Sec. 10305. Authorized activities
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/bill/114/s/1177/es/section-10305A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
An eligible entity that receives a grant under this part shall use such grant funds to establish an American Dream Account for each participating student described in section 10304(b)(1), that will be used to— open a college savings account for such student; monitor the progress of such student online, which— shall include monitoring student data relating to— grades and course selections; progress reports; and attendance and disciplinary records; and may also include monitoring student data relating to a broad range of information, provided by teachers and family members, related to postsecondary education readiness, access, and completion; provide opportunities for such students, either online or in person, to learn about financial literacy, including by— assisting such students in financial planning for enrollment in an institution of higher education; assisting such students in identifying and applying for financial aid (such as loans, grants, and scholarships) for an institution of higher education; and enhancing student understanding of consumer, economic, and personal finance concepts; provide opportunities for such students, either online or in person, to learn about preparing for enrollment in an institution of higher education, including by providing instruction to students about— choosing the appropriate courses to prepare for postsecondary education; applying to an institution of higher education; building a student portfolio, which may be used when applying to an institution of higher education; selecting an institution of higher education; choosing a major for the student's postsecondary program of education or a career path; and adapting to life at an institution of higher education; and provide opportunities for such students, either online or in person, to identify skills or interests, including career interests.
Subject to paragraphs
(3)and (4), and in accordance with applicable Federal laws and regulations relating to privacy of information and the privacy of children, an eligible entity that receives a grant under this part shall allow vested stakeholders, as described in paragraph (2), to have secure access, through an Internet website, to an American Dream Account. The vested stakeholders that an eligible entity shall permit to access an American Dream Account are individuals (such as the student's teachers, school counselors, school administrators, or other individuals) that are designated, in accordance with section 444 of the General Education Provisions Act ( 20 U.S.C. 1232g , commonly known as the Family Educational Rights and Privacy Act of 1974 ), by the parent of a participating student in whose name such American Dream Account is held, as having permission to access the account. A student's parent may withdraw such designation from an individual at any time. An eligible entity that receives a grant under this part shall not be required to give vested stakeholders, as described in paragraph (2), access to the college savings account portion of a student's American Dream Account. Notwithstanding paragraphs (1), (2), and (3), if a participating student is age 18 or older, an eligible entity that receives a grant under this part shall not provide access to such participating student's American Dream Account without the student's consent, in accordance with section 444 of the General Education Provisions Act ( 20 U.S.C. 1232g , commonly known as the Family Educational Rights and Privacy Act of 1974 ). Student data collected pursuant to subsection (a)(2)(A) shall be entered into an American Dream Account only by a school administrator or the designee of such administrator. An eligible entity that receives a grant under this part shall not use any student-level information or data for the purpose of soliciting, advertising, or marketing any financial or non-financial consumer product or service that is offered by such eligible entity, or on behalf of any other person. An eligible entity shall not use grant funds provided under this part to provide any deposits into a college savings account portion of a student's American Dream Account.