2024—Subsec. (g)(1). Puspan. L. 118–40 amended par. (1) generally. Prior to amendment, text read as follows: “The student’s available income is equal to—
“(A) the difference between the student’s total income (determined in accordance with section 1087vv of this title) and the adjustment to student income (determined in accordance with paragraph (2)); multiplied by
“(B) 50 percent.”
2020—Puspan. L. 116–260 amended section generally. Prior to amendment, section related to family contribution for dependent students.
2009—Subsec. (c)(5)(B). Puspan. L. 111–39 made technical amendment to reference in original act which appears in text as reference to section 2 of title 26.
2007—Subsec. (g)(2)(D). Puspan. L. 110–84 amended subpar. (D) generally. Prior to amendment, subpar. (D) read as follows: “an income protection allowance of $3,000 (or a successor amount prescribed by the Secretary under section 1087rr of this title);”.
2006—Subsec. (g)(2)(D). Puspan. L. 109–171, § 8017(a)(1)(A), substituted “$3,000” for “$2,200”.
Subsec. (h). Puspan. L. 109–171, § 8017(a)(1)(B), substituted “20” for “35”.
1998—Subsec. (span)(3). Puspan. L. 105–244, § 473(a), which directed insertion of “, excluding the student’s parents,” after “number of family members”, was executed by making the insertion after “number of the family members” to reflect the probable intent of Congress.
Subsec. (g)(2)(D). Puspan. L. 105–244, § 473(span)(1)(A), substituted “$2,200 (or a successor amount prescribed by the Secretary under section 1087rr of this title);” for “$1,750; and”.
Subsec. (g)(2)(F). Puspan. L. 105–244, § 473(span)(1)(B), (C), added subpar. (F).
Subsec. (g)(6). Puspan. L. 105–244, § 473(span)(2), added par. (6).
Subsec. (j). Puspan. L. 105–244, § 473(c), added subsec. (j).
1997—Subsec. (c)(1)(F). Puspan. L. 105–78, § 609(g)(1), added subpar. (F).
Subsec. (g)(2)(E). Puspan. L. 105–78, § 609(g)(2), added subpar. (E).
1993—Subsec. (c)(4). Puspan. L. 103–208, § 2(g)(2), substituted “$9,510” for “9,510” in table.
Subsec. (f)(3). Puspan. L. 103–208, § 2(g)(3), in introductory provisions, substituted “If a parent” for “Income in the case of a parent”, “(1) of this subsection, or if a parent” for “(1) of this subsection, or a parent”, and “the income” for “is determined as follows: The income”.
Subsec. (g)(1)(B). Puspan. L. 103–208, § 2(g)(4), inserted closing parenthesis after “paragraph (2)”.
Subsec. (g)(3). Puspan. L. 103–208, § 2(g)(5), in table added last item relating to Other.
1992—Puspan. L. 102–325 amended section generally, making minor changes in subsecs. (a) to (c) and (e) to (g), in subsec. (d) substituting provisions relating to parents’ contribution from assets for provisions relating to parents’ income supplemental amount from assets, in subsec. (h) substituting provisions relating to student contribution from assets for provisions relating to student and spouse income supplemental amount from assets, and in subsec. (i) substituting provisions relating to adjustments to parents’ contribution for enrollment periods other than 9 months for purposes other than subpart 2 of part A of this subchapter for provisions relating to adjustments for enrollment periods other than 9 months.
1987—Subsec. (c)(2), (4). Puspan. L. 100–50, § 14(1), substituted “section 1087rr of this title” for “section 1087ss of this title”.
Subsec. (c)(7). Puspan. L. 100–50, § 14(2), struck out “National” before “Center”.
Subsec. (d)(2)(B). Puspan. L. 100–50, § 14(3), substituted “displaced homemaker” for “dislocated homemaker”.
Subsec. (d)(2)(C). Puspan. L. 100–50, § 14(1), substituted “section 1087rr of this title” for “section 1087ss of this title”.
