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8:1 Matched Savings Program for Low-Income Students' Education

This Act establishes a demonstration grant program to help low-income students finance higher education or career and technical education. For every dollar saved by the student after an initial deposit, they receive an $8 match. These funds will not affect their eligibility for existing federal aid like the Pell Grant, and the program includes mandatory financial capability training.
Key points
8:1 matching contributions for education savings for eligible low-income students (after initial deposit).
Mandatory financial capability training and career readiness coaching provided.
Participation does not reduce eligibility for other federal financial aid (e.g., Pell Grants).
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Expired
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Additional Information
Print number: 118_S_2877
Sponsor: Sen. Sinema, Kyrsten [I-AZ]
Process start date: 2023-09-21
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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 118_S_2877.

Which chamber initiated this legislation?

This legislation was initiated in the Senate.

When did the legislative process begin?

The process officially started on 2023-09-21.

What are the main provisions?

Key points include:

  • 8:1 matching contributions for education savings for eligible low-income students (after initial deposit).
  • Mandatory financial capability training and career readiness coaching provided.
  • Participation does not reduce eligibility for other federal financial aid (e.g., Pell Grants).
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 [I-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 2025-12-30.

CATEGORIES

Education Economy Social Welfare