Sec. 476. STUDENT AID INDEX FOR INDEPENDENT STUDENTS WITHOUT DEPENDENTS OTHER THAN A SPOUSE
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## SEC. 476 STUDENT AID INDEX FOR INDEPENDENT STUDENTS WITHOUT DEPENDENTS OTHER THAN A SPOUSE **[**[20 U.S.C. 1087pp](/us/usc/t20/s1087pp)**]** ###
(a)Computation of Student Aid Index ####
(1)In general For each independent student without dependents other than a spouse, the student aid index is equal to (except as provided in paragraph (2)) the sum of— #####
(A)the family’s available income (determined in accordance with subsection (b)); and #####
(B)the family’s available assets (determined in accordance with subsection (c)). ####
(2)Exception If the sum determined under paragraph
(1)with respect to an independent student without dependents other than a spouse is less than – $1,500, the student aid index for the independent student shall be – $1,500. ###
(b)Family’s Available Income ####
(1)In general The family’s available income is determined by— #####
(A)deducting from total income (as defined in section 480)— ######
(i)Federal income taxes; ######
(ii)an allowance for payroll taxes, determined in accordance with paragraph (2); ######
(iii)an income protection allowance that is equal to— ######
(I)in the case of a single independent student without dependents, $14,630, as adjusted pursuant to section 478(b); and ######
(II)in the case of a married independent student without dependents, $23,460, as adjusted pursuant to section 478(b); and ######
(iv)in the case of a married independent student, an employment expense allowance, as determined in accordance with paragraph (3); and #####
(B)multiplying the amount determined under subparagraph
(A)by 50 percent. ####
(2)Allowance for payroll taxes The allowance for payroll taxes is equal to the sum of— #####
(A)the total amount earned by the student (and spouse, if appropriate), multiplied by the rate of tax under section 3101(b) of the Internal Revenue Code of 1986; and #####
(B)the amount earned by the student (and spouse, if appropriate) that does not exceed such contribution and benefit base (twice such contribution and benefit base, in the case of a joint return) for the year of the earnings, multiplied by the rate of tax applicable to such earnings under section 3101(a) of the Internal Revenue Code of 1986. ####
(3)Employment expense allowance The employment expense allowance is equal to the following: #####
(A)If the student is married, such allowance is equal to the lesser of $4,000 or 35 percent of the couple’s combined earned income (as adjusted by the Secretary pursuant to section 478(g)). #####
(B)If the student is not married, the employment expense allowance is zero. ###
(c)Family’s Available Assets ####
(1)In general #####
(A)Determination Except as provided in subparagraph (B), the family’s available assets are equal to— ######
(i)the difference between the family’s assets (as defined in section 480(f)) and the asset protection allowance (determined in accordance with paragraph (2)); multiplied by ######
(ii)20 percent. #####
(B)Not less than zero The family’s available assets under this subsection shall not be less than zero. ####
(2)Asset protection allowance The asset protection allowance is calculated based on the following table (as revised by the Secretary pursuant to section 478(d)):Asset Protection Allowances for Families and Students If the age of the student is—And the student ismarriedsinglethen the allowance is— 25 or less $0 $026 $400 $10027 $700 $30028 $1,100 $40029 $1,500 $60030 $1,800 $70031 $2,200 $80032 $2,600 $1,00033 $2,900 $1,10034 $3,300 $1,30035 $3,700 $1,40036 $4,000 $1,50037 $4,400 $1,70038 $4,800 $1,80039 $5,100 $2,00040 $5,500 $2,10041 $5,600 $2,20042 $5,700 $2,20043 $5,900 $2,30044 $6,000 $2,30045 $6,200 $2,40046 $6,300 $2,40047 $6,500 $2,50048 $6,600 $2,50049 $6,800 $2,60050 $7,000 $2,70051 $7,100 $2,70052 $7,300 $2,80053 $7,500 $2,90054 $7,700 $2,90055 $7,900 $3,00056 $8,100 $3,10057 $8,400 $3,10058 $8,600 $3,20059 $8,800 $3,30060 $9,100 $3,40061 $9,300 $3,50062 $9,600 $3,60063 $9,900 $3,70064 $10,200 $3,80065 or more $10,500 $3,900. ###
(d)Computations in Case of Separation, Divorce, or Death In the case of a student who is divorced or separated, or whose spouse has died, the spouse’s income and assets shall not be considered in determining the family’s available income or assets.
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Sec. 476
STUDENT AID INDEX FOR INDEPENDENT STUDENTS WITHOUT DEPENDENTS OTHER THAN A SPOUSE
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