US SB918 | 2013-2014 | 113th Congress
Status
Spectrum: Bipartisan Bill
Status: Introduced on May 9 2013 - 25% progression, died in committee
Action: 2013-05-09 - Read twice and referred to the Committee on Health, Education, Labor, and Pensions.
Pending: Senate Health, Education, Labor, And Pensions Committee
Text: Latest bill text (Introduced) [PDF]
Status: Introduced on May 9 2013 - 25% progression, died in committee
Action: 2013-05-09 - Read twice and referred to the Committee on Health, Education, Labor, and Pensions.
Pending: Senate Health, Education, Labor, And Pensions Committee
Text: Latest bill text (Introduced) [PDF]
Summary
American Dream Accounts Act of 2013 - Authorizes the Secretary of Education to award competitive grants to eligible entities so each can establish and administer American Dream Accounts for a group of at least 30 low-income public school students who, at the time the entities apply for a grant, are attending a grade no higher than ninth grade. Lists as eligible entities: (1) state educational agencies, (2) local educational agencies, (3) charter schools, (4) charter management organizations, (5) institutions of higher education (IHEs), (6) nonprofit organizations, (7) entities experienced in educational savings or assisting low-income students attain higher education, and (8) consortia of two or more of these entities. Describes an American Dream Account as a personal online account for low-income students that monitors their progress toward higher education and includes a college savings account that provides some tax-preferred accumulation. Requires American Dream Accounts to provide students with opportunities, either online or in person, to: (1) attain financial literacy; (2) learn about preparing for enrollment in an IHE; and (3) identify their skills or interests, including career interests. Requires grantees, subject to federal privacy laws and regulations, to allow vested stakeholders to have secure Internet access to an American Dream Account, but not the college savings account portion of that Account. Prohibits grantees from using their grant to provide the initial deposit into the college savings account portion of a student's American Dream Account. Prohibits the funds in those college savings accounts from being considered in making federal student financial aid determinations.
Title
American Dream Accounts Act of 2013
Sponsors
Sen. Christopher Coons [D-DE] | Sen. Thad Cochran [R-MS] | Sen. Kirsten Gillibrand [D-NY] | Sen. Marco Rubio [R-FL] |
History
Date | Chamber | Action |
---|---|---|
2013-05-09 | Senate | Read twice and referred to the Committee on Health, Education, Labor, and Pensions. |
Same As/Similar To
HB2155 (Same As) 2013-07-08 - Referred to the Subcommittee on Higher Education and Workforce Training.
Subjects
Academic performance and assessments
Bank accounts, deposits, capital
Congressional oversight
Education
Education of the disadvantaged
Education programs funding
Elementary and secondary education
Financial literacy
Higher education
Internet and video services
Student aid and college costs
Bank accounts, deposits, capital
Congressional oversight
Education
Education of the disadvantaged
Education programs funding
Elementary and secondary education
Financial literacy
Higher education
Internet and video services
Student aid and college costs
US Congress State Sources
Type | Source |
---|---|
Summary | https://www.congress.gov/bill/113th-congress/senate-bill/918/all-info |
Text | https://www.congress.gov/113/bills/s918/BILLS-113s918is.pdf |