: Teachers need resources that address financial literacy objectives within their existing courses. A standards-aligned supplement can help ensure coverage without requiring schedule changes.

What Are Michigan's Financial Literacy Standards?

Michigan has 42 financial literacy standards organized across 13 topic areas. These topics range from Taxes and Investing to Identity Theft & Cyber Safety, covering the full spectrum of personal finance education.

3 standards
Taxes
3 covered
2 standards
Investing
2 covered
1 standard
Insurance & Risk Management
1 covered
1 standard
Saving
1 covered
1 standard
Earning Income
1 covered
1 standard
Budgeting & Cash Flow
1 covered
1 standard
Credit & Debt
1 covered
1 standard
Employment & Benefits
1 covered
1 standard
Postsecondary Financing
1 covered
1 standard
Retirement Planning
1 covered
1 standard
Consumer Protection & Fraud
1 covered
1 standard
Financial Systems & Regulation
1 covered
1 standard
Identity Theft & Cyber Safety
1 covered

How Michigan School Districts Adopt Financial Literacy Curriculum

Michigan is an open territory state, meaning individual districts have the authority to select and purchase curriculum directly without state-level approval. Michigan does not have a state-mandated adoption list. Districts retain local control over curriculum and materials selection, though they must comply with state content standards.

Purchasing Process

Individual school districts make purchasing decisions independently through their own RFP processes or vendor negotiations. Some districts participate in cooperative purchasing agreements to leverage volume discounts.

Decision Level

Educational material selection and procurement decisions are made at the local school district level, with guidance from Michigan Department of Education and Early Childhood (DEECD) standards and frameworks.

Cooperative Purchasing Options

Michigan Inter-Educational Cooperative Services (MIECS) Kent Intermediate School District Cooperative Purchasing Oakland Schools Cooperative Purchasing Macomb Intermediate School District Purchasing Cooperative Genesee Area Intermediate School District Cooperative Consortium for School Networking (CoSN) — national cooperative with Michigan participation

Curriculum That Meets Michigan's Financial Literacy Standards

Districts looking for a standards-aligned financial literacy curriculum can use iKnowFi Academy — a self-paced, online platform built on the Absorb LMS that maps directly to Michigan's learning objectives. iKnowFi Academy covers 42 of 42 standards (100.0% coverage) across 6 courses.

Michigan Standards Coverage

100.0%
42 of 42 standards covered 6 courses

Aligned Courses

Financial Building Blocks

1 module · 4 standards aligned

Financial Preparation and Recovery

4 modules · 19 standards aligned

Managing Your Money

1 module · 3 standards aligned

The Importance of Saving

1 module · 4 standards aligned

Using Credit Cards

1 module · 3 standards aligned

Your Financial Future

3 modules · 9 standards aligned

Michigan's Financial Literacy Standards & iKnowFi Academy Alignment

All 42 standards — 42 covered by iKnowFi Academy.

