§ 1087pp. Student aid index for independent students without dependents other than a spouse

• (a)
  • (1) 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) 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)
  • (1) The family’s available income is determined by—
    • (A) deducting from total income (as defined in section 1087vv of this title )—
      • (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 1078rr(b) of this title ; and
        • (II) in the case of a married independent student without dependents, $23,460, as adjusted pursuant to section 1078rr(b) of this title ; 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) 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 title 26 ; 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 title 26 .
  • (3) 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 1087rr(g) of this title ).
    • (B) If the student is not married, the employment expense allowance is zero.
• (c)
  • (1)
    • (A) 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 1087vv(f) of this title ) and the asset protection allowance (determined in accordance with paragraph (2)); multiplied by
      • (ii) 20 percent.
    • (B) The family’s available assets under this subsection shall not be less than zero.
  • (2) The asset protection allowance is calculated based on the following table (as revised by the Secretary pursuant to section 1087rr(d) of this title ): Asset Protection Allowances for Families and Students If the age of the student is— And the student is married single then the allowance is— 25 or less $ 0 $0 26 $400 $100 27 $700 $300 28 $1,100 $400 29 $1,500 $600 30 $1,800 $700 31 $2,200 $800 32 $2,600 $1,000 33 $2,900 $1,100 34 $3,300 $1,300 35 $3,700 $1,400 36 $4,000 $1,500 37 $4,400 $1,700 38 $4,800 $1,800 39 $5,100 $2,000 40 $5,500 $2,100 41 $5,600 $2,200 42 $5,700 $2,200 43 $5,900 $2,300 44 $6,000 $2,300 45 $6,200 $2,400 46 $6,300 $2,400 47 $6,500 $2,500 48 $6,600 $2,500 49 $6,800 $2,600 50 $7,000 $2,700 51 $7,100 $2,700 52 $7,300 $2,800 53 $7,500 $2,900 54 $7,700 $2,900 55 $7,900 $3,000 56 $8,100 $3,100 57 $8,400 $3,100 58 $8,600 $3,200 59 $8,800 $3,300 60 $9,100 $3,400 61 $9,300 $3,500 62 $9,600 $3,600 63 $9,900 $3,700 64 $10,200 $3,800 65 or more $10,500 $3,900.
• (d) 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.