American Dream Accounts Act

American Dream Accounts Act Authorizes the Secretary of Education to award competitive grants to eligible entities so each can establish and administer American Dream Accounts for a group of at least 30 low-income public school students who, at the time the entities apply for a grant, are attending a grade no higher than ninth grade. Lists as eligible entities: (1) state educational agencies; (2) local educational agencies (LEAs), including charter schools that operate as their own LEA; (3) charter management organizations or charter school authorizers; (4) institutions of higher education (IHEs) or Tribal Colleges or Universities; (5) nonprofit organizations; (6) entities experienced in educational savings or assisting low-income students attain higher education; (7) consortia of two or more of these entities; and (8) consortia of one or more of these entities and a public, charter, or Indian school. Describes an American Dream Account as a personal online account for low-income students that monitors their progress toward higher education and includes a college savings account. Requires American Dream Accounts to provide students with opportunities, either online or in person, to: (1) attain financial literacy; (2) learn about preparing for enrollment in an IHE; and (3) identify their skills or interests, including career interests. Requires grantees, subject to federal privacy laws and regulations, to allow vested stakeholders to have secure Internet access to an American Dream Account, but not the college savings account portion of that Account. Prohibits grantees from using their grant to provide the initial deposit into the college savings account portion of a student's American Dream Account. Prohibits the funds in those college savings accounts from being considered in making federal student financial aid determinations.