Senator Chris Coons introduced legislation today to help increase the number of low-income students able to access and complete a college education.
The American Dream Accounts Act of 2012 encourages partnerships among schools, colleges, non-profits and businesses to develop secure, Web-based student accounts that contain information about academic preparedness, financial literacy and high-impact mentoring and would be tied to a college savings account.
Instead of approaching these threads independently, this bill connects students, parents and teachers across silos, and takes a small but significant step toward helping more at-risk students of all income levels access, afford and complete a college education. A detailed background document is available here.
“One of the lessons we’ve learned from the recent recession is that unemployment has remained very low among those with a college degree,” Senator Coons said. “Now more than ever, amid intensifying global competition and rapidly changing technology, it’s critical that young people not only finish high school, but pursue some kind of education after high school. American Dream Accounts are a way to strengthen the ability of teachers, parents, mentors, and students to work together to make sure that young people, throughout their entire education experience, prepare for, save for, train for, and then fulfill a vision for their own future — a dream for their life after high school.”
Senator Coons’ legislation is cosponsored by Senators Marco Rubio (R-Fla.) and Jeff Bingaman (D-N.M.) and U.S. Representative Chaka Fattah (D-Pa.) will introduce the American Dream Accounts Act in the House of Representatives on Monday.
Sixty-seven percent of Delaware high school students graduate, but the rate drops dramatically in minority communities, with only 57 percent of Hispanic students and 59 percent of African American students earning a high school diploma. American Dream Accounts can help close that gap by giving students motivation and support early on, including the knowledge that scholarships, Pell and SEED grants will be there to support them after high school.
“This concept was inspired by my own experience working with the ‘I Have a Dream Foundation,’ both running a local chapter in Wilmington and, later, working with the national organization,” Senator Coons said. “That organization made a profound impact on low-income children who had family experiences where there was no expectation of college.”
Last month, Senator Coons convened two roundtable meetings of key experts and education leaders in Delaware and Washington in order to get feedback on the American Dream Accounts concept and explore ideas for strengthening the legislation. He is eager for additional feedback from Delaware parents, students, teachers and other stakeholders. Please click here to share your thoughts directly with Senator Coons.