§Why CasetextPricing

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

80 Fed. Reg. 45966 (Aug. 3, 2015)

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

Download PDF
Federal RegisterAug 3, 2015
80 Fed. Reg. 45966 (Aug. 3, 2015)

AGENCY:

Federal Student Aid, Department of Education.

ACTION:

Notice; correction.

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.

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

If the age of the older parent is And they are
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

If the age of the student is And they are
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 Without Dependents Other Than a Spouse

If the age of the student is And they are
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

Accessible Format: Individuals with disabilities can obtain this document in an accessible format (e.g., braille, large print, audiotape, or compact disc) on request to the contact person listed under FOR FURTHER INFORMATION CONTACT.

Electronic Access to This Document: The official version of this document is the document published in the Federal Register. Free Internet access to the official edition of the Federal Register and the Code of Federal Regulations is available via the Federal Digital System at: www.gpo.gov/fdsys. At this site you can view this document, as well as all other documents of this Department published in the Federal Register, in text or Adobe Portable Document Format (PDF). To use PDF you must have Adobe Acrobat Reader, which is available free at this site.

You may also access documents of the Department published in the Federal Register by using the article search feature at: www.federalregister.gov.

Specifically, through the advanced search feature at this site, you can limit your search to documents published by the Department.

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