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S.918: American Dream Accounts Act of 2013

About this Bill

This bill was introduced in the 113th Congress
This bill is primarily about education
You can read the bill
Sponsor Christopher A. Coons, D-Del.
Total Cosponsors 3 (1 Democrat, 2 Republicans)
Introduced May 9, 2013
Latest Major Action May 9, 2013
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Bill Progress

  • Bill introduced in the Senate   
  • Bill passed in the Senate   
  • Bill passed in the House   
  • Bill signed into law

Bill 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 America...

(Source: Congressional Research Service)

Bill Actions

Date Description
May 9, 2013 Read twice and referred to the Committee on Health, Education, Labor, and Pensions.