Federal Pell Grant, Academic Competitiveness Grant, National Science and Mathematics Access To Retain Talent Grant, Federal Perkins Loan, Federal Work-Study, Federal Supplemental Educational Opportunity Grant, Federal Family Education Loan, and William D. Ford Federal Direct Loan Programs, 30899-30903 [E6-8403]

Download as PDF 30899 Federal Register / Vol. 71, No. 104 / Wednesday, May 31, 2006 / Notices Statewide AT Programs report annual data on their activities funded under the Assistive Technology Act of 1998, as amended (AT Act). The data reported by states is required under the AT Act, and will be used for reporting to Congress, for program planning, and for assessing program performance consistent with GPRA and PART. Requests for copies of the proposed information collection request may be accessed from http://edicsweb.ed.gov, by selecting the ‘‘Browse Pending Collections’’ link and by clicking on link number 3125. When you access the information collection, click on ‘‘Download Attachments’’ to view. Written requests for information should be addressed to U.S. Department of Education, 400 Maryland Avenue, SW., Potomac Center, 9th Floor, Washington, DC 20202–4700. Requests may also be electronically mailed to ICDocketMgr@ed.gov or faxed to 202– 245–6623. Please specify the complete title of the information collection when making your request. Comments regarding burden and/or the collection activity requirements should be electronically mailed to ICDocketMgr@ed.gov. Individuals who use a telecommunications device for the deaf (TDD) may call the Federal Information Relay Service (FIRS) at 1– 800–877–8339. [FR Doc. E6–8383 Filed 5–30–06; 8:45 am] BILLING CODE 4000–01–P DEPARTMENT OF EDUCATION Federal Pell Grant, Academic Competitiveness Grant, National Science and Mathematics Access To Retain Talent Grant, Federal Perkins Loan, Federal Work-Study, Federal Supplemental Educational Opportunity Grant, Federal Family Education Loan, and William D. Ford Federal Direct Loan Programs Federal Student Aid, Department of Education. ACTION: Notice of revision of the Federal Need Analysis Methodology for the 2007–2008 award year. AGENCY: SUMMARY: The Secretary of Education announces the annual updates to the tables that will be used in the statutory ‘‘Federal Need Analysis Methodology’’ to determine a student’s expected family contribution (EFC) for award year 2007– 2008 for the student financial aid programs authorized under Title IV of the Higher Education Act of 1965, as amended (HEA). An EFC is the amount a student and his or her family may reasonably be expected to contribute toward the student’s postsecondary educational costs for purposes of determining financial aid eligibility. The Title IV programs include the Federal Pell Grant, Academic Competitiveness Grant, National Science and Mathematics Access to Retain Talent Grant, campus-based (Federal Perkins Loan, Federal WorkStudy, and Federal Supplemental Educational Opportunity Grant Programs), Federal Family Education Loan, and William D. Ford Federal Direct Loan Programs (Title IV HEA Programs). FOR FURTHER INFORMATION CONTACT: Ms. Marya Dennis, Management and Program Analyst, U.S. Department of Education, Union Center Plaza, 830 First Street, NE., Washington, DC 20202. Telephone: (202) 377–3385. If you use a telecommunications device for the deaf (TDD), you may call the Federal Relay Service (FRS) at 1–800–877–8339. Individuals with disabilities may obtain this document in an alternative format (e.g., Braille, large print, audiotape or computer diskette) on request to the contact person listed in the preceding paragraph. SUPPLEMENTARY INFORMATION: Part F of Title IV of the HEA specifies the criteria, data elements, calculations, and tables used in the Federal Need Analysis Methodology EFC calculations. Section 478 of Part F of the HEA requires the Secretary to adjust four of the tables—the Income Protection Allowance, the Adjusted Net Worth of a Business or Farm, the Education Savings and Asset Protection Allowance, and the Assessment Schedules and Rates—each award year to adjust for general price inflation. The changes are based, in general, upon increases in the Consumer Price Index. For award year 2007–2008 the Secretary is charged with updating the income protection allowance, adjusted net worth of a business or farm, and the assessment schedules and rates to account for inflation that took place between December 2005 and December 2006. However, because the Secretary must publish these tables before December 2006, the increases in the tables must be based upon a percentage equal to the estimated percentage increase in the Consumer Price Index for All Urban Consumers for 2005. The Secretary estimates that the increase in the Consumer Price Index for All Urban Consumers (CPI–U) for the period December 2005 through December 2006 will be 2.8 percent. Additionally, the Higher Education Reconciliation Act of 2005 (Pub. L. 109–171) modified the updating procedure for the income protection allowance table for independent students with dependents other than a spouse. These table values are increased by the greater of 5 percent or the Secretary’s estimated increase in the CPI–U (2.8 percent). The updated tables are in sections 1, 2, and 4 of this notice. The Secretary must also revise, for each award year, the