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Matched Savings Program for Low-Income Students

This Act establishes a program to help low-income students save for higher education. For every $1 saved by a student, the program adds $8, aiming to reduce student loan debt and improve financial well-being after graduation. The program also provides financial literacy training and career readiness support.
Key points
Matched Savings: For every $1 saved by a student, the program adds $8 to their educational account, after an initial $500 savings threshold is met.
Financial and Educational Support: Students will receive training in financial management, budgeting, student debt handling, and support for college and career readiness.
No Impact on Other Aid: Participation in this program will not affect a student's eligibility for Federal Pell Grants or other federal student aid.
Fund Accessibility: Students who do not meet program requirements can withdraw their contributed funds. Program participation ends 6 years after initial enrollment.
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Additional Information
Print number: 117_S_1173
Sponsor: Sen. Sinema, Kyrsten [D-AZ]
Process start date: 2021-04-15
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Summarized by: gemini-2.5-flash-preview-05-20
Source data: api.congress.gov
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OFFICIAL LEGAL TITLE

Earn to Learn Act

FREQUENTLY ASKED QUESTIONS

What is the official ID of this bill?

The official print number for this legislation is 117_S_1173.

Which chamber initiated this legislation?

This legislation was initiated in the Senate.

When did the legislative process begin?

The process officially started on 2021-04-15.

What are the main provisions?

Key points include:

  • Matched Savings: For every $1 saved by a student, the program adds $8 to their educational account, after an initial $500 savings threshold is met.
  • Financial and Educational Support: Students will receive training in financial management, budgeting, student debt handling, and support for college and career readiness.
  • No Impact on Other Aid: Participation in this program will not affect a student's eligibility for Federal Pell Grants or other federal student aid.
  • Fund Accessibility: Students who do not meet program requirements can withdraw their contributed funds. Program participation ends 6 years after initial enrollment.
What is the specific legal status?

The current status is Expired.

Where can I read the full text of this legislation?

The full official text is available at: View full text

Who is the primary sponsor?

The primary sponsor is Sen. Sinema, Kyrsten [D-AZ].

What is the latest detailed status?

The latest detailed status is: Introduced in Senate

Is this summary verified?

Yes. This content was analyzed by AI and verified by the Lustra Judge System on 2025-12-29.

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