Government launches savings account for low-income high school students

The program aims to encourage students to continue their schooling and will have a fund of up to 20 billion reais
16 de fevereiro de 2024 em TINO In English
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With the aim of reducing the number of students that drop out of school, the federal government released, on November 28, a Provisional Measure (MP) that creates a savings account to encourage low-income high school students to stay at school and complete their education.

“We lose thousands of young people during high school who drop out of school, sometimes due to the need to work from an early age. With this bursary, the student will receive a sum every month, and another part will be saved for the end of each academic stage”, stated Camilo Santana, Minister of Education, during the Conversa Com o Presidente program.

To finance the project, the government initially provided a fund of up to 20 billion reais. However, this amount may be limited to 6 billion reais. The fund will be administered by the Caixa Econômica Federal, with private and public contributions, such as revenue from oil and gas exploration. According to legislation, pre-salt resources can be used for public education and towards reducing inequalities.

The value will be deposited in an account opened in the name of the student. To participate in the program, high school students from public schools must meet some requirements:

– Have a low income;

– Have a minimum school attendance;

– Complete each academic year successfully;

– Enroll in the following year (with the exception of the 3rd, and final, year);

– Participate in tests such as the National High School Exam (Enem).

Students from families registered in the Cadastro Único for federal government social programs will have priority. The value of the savings accounts will not be included in family income calculations for the receipt of other benefits.

Next steps

The Provisional Measure is immediately valid, but to become law, it must be approved by Congress within 120 days.

In parallel, the Ministries of Education and Finance will define the regulations of the program and will be responsible for establishing values, payment methods, operationalization and the use of the savings accounts.

Sources: Ministério da Educação and Agência Brasil.

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