[Federal Register Volume 80, Number 148 (Monday, August 3, 2015)]
[Notices]
[Pages 45966-45969]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2015-18991]
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DEPARTMENT OF EDUCATION
Federal Need Analysis Methodology for the 2016-17 Award Year--
Federal Pell Grant, Federal Perkins Loan, Federal Work-Study, Federal
Supplemental Educational Opportunity Grant, William D. Ford Federal
Direct Loan, Iraq and Afghanistan Service Grant and TEACH Grant
Programs; Correction
AGENCY: Federal Student Aid, Department of Education.
ACTION: Notice; correction.
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Catalog of Federal Domestic Assistance (CFDA) Numbers: 84.063;
84.038; 84.033; 84.007; 84.268; 84.408; 84.379.
SUMMARY: On May 27, 2015, we published in the Federal Register a notice
announcing the annual updates to the tables used in the statutory
Federal Need Analysis Methodology that determines a student's expected
family contribution for award year 2016-17. Section 478 of the Higher
Education Act of 1965, as amended, requires the Secretary to annually
update four tables for price inflation. This notice corrects the
Education Savings and Asset Protection Allowance tables.
[[Page 45967]]
FOR FURTHER INFORMATION CONTACT: Marya Dennis, U.S. Department of
Education, Room 63G2, Union Center Plaza, 830 First Street NE.,
Washington, DC 20202-5454. Telephone: (202) 377-3385.
If you use a telecommunications device for the deaf (TDD) or a text
telephone (TTY), call the Federal Relay Service, toll free, at 1-800-
877-8339.
SUPPLEMENTARY INFORMATION:
Correction
In the Federal Register of May 27, 2015 (80 FR 30217), we replace
the tables included in section ``3. Education Savings and Asset
Protection Allowance'' on pages 30218 through 30221 with the following
tables. This allowance protects a portion of Net Worth (assets less
debts) from being considered available for postsecondary educational
expenses. There are three asset protection allowance tables: One for
parents of dependent students, one for independent students with
dependents other than a spouse, and one for independent students
without dependents other than a spouse.
Parents of Dependent Students
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And they are
If the age of the older parent is -------------------------------------
Married Single
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Then the education savings and asset
protection allowance is--
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25 or less........................ 0 0
26................................ 1,000 500
27................................ 2,100 1,100
28................................ 3,100 1,600
29................................ 4,100 2,100
30................................ 5,200 2,600
31................................ 6,200 3,200
32................................ 7,200 3,700
33................................ 8,300 4,200
34................................ 9,300 4,700
35................................ 10,300 5,300
36................................ 11,400 5,800
37................................ 12,400 6,300
38................................ 13,400 6,800
39................................ 14,500 7,400
40................................ 15,500 7,900
41................................ 15,900 8,100
42................................ 16,300 8,300
43................................ 16,600 8,500
44................................ 17,000 8,600
45................................ 17,400 8,800
46................................ 17,800 9,000
47................................ 18,300 9,200
48................................ 18,700 9,400
49................................ 19,200 9,700
50................................ 19,700 9,900
51................................ 20,200 10,100
52................................ 20,700 10,400
53................................ 21,300 10,600
54................................ 21,800 10,900
55................................ 22,400 11,100
56................................ 23,000 11,400
57................................ 23,700 11,700
58................................ 24,300 12,000
59................................ 25,000 12,300
60................................ 25,700 12,600
61................................ 26,400 12,900
62................................ 27,200 13,200
63................................ 27,900 13,600
64................................ 28,800 13,900
65 or older....................... 29,600 14,300
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Independent Students With Dependents Other Than a Spouse
------------------------------------------------------------------------
And they are
If the age of the student is -------------------------------------
Married Single
------------------------------------------------------------------------
Then the education savings and asset
protection allowance is--
------------------------------------------------------------------------
25 or less........................ 0 0
26................................ 1,000 500
27................................ 2,100 1,100
28................................ 3,100 1,600
[[Page 45968]]
29................................ 4,100 2,100
30................................ 5,200 2,600
31................................ 6,200 3,200
32................................ 7,200 3,700
33................................ 8,300 4,200
34................................ 9,300 4,700
35................................ 10,300 5,300
36................................ 11,400 5,800
37................................ 12,400 6,300
38................................ 13,400 6,800
39................................ 14,500 7,400
40................................ 15,500 7,900
41................................ 15,900 8,100
42................................ 16,300 8,300
43................................ 16,600 8,500
44................................ 17,000 8,600
45................................ 17,400 8,800
46................................ 17,800 9,000
47................................ 18,300 9,200
48................................ 18,700 9,400
49................................ 19,200 9,700
50................................ 19,700 9,900
51................................ 20,200 10,100
52................................ 20,700 10,400
53................................ 21,300 10,600
54................................ 21,800 10,900
55................................ 22,400 11,100
56................................ 23,000 11,400
57................................ 23,700 11,700
58................................ 24,300 12,000
59................................ 25,000 12,300
60................................ 25,700 12,600
61................................ 26,400 12,900
62................................ 27,200 13,200
63................................ 27,900 13,600
64................................ 28,800 13,900
65 or older....................... 29,600 14,300
------------------------------------------------------------------------
Independent Students Without Dependents Other Than a Spouse
------------------------------------------------------------------------
And they are
If the age of the student is -------------------------------------
Married Single
------------------------------------------------------------------------
Then the education savings and asset
protection allowance is--
------------------------------------------------------------------------
25 or less........................ 0 0
26................................ 1,000 500
27................................ 2,100 1,100
28................................ 3,100 1,600
29................................ 4,100 2,100
30................................ 5,200 2,600
31................................ 6,200 3,200
32................................ 7,200 3,700
33................................ 8,300 4,200
34................................ 9,300 4,700
35................................ 10,300 5,300
36................................ 11,400 5,800
37................................ 12,400 6,300
38................................ 13,400 6,800
39................................ 14,500 7,400
40................................ 15,500 7,900
41................................ 15,900 8,100
42................................ 16,300 8,300
43................................ 16,600 8,500
44................................ 17,000 8,600
45................................ 17,400 8,800
46................................ 17,800 9,000
47................................ 18,300 9,200
[[Page 45969]]
48................................ 18,700 9,400
49................................ 19,200 9,700
50................................ 19,700 9,900
51................................ 20,200 10,100
52................................ 20,700 10,400
53................................ 21,300 10,600
54................................ 21,800 10,900
55................................ 22,400 11,100
56................................ 23,000 11,400
57................................ 23,700 11,700
58................................ 24,300 12,000
59................................ 25,000 12,300
60................................ 25,700 12,600
61................................ 26,400 12,900
62................................ 27,200 13,200
63................................ 27,900 13,600
64................................ 28,800 13,900
65 or older....................... 29,600 14,300
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Program Authority: 20 U.S.C. 1087rr.
Dated: July 28, 2015.
James W. Runcie,
Chief Operating Officer Federal Student Aid.
[FR Doc. 2015-18991 Filed 7-31-15; 8:45 am]
BILLING CODE 4000-01-P