only by a school administrator or the designee of 
such administrator. 
(c) PROHIBITION ON USE OF STUDENT INFORMA-
TION.—An eligible entity that receives a grant under this 
Act shall not use any student-level information or data for 
the purpose of soliciting, advertising, or marketing any fi-
nancial or non-financial consumer product or service that 
is offered by such eligible entity, or on behalf of any other 
person. 
(d) PROHIBITION ON THE USE OF GRANT FUNDS.— 
An eligible entity shall not use grant funds provided under 
this Act to provide the initial deposit into a college savings 
account portion of a student’s American Dream Account. 
SEC. 7. REPORTS AND EVALUATIONS. 
(a) IN GENERAL.—Not later than 1 year after the 
Secretary has disbursed grants under this Act, and annu-
ally thereafter until each grant disbursed under this Act 
has ended, the Secretary shall prepare and submit a report 
to the appropriate committees of Congress, which shall in-
clude an evaluation of the effectiveness of the grant pro-
gram established under this Act. 
(b) CONTENTS.—The report described in subsection 
(a) shall— 
(1) list the grants that have been awarded 
under section 4(a); 
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(2) include the number of students who have an 
American Dream Account established through a 
grant awarded under section 4(a); 
(3) provide data (including the interest accrued 
on college savings accounts that are part of an 
American Dream Account) in the aggregate, regard-
ing students who have an American Dream Account 
established through a grant awarded under section 
4(a), as compared to similarly situated students who 
do not have an American Dream Account; 
(4) identify best practices developed by the eli-
gible entities receiving grants under this Act; 
(5) identify any issues related to student pri-
vacy and stakeholder accessibility to American 
Dream Accounts; 
(6) provide feedback from participating stu-
dents and the parents of such students about the 
grant program, including— 
(A) the impact of the program; 
(B) aspects of the program that are suc-
cessful; 
(C) aspects of the program that are not 
successful; and 
(D) any other data required by the Sec-
retary; and 
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(7) provide recommendations for expanding the 
American Dream Accounts program. 
SEC. 8. ELIGIBILITY TO RECEIVE FEDERAL STUDENT FI-
NANCIAL AID. 
Notwithstanding any other provision of law, any 
funds that are in the college savings account portion of 
a student’s American Dream Account shall not affect such 
student’s eligibility to receive Federal student financial 
aid, including any Federal student financial aid under the 
Higher Education Act of 1965 (20 U.S.C. 1001 et seq.), 
and shall not be considered in determining the amount of 
any such Federal student aid. 
SEC. 9. AUTHORIZATION OF APPROPRIATIONS. 
There are authorized to be appropriated to carry out 
this Act such sums as may be necessary for fiscal year 
2016 and each of the 4 succeeding fiscal years. 
Æ 
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