Lets foster children and those in state care get money for education through special savings accounts.
This bill would make foster children and children under state or tribal government care eligible for special education savings accounts. These are sometimes called "Trump accounts" in the bill, but are officially known as Coverdell Education Savings Accounts. This means people could contribute money to these accounts for these children, helping them save for future education expenses. Currently, these children are not clearly allowed to get money from these accounts.
Today, foster children and children under state or tribal care are not explicitly included as eligible beneficiaries for Coverdell Education Savings Accounts. This means people cannot easily make tax-advantaged contributions to these accounts for them. If this bill becomes law, these children, if under 18, would become eligible. This would allow people to contribute to these accounts to help fund their education.
HR 9920 · 119th Congress · July 23, 2026 · AI Summary by gemini-2.5-flash · 8/10
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