[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
------------------------------------------------------------------------
                                                And they are
 If the age of the older parent 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
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 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