education savings and asset protection allowances as provided for in section 478(d) of the HEA. The Education Savings and Asset Protection Allowance table for award year 2007–2008 has been updated in section 3 of this notice. Section 478(h) of the HEA also requires the Secretary to increase the amount specified for the Employment Expense Allowance, adjusted for inflation. This calculation is based upon increases in the Bureau of Labor Statistics budget of the marginal costs for a two-worker compared to a one-worker family for food away from home, apparel, transportation, and household furnishings and operations. The Employment Expense Allowance table for award year 2007–2008 has been updated in section 5 of this notice. The HEA provides for the following annual updates: 1. Income Protection Allowance. This allowance is the amount of living expenses associated with the maintenance of an individual or family that may be offset against the family’s income. It varies by family size. The income protection allowance for the dependent student is $3,000. The income protection allowances for parents of dependent students for award year 2007–2008 is: jlentini on PROD1PC65 with NOTICES PARENTS OF DEPENDENT STUDENTS Number in college Family size 1 2 ............................................................................................................... 3 ............................................................................................................... VerDate Aug<31>2005 17:52 May 30, 2006 Jkt 208001 PO 00000 Frm 00043 Fmt 4703 2 $15,000 18,680 Sfmt 4703 $12,430 16,130 3 4 5 .................... $13,560 .................... .................... .................... .................... E:\FR\FM\31MYN1.SGM 31MYN1 30900 Federal Register / Vol. 71, No. 104 / Wednesday, May 31, 2006 / Notices PARENTS OF DEPENDENT STUDENTS—Continued Number in college Family size 1 4 ............................................................................................................... 5 ............................................................................................................... 6 ............................................................................................................... 2 3 23,070 27,220 31,840 20,510 24,660 29,280 17,950 22,100 26,720 The income protection allowances for independent students with dependents For each additional family member add $3,590. For each additional college student subtract $2,550. 4 $15,390 19,540 24,160 5 .................... $16,980 21,600 other than a spouse for award year 2007–2008 is: INDEPENDENT STUDENTS WITH DEPENDENTS OTHER THAN A SPOUSE Number in college Family size 1 2 3 4 5 6 ............................................................................................................... ............................................................................................................... ............................................................................................................... ............................................................................................................... ............................................................................................................... For each additional family member add $3,670. For each additional college student subtract $2,610. The income protection allowances for single independent students and independent students without dependents other than a spouse for award year 2007–2008 are: 2 $15,320 19,070 23,560 27,800 32,510 3 $12,700 16,470 20,940 25,170 29,890 4 5 .................... $13,850 18,330 22,570 27,290 .................... .................... $15,710 19,950 24,660 .................... .................... .................... $17,340 22,060 income produced from these assets is already assessed in another part of the formula; and (2) the formula protects a Single ................ 1 $6,050 portion of the value of the assets. The Married .............. 2 6,050 portion of these assets included in the Married .............. 1 9,700 contribution calculation is computed according to the following schedule. 2. Adjusted Net Worth (NW) of a This schedule is used for parents of Business or Farm. A portion of the full dependent students, independent net value of a farm or business is students without dependents other than excluded from the calculation of an a spouse, and independent students expected contribution because—(1) The with dependents other than a spouse. Number in college Marital status IPA If the net worth of a business or farm is— Then the adjusted net worth is— Less than $1 ..................................................................................................................................................... $1 to $105,000 .................................................................................................................................................. $105,001 to $320,000 ....................................................................................................................................... $320,001 to $535,000 ....................................................................................................................................... jlentini on PROD1PC65 with NOTICES $535,001 or more .............................................................................................................................................. 