Taxes 3/3 covered
ID Standard Grade iKnowFi Academy Course
PF1 Earning Income – conduct research regarding potential income and employee benefit packages, non-income factors that may influence career choice, benefits and costs of obtaining the necessary education or technical skills, taxes a person is likely to pay, and other possible sources of income. 9-12 Financial Preparation and Recovery
PF5 Financial Investing – analyze the risks, expected rate of return, tax benefits, the impact of inflation, the role of government agencies, and the importance of diversification when investing in financial assets. 9-12 Financial Preparation and Recovery
PF7 Paying Taxes – identify and evaluate taxes a person is likely to pay, including federal, state, and local taxes, tax benefits and drawbacks, impacts on take-home pay, types of IRS tax forms, and how these can affect their taxes. 9-12 Financial Preparation and Recovery
Investing 2/2 covered
ID Standard Grade iKnowFi Academy Course
PF1 Earning Income – conduct research regarding potential income and employee benefit packages, non-income factors that may influence career choice, benefits and costs of obtaining the necessary education or technical skills, taxes a person is likely to pay, and other possible sources of income. 9-12 Your Financial Future
PF5 Financial Investing – analyze the risks, expected rate of return, tax benefits, the impact of inflation, the role of government agencies, and the importance of diversification when investing in financial assets. 9-12 Your Financial Future
Insurance & Risk Management 1/1 covered
ID Standard Grade iKnowFi Academy Course
PF6 Protecting and Insuring – assess the financial risk of lost income, assets, health, or identity, and determine if a person should accept the risk exposure, reduce risk, or transfer the risk to others by paying a fee now to avoid the possibility of a larger loss later. 9-12 Financial Preparation and Recovery
Saving 1/1 covered
ID Standard Grade iKnowFi Academy Course
PF3 Saving – identify the incentives people have to set aside income for future consumption and evaluate the impact of time, interest rates, and inflation upon the value of savings. 9-12 The Importance of Saving
Earning Income 1/1 covered
ID Standard Grade iKnowFi Academy Course
PF1 Earning Income – conduct research regarding potential income and employee benefit packages, non-income factors that may influence career choice, benefits and costs of obtaining the necessary education or technical skills, taxes a person is likely to pay, and other possible sources of income. 9-12 Financial Building Blocks
Budgeting & Cash Flow 1/1 covered
ID Standard Grade iKnowFi Academy Course
PF2 Buying Goods and Services – describe the factors that consumers may consider when purchasing a good or service, including the costs, benefits, and the role of government in obtaining the information. 9-12 Managing Your Money
Credit & Debt 1/1 covered
ID Standard Grade iKnowFi Academy Course
PF4 Using Credit – evaluate the benefits, costs, and potential impacts of using credit to purchase goods and services. 9-12 Using Credit Cards
Employment & Benefits 1/1 covered
ID Standard Grade iKnowFi Academy Course
PF1 Earning Income – conduct research regarding potential income and employee benefit packages, non-income factors that may influence career choice, benefits and costs of obtaining the necessary education or technical skills, taxes a person is likely to pay, and other possible sources of income. 9-12 Financial Building Blocks
Postsecondary Financing 1/1 covered
ID Standard Grade iKnowFi Academy Course
PF1 Earning Income – conduct research regarding potential income and employee benefit packages, non-income factors that may influence career choice, benefits and costs of obtaining the necessary education or technical skills, taxes a person is likely to pay, and other possible sources of income. 9-12 Your Financial Future
Retirement Planning 1/1 covered
ID Standard Grade iKnowFi Academy Course
PF1 Earning Income – conduct research regarding potential income and employee benefit packages, non-income factors that may influence career choice, benefits and costs of obtaining the necessary education or technical skills, taxes a person is likely to pay, and other possible sources of income. 9-12 Your Financial Future
Consumer Protection & Fraud 1/1 covered
ID Standard Grade iKnowFi Academy Course
PF2 Buying Goods and Services – describe the factors that consumers may consider when purchasing a good or service, including the costs, benefits, and the role of government in obtaining the information. 9-12 Financial Preparation and Recovery
Financial Systems & Regulation 1/1 covered
ID Standard Grade iKnowFi Academy Course
PF5 Financial Investing – analyze the risks, expected rate of return, tax benefits, the impact of inflation, the role of government agencies, and the importance of diversification when investing in financial assets. 9-12 Your Financial Future
Identity Theft & Cyber Safety 1/1 covered
ID Standard Grade iKnowFi Academy Course
PF6 Protecting and Insuring – assess the financial risk of lost income, assets, health, or identity, and determine if a person should accept the risk exposure, reduce risk, or transfer the risk to others by paying a fee now to avoid the possibility of a larger loss later. 9-12 Financial Preparation and Recovery

Michigan Financial Literacy FAQ

Michigan integrates financial literacy into existing courses rather than requiring a standalone class.

Michigan requires financial literacy content integrated into social studies and mathematics curricula across K-12. No standalone financial literacy course mandate exists, but standards emphasize personal finance, consumer awareness, and economic concepts aligned with grade-level content.

Michigan's financial literacy requirement is established by Public Act 105 of 2022 (HB 5190), amending MCL 380.1278a. Effective 2022-06-16.

Requires all Michigan high school students to complete a half-credit personal finance course as a graduation requirement, effective for students entering 8th grade in 2023 and later.

Michigan's financial literacy standards apply to grades K-5, 6-8, 9-12. Standards are integrated into existing coursework.

Michigan has 42 financial literacy standards spanning 13 topic areas including Taxes, Investing, Insurance & Risk Management, Saving, Earning Income.

Michigan's 42 standards are organized across 13 topics: Taxes, Investing, Insurance & Risk Management, Saving, Earning Income, Budgeting & Cash Flow, Credit & Debt, Employment & Benefits, Postsecondary Financing, Retirement Planning, Consumer Protection & Fraud, Financial Systems & Regulation, Identity Theft & Cyber Safety.

Michigan is an open-territory state where individual districts purchase curriculum directly.

Individual school districts make purchasing decisions independently through their own RFP processes or vendor negotiations. Some districts participate in cooperative purchasing agreements to leverage volume discounts.

iKnowFi Academy covers 42 of Michigan's 42 financial literacy standards (100% coverage) across 6 self-paced online courses.

Each course is aligned to Michigan's specific learning objectives, built on the Absorb LMS, and includes built-in assessments. Teachers assign them and students work independently.

Get Your Free Michigan Standards Alignment Report

See exactly how iKnowFi Academy maps to each of Michigan's 42 financial literacy standards — standard by standard, module by module.

  • 42 of 42 standards covered
  • 6 self-paced courses, ready to assign
  • Built-in assessments and progress tracking
  • No schedule changes needed — students work independently

Ready to see the full alignment?

Free for Michigan school districts

Request Alignment Report Schedule a Demo
Last updated: March 2026