Earn to Learn Act

12/15/2023, 4:02 PM

Congressional Summary of HR 5645

Earn to Learn Act

This bill directs the Department of Education (ED) to establish a postsecondary education match savings account demonstration grant program, through which ED must award competitive grants to states and nonprofit organizations to provide certain low-income students with postsecondary education match savings accounts (e.g., 529 plans).

Further, ED must (1) develop and make available to grant recipients certain tools, including a training platform, a program guide, an online data portal, and certain trainings (e.g., on workforce readiness); (2) ensure that participation in the grant program does not affect student eligibility for Federal Pell Grants; and (3) provide technical assistance.

Grant recipients must use funds to (1) select eligible students to participate in the grant program, (2) provide selected students with financial literacy education, (3) establish a postsecondary education match savings account for each participating student and allow such students and their families to deposit funds in their account to save for attendance at an institution of higher education or an area career and technical education school, and (4) reserve matching funds for participating students. Additionally, grant recipients must ensure that participating students are entitled to withdraw funds from their accounts under certain circumstances.

Current Status of Bill HR 5645

Bill HR 5645 is currently in the status of Bill Introduced since September 21, 2023. Bill HR 5645 was introduced during Congress 118 and was introduced to the House on September 21, 2023.  Bill HR 5645's most recent activity was Referred to the House Committee on Education and the Workforce. as of September 21, 2023

Bipartisan Support of Bill HR 5645

Total Number of Sponsors
1
Democrat Sponsors
1
Republican Sponsors
0
Unaffiliated Sponsors
0
Total Number of Cosponsors
0
Democrat Cosponsors
0
Republican Cosponsors
0
Unaffiliated Cosponsors
0

Policy Area and Potential Impact of Bill HR 5645

Primary Policy Focus

Education
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Comments

Sponsors and Cosponsors of HR 5645

Susie Lee
Susie Lee
Nevada(Democrat)

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