3. Education Savings and Asset Protection Allowance. 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 without dependents other than a spouse, and one for independent students with dependents other than a spouse. VerDate Aug<31>2005 17:52 May 30, 2006 Jkt 208001 DEPENDENT STUDENTS $0 $0 + 40% of NW. $42,000 + 50% of NW over $105,000. $149,500 + 60% of NW over $320,000. $278,500 + 100% of NW over $535,000. DEPENDENT STUDENTS—Continued And there are And there are Two parents If the age of the older parent is— then the education savings and asset protection allowance is— 25 26 27 28 29 PO 00000 or less .......... ...................... ...................... ...................... ...................... Frm 00044 Fmt 4703 0 2,500 5,100 7,600 10,200 Sfmt 4703 Two parents One parent 0 1,000 2,100 3,100 4,200 30 31 32 33 34 35 36 37 38 39 40 41 ...................... ...................... ...................... ...................... ...................... ...................... ...................... ...................... ...................... ...................... ...................... ...................... E:\FR\FM\31MYN1.SGM 31MYN1 One parent 12,700 15,200 17,800 20,300 22,900 25,400 27,900 30,500 33,000 35,600 38,100 39,100 5,200 6,300 7,300 8,400 9,400 10,500 11,500 12,600 13,600 14,700 15,700 16,100 30901 Federal Register / Vol. 71, No. 104 / Wednesday, May 31, 2006 / Notices DEPENDENT STUDENTS—Continued And there are Two parents 42 43 44 45 46 47 48 49 50 51 52 53 54 55 56 57 58 59 60 61 62 63 64 65 ...................... ...................... ...................... ...................... ...................... ...................... ...................... ...................... ...................... ...................... ...................... ...................... ...................... ...................... ...................... ...................... ...................... ...................... ...................... ...................... ...................... ...................... ...................... or older ........ One parent 40,100 41,100 42,100 43,100 44,200 45,300 46,400 47,600 48,700 50,200 51,500 53,000 54,300 55,900 57,300 59,000 60,700 62,500 64,300 66,200 68,100 70,400 72,400 74,800 16,400 16,800 17,200 17,500 17,900 18,300 18,800 19,200 19,700 20,100 20,500 21,000 21,600 22,100 22,700 23,200 23,900 24,400 25,100 25,700 26,400 27,200 27,900 28,700 INDEPENDENT STUDENTS WITHOUT DEPENDENTS OTHER THAN A SPOUSE And they are Married then the education savings and asset protection allowance is— or less .......... ...................... ...................... ...................... ...................... ...................... ...................... ...................... ...................... ...................... ...................... ...................... ...................... ...................... ...................... 0 2,500 5,100 7,600 10,200 12,700 15,200 17,800 20,300 22,900 25,400 27,900 30,500 33,000 35,600 And they are Married 40 41 42 43 44 45 46 47 48 49 50 51 52 53 54 55 56 57 58 59 60 61 62 63 64 65 ...................... ...................... ...................... ...................... ...................... ...................... ...................... ...................... ...................... ...................... ...................... ...................... ...................... ...................... ...................... ...................... ...................... ...................... ...................... ...................... ...................... ...................... ...................... ...................... ...................... or older ........ 38,100 39,100 40,100 41,100 42,100 43,100 44,200 45,300 46,400 47,600 48,700 50,200 51,500 53,000 54,300 55,900 57,300 59,000 60,700 62,500 64,300 66,200 68,100 70,400 72,400 74,800 Single 15,700 16,100 16,400 16,800 17,200 17,500 17,900 18,300 18,800 19,200 19,700 20,100 20,500 21,000 21,600 22,100 22,700 23,200 23,900 24,400 25,100 25,700 26,400 27,200 27,900 28,700 INDEPENDENT STUDENTS WITH DEPENDENTS OTHER THAN A SPOUSE Single If the age of the student is— 25 26 27 28 29 30 31 32 33 34 35 36 37 38 39 INDEPENDENT STUDENTS WITHOUT DEPENDENTS OTHER THAN A SPOUSE—Continued 0 1,000 2,100 3,100 4,200 5,200 6,300 7,300 8,400 9,400 10,500 11,500 12,600 13,600 14,700 If the age of the student is— And they are married single then the education savings and asset protection allowance is— 25 26 27 28 29 30 31 32 33 34 35 36 37 or less .......... ...................... ...................... ...................... ...................... ...................... ...................... ...................... ...................... ...................... ...................... ...................... ...................... 