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After spending some time with Max Malmquist at the North Branch School Board meeting last week it was pretty apparent that in his 85 years on earth— there has been no room for complacency.  The School Board meeting agenda included discussion about implementing the upcoming high school graduation requirement for Minnesota pupils to obtain a half-credit in personal finance.  It isn’t effective until 2028, but North Branch  is looking to implement the course a year sooner.

Malmquist, who was invited to the School Board meeting for official recognition of his recent $100,000 scholarship gift,  has promoted personal finance skills in his contacts with district administration calling it a “passion.”  (Currently two $2,500 scholarship awards are distributed in his name.)

The “key is to help” students, he stated. And one of the major issues of our time is technology advancing quickly.  When it lands in the hands of inexperienced young people it has the potential to impact lives. Personal finance skills are absolutely necessary and the state legislature has acknowledged this by enacting the grad requirement.  

Part of Malmquist’s involvement will create a 501C3 non-profit being organized right now for private donations to build the existing account.

And, something being dubbed the “The Max Advantage Finance Challenge” will be initiated in spring.  It will focus on measuring a student’s skill in budgeting, investing, saving and managing money.  

North Branch High School Principal Clint Link explained the district now calls for completing 23 and a half credits for a diploma.  The added personal finance course will bring this to 24 credits.  

He said review of current senior schedules indicates the “vast majority” of students have time in a school day to fit the course in next year.

School Board members, however, had concerns about imposing this on students who may not have flexibility to physically be on campus when the class is offered,  or who have rigid individual education plans guiding them long-term.

The majority of the Board did not support making personal finance a mandate, a year in advance of the known state deadline not effective for a couple of years.

Superintendent Sara Paul said there may be exceptions that can be identified and there is time to take another look at the proposal, but not a lot of time.  Teachers who will be assigned this course, need to prepare and contracts need to be re-drafted, plus students need to bake this into their schedule/credits planning.

The Board agreed to review this again with more statistics and details in-hand, at the Board work session set for January 22.   No action on personal finance as a  requirement for next year was taken.

Malmquist, meanwhile, a retired post secondary teacher, who graduated from North Branch schools in 1958, put out the call for alumni and community to consider making donations into the non-profit being organized.

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