WASHINGTON – Today, the Senate passed an amendment to the Every Child Achieves Act of 2015 introduced by U.S. Senators Chris Coons (D-Del.) and Marco Rubio (R-Fla.) to help low-income and at-risk students access and complete a college education. The amendment, based on the Senators’ American Dream Accounts legislation, would authorize a pilot program within the Department of Education to award grants to support innovative and comprehensive partnerships that assist low-income students in preparation for a college education.
Read more about American Dream Accounts here: http://www.coons.senate.gov/issues/american-dream-accounts.
“For too long, college has been out of reach for the vast majority of poor Americans, but unlike in past decades, economic success today is defined by college access,” said Senator Coons. “I’m thrilled the Senate has passed our American Dream Accounts amendment that will address and break down many of the barriers to college access that our most at-risk students face in seeking a higher education. American Dream Accounts will help teachers, parents, mentors, and students work together to make sure young people — throughout their entire educational experience — prepare for, save for, train for, and then fulfill a vision for their own future. This is an important step forward towards ensuring every child in every school has the chance to go to college if they’re willing work hard for it.”
"This proposal is a big step in preparing low-income students for college with the financial tools they need, including a college savings account,” said Senator Rubio. “I know firsthand how important it is to save for college and to have individuals supporting your academic success, and this pilot program would help students and families overcome these hurdles. Significant improvements to this legislation still need to be made, but this is a positive one."
The American Dream Accounts amendment 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.