0 2,500 5,100 7,600 10,200 12,700 15,200 17,800 20,300 22,900 25,400 27,900 30,500 0 1,000 2,100 3,100 4,200 5,200 6,300 7,300 8,400 9,400 10,500 11,500 12,600 INDEPENDENT STUDENTS WITH DEPENDENTS OTHER THAN A SPOUSE—Continued If the age of the student is— 38 39 40 41 42 43 44 45 46 47 48 49 50 51 52 53 54 55 56 57 58 59 60 61 62 63 64 65 And they are married ...................... ...................... ...................... ...................... ...................... ...................... ...................... ...................... ...................... ...................... ...................... ...................... ...................... ...................... ...................... ...................... ...................... ...................... ...................... ...................... ...................... ...................... ...................... ...................... ...................... ...................... ...................... or older ........ single 33,000 35,600 38,100 39,100 40,100 41,100 42,100 43,100 44,200 45,300 46,400 47,600 48,700 50,200 51,500 53,000 54,300 55,900 57,300 59,000 60,700 62,500 64,300 66,200 68,100 70,400 72,400 74,800 13,600 14,700 15,700 16,100 16,400 16,800 17,200 17,500 17,900 18,300 18,800 19,200 19,700 20,100 20,500 21,000 21,600 22,100 22,700 23,200 23,900 24,400 25,100 25,700 26,400 27,200 27,900 28,700 4. Assessment Schedules and Rates. Two schedules that are subject to updates, one for parents of dependent students and one for independent students with dependents other than a spouse, are used to determine the EFC toward educational expenses from family financial resources. For dependent students, the EFC is derived from an assessment of the parents’ adjusted available income (AAI). For independent students with dependents other than a spouse, the EFC is derived from an assessment of the family’s AAI. The AAI represents a measure of a family’s financial strength, which considers both income and assets. The parents’ contribution for a dependent student is computed according to the following schedule: Then the contribution is— Less than ¥$3,409 ........................................................................................................................................... ¥$3,409 to $13,400 ......................................................................................................................................... $13,401 to $16,800 ........................................................................................................................................... $16,801 to $20,200 ........................................................................................................................................... $20,201 to $23,700 ........................................................................................................................................... $23,701 to $27,100 ........................................................................................................................................... $27,101 or more ................................................................................................................................................ jlentini on PROD1PC65 with NOTICES If AAI is— ¥$750 22% of AAI $2,948 + 25% $3,798 + 29% $4,784 + 34% $5,974 + 40% $7,334 + 47% The contribution for an independent student with dependents other than a VerDate Aug<31>2005 17:52 May 30, 2006 Jkt 208001 spouse is computed according to the following schedule: PO 00000 Frm 00045 Fmt 4703 Sfmt 4703 E:\FR\FM\31MYN1.SGM 31MYN1 of of of of of AAI AAI AAI AAI AAI over over over over over $13,400 $16,800 $20,200 $23,700 $27,100 30902 Federal Register / Vol. 71, No. 104 / Wednesday, May 31, 2006 / Notices If AAI is— Then the contribution is— Less than ¥$3,409 ........................................................................................................................................... ¥$3,409 to $13,400 ......................................................................................................................................... $13,401 to $16,800 ........................................................................................................................................... $16,801 to $20,200 ........................................................................................................................................... $20,201 to $23,700 ........................................................................................................................................... $23,701 to $27,100 ........................................................................................................................................... $27,101 or more ................................................................................................................................................ ¥$750 22% of AAI $2,948 + 25% $3,798 + 29% $4,784 + 34% $5,974 + 40% $7,334 + 47% 5. Employment Expense Allowance. This allowance for employment-related expenses, which is used for the parents of dependent students and for married independent students, recognizes additional expenses incurred by working spouses and single-parent households. The allowance is based upon the marginal differences in costs for a two-worker family compared to a one-worker family for food away from home, apparel, transportation, and household furnishings and operations. The employment expense allowance for parents of dependent students, married independent students without dependents other than a spouse, and independent students with dependents other than a spouse is the lesser of $3,200 or 35 percent of earned income. 