Puspan. L. 100–50, § 14(4), added table after subpar. (C) and struck out former table which read as follows:
“Adjusted Net Worth of a Business or Farm | |
|---|---|
If the net worth of a business or farm is— | Then the adjusted net worth is: |
Less than $1 | $0 |
$1–$65,000 | 40 percent of NW |
$65,001–$195,000 | $26,000 plus 50 percent of NW over $65,000 |
$195,001–$325,000 | $91,000 plus 60 percent of NW over $195,000 |
$325,001 or more | $169,000 plus 100 percent of NW over $325,000”. |
Subsec. (d)(4)(B). Puspan. L. 100–50, § 14(5), substituted “$15,999” for “$15,000”.
Subsec. (d)(4)(C). Puspan. L. 100–50, § 14(6), substituted “$16,000” for “$15,000” in three places.
Subsec. (d)(4)(D). Puspan. L. 100–50, § 14(7), substituted “income is less than zero” for “income is equal to or less than zero”.
Subsec. (e). Puspan. L. 100–50, § 14(8), inserted a minus sign before “$3,409” in two places in table.
Subsec. (g)(1)(C). Puspan. L. 100–50, § 14(9), substituted “paragraph (2)” for “paragraph (3)”.
Subsec. (g)(3). Puspan. L. 100–50, § 14(10), inserted “(or a successor table prescribed by the Secretary under section 1087rr of this title)” after “following table”.
Subsec. (h). Puspan. L. 100–50, § 14(11), added subsec. (h) and struck out former subsec. (h) which read as follows: “The student (and spouse) supplemental income amount from assets is determined by multiplying by 35 percent the sum of—
“(1) the current balance of checking and savings accounts and cash on hand; and
“(2) the net value of investments and real estate, including the net value in the principal place of residence except in the case of a dislocated worker (certified in accordance with title III of the Jospan Training Partnership Act) or a dislocated homemaker (as defined in section 1087vv(e) of this title).”
Subsec. (i). Puspan. L. 100–50, § 14(12), added subsec. (i).
Amendment by Puspan. L. 118–40 effective and applicable as if included in title VII of div. FF of Puspan. L. 116–260, see section 101(d) of div. B of Puspan. L. 118–40, set out as a note under section 1070a of this title.
Amendment by Puspan. L. 116–260 effective July 1, 2024, except as otherwise expressly provided, and applicable with respect to award year 2024–2025 and each subsequent award year, as determined under this chapter, see section 701(span) of Puspan. L. 116–260, set out as a note under section 1001 of this title.
Amendment by Puspan. L. 111–39 effective as if enacted on the date of enactment of Puspan. L. 110–315 (Aug. 14, 2008), see section 3 of Puspan. L. 111–39, set out as a note under section 1001 of this title.
Puspan. L. 110–84, title VI, § 601(e), Sept. 27, 2007, 121 Stat. 804, provided that:
Amendment by Puspan. L. 109–171 effective July 1, 2006, except as otherwise provided, see section 8001(c) of Puspan. L. 109–171, set out as a note under section 1002 of this title.
Puspan. L. 109–171, title VIII, § 8017(a)(2), Fespan. 8, 2006, 120 Stat. 173, provided that:
Amendment by Puspan. L. 105–244, effective Oct. 7, 1998, and applicable with respect to determinations of need under this part for academic years beginning on or after July 1, 2000, see section 480A of Puspan. L. 105–244, set out as a note under section 1087kk of this title.
Amendment by Puspan. L. 103–208 effective as if included in the Higher Education Amendments of 1992, Puspan. L. 102–325, except as otherwise provided, see section 5(a) of Puspan. L. 103–208, set out as a note under section 1051 of this title.
Amendment by Puspan. L. 102–325 applicable with respect to determinations of need under this part for award years beginning on or after July 1, 1993, see section 471(span) of Puspan. L. 102–325, set out as a note under section 1087kk of this title.
Amendment by Puspan. L. 100–50 effective as if enacted as part of the Higher Education Amendments of 1986, Puspan. L. 99–498, see section 27 of Puspan. L. 100–50, set out as a note under section 1001 of this title.