Center for Social Development, wilt occurs when a young person who expects to graduate from a 4-year institution of higher education has not yet attended such institution by the ages of 19 to 22. (10) Children who have savings dedicated for attendance at an institution of higher education are 4 times more likely to attend a 4-year institution of higher education and avoid wilt . (11) In 2013, only 2.5 percent of all families had a 529 college savings account and the majority of these families had higher incomes. Only 0.3 percent of families with incomes in the 0–49.9 percentile had a 529 college savings account. (12) According to the Center for Social Development, compared to those without college savings, children from low- and moderate-income households with college savings from $1 to $499 were more than three times more likely to attend college and more than four times more likely to graduate from college. 3. Definitions In this Act: (1) American Dream Account The term American Dream Account means a personal online account for low-income students that monitors higher education readiness and includes a college savings account. (2) Appropriate committees of Congress The term appropriate committees of Congress means the Committee on Health, Education, Labor, and Pensions, the Committee on Appropriations, and the Committee on Finance of the Senate, and the Committee on Education and the Workforce, the Committee on Appropriations, and the Committee on Ways and Means of the House of Representatives, as well as any other committee of the Senate or House of Representatives that the Secretary determines appropriate. (3) Charter school The term charter school has the meaning given such term in section 4310 of the Elementary and Secondary Education Act of 1965 ( 20 U.S.C. 7221i ). (4) College savings account The term college savings account means a trust created or organized exclusively for the purpose of paying the qualified expenses of only an individual who, when the trust is created or organized, has not obtained 18