6. Allowance for State and Other Taxes. The allowance for State and other taxes protects a portion of the parents’ and students’ income from being considered available for postsecondary educational expenses. of of of of of State jlentini on PROD1PC65 with NOTICES Under $15,000 (Percent) VerDate Aug<31>2005 17:52 May 30, 2006 Jkt 208001 PO 00000 Frm 00046 Fmt 4703 Sfmt 4703 over over over over over $13,400 $16,800 $20,200 $23,700 $27,100 There are four categories for State and other taxes, one each for parents of dependent students, independent students with dependents other than a spouse, dependent students, and independent students without dependents other than a spouse. Section 478(g) of the HEA directs the Secretary to update the tables for State and other taxes after reviewing the Statistics of Income file data maintained by the Internal Revenue Service. Parents of dependents and independents with dependents other than a spouse Alabama ..................................................................................................................... Alaska ........................................................................................................................ Arizona ....................................................................................................................... Arkansas .................................................................................................................... California .................................................................................................................... Colorado .................................................................................................................... Connecticut ................................................................................................................ Delaware .................................................................................................................... District of Columbia ................................................................................................... Florida ........................................................................................................................ Georgia ...................................................................................................................... Hawaii ........................................................................................................................ Idaho .......................................................................................................................... Illinois ......................................................................................................................... Indiana ....................................................................................................................... Iowa ........................................................................................................................... Kansas ....................................................................................................................... Kentucky .................................................................................................................... Louisiana .................................................................................................................... Maine ......................................................................................................................... Maryland .................................................................................................................... Massachusetts ........................................................................................................... Michigan ..................................................................................................................... Minnesota .................................................................................................................. Mississippi .................................................................................................................. Missouri ...................................................................................................................... Montana ..................................................................................................................... Nebraska .................................................................................................................... Nevada ....................................................................................................................... New Hampshire ......................................................................................................... New Jersey ................................................................................................................ New Mexico ............................................................................................................... New York ................................................................................................................... North Carolina ............................................................................................................ North Dakota .............................................................................................................. Ohio ........................................................................................................................... Oklahoma ................................................................................................................... Oregon ....................................................................................................................... Pennsylvania .............................................................................................................. Rhode Island .............................................................................................................. South Carolina ........................................................................................................... AAI AAI AAI AAI AAI $15,000 & up (Percent) 3 2 4 4 7 4 7 4 7 2 5 4 5 5 4 5 5 5 2 6 7 6 5 6 3 5 5 5 2 4 8 4 8 6 2 6 4 8 5 7 5 E:\FR\FM\31MYN1.SGM All (Percent) 2 1 3 3 6 3 6 3 6 1 4 3 4 4 3 4 4 4 1 5 6 5 4 5 2 4 4 4 1 3 7 3 7 5 1 5 3 7 4 6 4 31MYN1 Dependents and independents without dependents other than a spouse 2 0 2 3 4 3 4 3 6 0 3 3 3 2 2 3 3 4 2 3 5 4 3 4 2 3 3 3 1 1 4 3 5 4 1 4 3 5 3 4 3 30903 Federal Register / Vol. 71, No. 104 / Wednesday, May 31, 2006 / Notices Parents of dependents and independents with dependents other than a spouse State Under $15,000 (Percent) South Dakota ............................................................................................................. Tennessee ................................................................................................................. Texas ......................................................................................................................... Utah ........................................................................................................................... Vermont ..................................................................................................................... Virginia ....................................................................................................................... Washington ................................................................................................................ West Virginia .............................................................................................................. Wisconsin ................................................................................................................... Wyoming .................................................................................................................... Other .......................................................................................................................... You may 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) on the Internet at the following site: http://www.ed.gov/ news/fedregister. To use PDF you must have Adobe Acrobat Reader, which is available free at this site. If you have questions about using PDF, call the U.S. Government Printing Office (GPO), toll free, at 1– 888–293–6498; or in the Washington, DC, area at (202) 512–1530. Note: 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 on GPO Access at: http://www.gpoaccess.gov/nara/ index.html. (Catalog of Federal Domestic Assistance Numbers: 84.007 Federal Supplemental Educational Opportunity Grant; 84.032 Federal Family Education Loan Program; 84.033 Federal Work-Study Program; 84.038 Federal Perkins Loan Program; 84.063 Federal Pell Grant Program; 84.268 William D. Ford Federal Direct Loan Program; 84.375 Academic Competitiveness Grant; 84.376 National Science and Mathematics Access to Retain Talent Grant) Dated: May 25, 2006. Theresa S. Shaw, Chief Operating Officer, Federal Student Aid. [FR Doc. E6–8403 Filed 5–30–06; 8:45 am] BILLING CODE 4000–01–P DEPARTMENT OF ENERGY jlentini on PROD1PC65 with NOTICES Environmental Management SiteSpecific Advisory Board, Paducah Department of Energy (DOE). Notice of open meeting. AGENCY: ACTION: SUMMARY: This notice announces a meeting of the Environmental VerDate Aug<31>2005 17:52 May 30, 2006 Jkt 208001 1 1 2 5 6 5 2 3 7 1 3 Management Site-Specific Advisory Board (EM SSAB), Paducah. The Federal Advisory Committee Act (Pub. L. 92–463, 86 Stat. 770) requires that public notice of this meeting be announced in the Federal Register. DATES: Thursday, June 15, 2006, 5:30 p.m.–9 p.m. ADDRESSES: 111 Memorial Drive, Barkley Centre, Paducah, Kentucky 42001. FOR FURTHER INFORMATION CONTACT: William E. Murphie, Deputy Designated Federal Officer, Department of Energy Portsmouth/Paducah Project Office, 1017 Majestic Drive, Suite 200, Lexington, Kentucky 40513, (859) 219– 4001. SUPPLEMENTARY INFORMATION: Purpose of the Board: The purpose of the Board is to make recommendations to DOE in the areas of environmental restoration, waste management and related activities. Tentative Agenda 5:30 p.m. Informal Discussion. 6 p.m. Call to Order, Introductions, Review of Agenda, Approval of May Minutes. 6:15 p.m. Deputy Designated Federal Officer’s Comments. 6:35 p.m. Federal Coordinator’s Comments. 6:40 p.m. Ex-officios’ Comments. 6:50 p.m. Public Comments and Questions. 7 p.m. Task Forces/Presentations. • Southwest Plume Site Investigation. • Status of Land Acquisition Study. • Water Disposition/Water Quality Task Force. 8 p.m. Public Comments and Questions. 8:10 p.m. Break. 