§ 1087qq. Student aid index for independent students with dependents other than a spouse

• (a)
  • (1) For each independent student with dependents other than a spouse, the student aid index is equal to the amount determined by—
    • (A) computing adjusted available income by adding—
      • (i) the family’s available income (determined in accordance with subsection (b)); and
      • (ii) the family’s available assets (determined in accordance with subsection (c));
    • (B) assessing such adjusted available income in accordance with an assessment schedule set forth in subsection (d); and
    • (C) considering such assessment resulting under subparagraph (B) as the amount determined under this subsection.
  • (2) If the sum determined under paragraph (1) with respect to an independent student with 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 deducting from total income (as defined in section 1087vv of this title )—
    • (A) Federal income taxes;
    • (B) an allowance for payroll taxes, determined in accordance with paragraph (2);
    • (C) an income protection allowance, determined in accordance with paragraph (3); and
    • (D) an employment expense allowance, determined in accordance with paragraph (4).
  • (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 income protection allowance shall equal the amount determined in the following table, as adjusted by the Secretary pursuant to section 1078rr(b) of this title :
    • (A) In the case of a married independent student with dependents: Income Protection Allowance (to be adjusted for 2023–2024 and succeeding years) Family Size (including student) Amount 3 $46,140 4 $56,970 5 $67,230 6 $78,620 For each additional add $8,880.
    • (B) In the case of a single independent student with dependents: Income Protection Allowance (to be adjusted for 2023–2024 and succeeding years) Family Size (including student) Amount 2 $43,920 3 $54,690 4 $67,520 5 $79,680 6 $93,180 For each additional add $10,530.
  • (4) The employment expense allowance is equal to the lesser of $4,000 or 35 percent of the student’s earned income or the combined earned income of the student and the student’s spouse, if applicable (as adjusted by the Secretary pursuant to section 1087rr(g) of this title ).
• (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 1087vv(f) of this title) and the asset protection allowance (determined in accordance with paragraph (2)); multiplied by
      • (ii) 7 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) The assessment of adjusted available income (as determined under subsection (a)(1) and hereafter in this subsection referred to as “AAI”) is calculated based on the following table (as revised by the Secretary pursuant to section 1087rr(e) of this title ): Assessment From Adjusted Available Income If AAI is— Then the assessment is— Less than − $6,820 − $1,500 − $6,820 to $17,400 22% of AAI $17,401 to $21,800 $3,828 + 25% of AAI over $17,400 $21,801 to $26,200 $4,928 + 29% of AAI over $21,800 $26,201 to $30,700 $6,204 + 34% of AAI over $26,200 $30,701 to $35,100 $7,734 + 40% of AAI over $30,700 $35,101 or more $9,494 + 47% of AAI over $35,100.
• (e) 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.