Sec. 3. Report to Congress
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Not later than July 1, 2028, and on an annual basis thereafter, the Secretary of Education shall prepare and submit to Congress a report on the impacts of the amendments made by this Act, which shall include the following information with respect to the most recent award year for which information is available: The number and percentage of dependent students whose student aid index computations under subsection
(a)of section 475 of the Higher Education Act of 1965 ( 20 U.S.C. 1087oo ) include the subtraction under subsection
(c)of such section 475 of a student loan allowance determined under paragraph
(5)of such subsection (c), as added by section 2, from the parents’ total income, disaggregated— by students who are eligible for a Federal Pell Grant under section 401 of the Higher Education Act of 1965 ( 20 U.S.C. 1070a ) for such award year; and by students who are not eligible for such a Federal Pell Grant. The average amount of the student loan allowance described in paragraph (1).
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