80 FR 148 pgs. 45966-45969 - 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

Next Article Next

Type: NOTICEVolume: 80Number: 148Pages: 45966 - 45969

FR document: [FR Doc. 2015-18991 Filed 7-31-15; 8:45 am]

Agency: Education Department

Official PDF Version: PDF Version

Pages: 45966, 45967, 45968, 45969

[top]

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.

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.

[top]

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.

If the age of the older parent is	And they are	Married
	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

[top]

If the age of the student is	And they are	Married
	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

[top]

If the age of the student is	And they are	Married
	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