8:20 p.m. Administrative Issues. • Preparation for July Presentation. • Budget Review. PO 00000 Frm 00047 Fmt 4703 Sfmt 4703 $15,000 & up (Percent) Dependents and independents without dependents other than a spouse All (Percent) 0 0 1 4 5 4 1 2 6 0 2 0 0 0 3 3 3 0 2 4 0 3 • Review of Work Plan. • Review of Next Agenda. 8:30 p.m. Review of Action Items. 8:35 p.m. Subcommittee Report. • Executive Committee—Chairs Meeting Review. 8:50 p.m. Final Comments. 9 p.m. Adjourn. Public Participation: The meeting is open to the public. Written statements may be filed with the Board either before or after the meeting. Individuals who wish to make oral statements pertaining to agenda items should contact David Dollins at the address listed below or by telephone at (270) 441–6819. Requests must be received five days prior to the meeting and reasonable provision will be made to include the presentation in the agenda. The Deputy Designated Federal Officer is empowered to conduct the meeting in a fashion that will facilitate the orderly conduct of business. Individuals wishing to make public comment will be provided a maximum of five minutes to present their comments. Minutes: The minutes of this meeting will be available for public review and copying at the U.S. Department of Energy’s Freedom of Information Public Reading Room, 1E–190, Forrestal Building, 1000 Independence Avenue, SW., Washington, DC 20585 between 9 a.m. and 4 p.m., Monday–Friday, except Federal holidays. Minutes will also be available at the Department of Energy’s Environmental Information Center and Reading Room at 115 Memorial Drive, Barkley Centre, Paducah, Kentucky between 8 a.m. and 5 p.m. on Monday through Friday or by writing to David Dollins, Department of Energy, Paducah Site Office, Post Office Box 1410, MS– 103, Paducah, Kentucky 42001 or by calling him at (270) 441–6819. E:\FR\FM\31MYN1.SGM 31MYN1

Agencies

[Federal Register Volume 71, Number 104 (Wednesday, May 31, 2006)]
[Notices]
[Pages 30899-30903]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: E6-8403]


-----------------------------------------------------------------------

DEPARTMENT OF EDUCATION


Federal Pell Grant, Academic Competitiveness Grant, National 
Science and Mathematics Access To Retain Talent Grant, Federal Perkins 
Loan, Federal Work-Study, Federal Supplemental Educational Opportunity 
Grant, Federal Family Education Loan, and William D. Ford Federal 
Direct Loan Programs

AGENCY: Federal Student Aid, Department of Education.

ACTION: Notice of revision of the Federal Need Analysis Methodology for 
the 2007-2008 award year.

-----------------------------------------------------------------------

SUMMARY: The Secretary of Education announces the annual updates to the 
tables that will be used in the statutory ``Federal Need Analysis 
Methodology'' to determine a student's expected family contribution 
(EFC) for award year 2007-2008 for the student financial aid programs 
authorized under Title IV of the Higher Education Act of 1965, as 
amended (HEA). An EFC is the amount a student and his or her family may 
reasonably be expected to contribute toward the student's postsecondary 
educational costs for purposes of determining financial aid 
eligibility. The Title IV programs include the Federal Pell Grant, 
Academic Competitiveness Grant, National Science and Mathematics Access 
to Retain Talent Grant, campus-based (Federal Perkins Loan, Federal 
Work-Study, and Federal Supplemental Educational Opportunity Grant 
Programs), Federal Family Education Loan, and William D. Ford Federal 
Direct Loan Programs (Title IV HEA Programs).

FOR FURTHER INFORMATION CONTACT: Ms. Marya Dennis, Management and 
Program Analyst, U.S. Department of Education, Union Center Plaza, 830 
First Street, NE., Washington, DC 20202. Telephone: (202) 377-3385. If 
you use a telecommunications device for the deaf (TDD), you may call 
the Federal Relay Service (FRS) at 1-800-877-8339.
    Individuals with disabilities may obtain this document in an 
alternative format (e.g., Braille, large print, audiotape or computer 
diskette) on request to the contact person listed in the preceding 
paragraph.

SUPPLEMENTARY INFORMATION: Part F of Title IV of the HEA specifies the 
criteria, data elements, calculations, and tables used in the Federal 
Need Analysis Methodology EFC calculations.
    Section 478 of Part F of the HEA requires the Secretary to adjust 
four of the tables--the Income Protection Allowance, the Adjusted Net 
Worth of a Business or Farm, the Education Savings and Asset Protection 
Allowance, and the Assessment Schedules and Rates--each award year to 
adjust for general price inflation. The changes are based, in general, 
upon increases in the Consumer Price Index.
    For award year 2007-2008 the Secretary is charged with updating the 
income protection allowance, adjusted net worth of a business or farm, 
and the assessment schedules and rates to account for inflation that 
took place between December 2005 and December 2006. However, because 
the Secretary must publish these tables before December 2006, the 
increases in the tables must be based upon a percentage equal to the 
estimated percentage increase in the Consumer Price Index for All Urban 
Consumers for 2005. The Secretary estimates that the increase in the 
Consumer Price Index for All Urban Consumers (CPI-U) for the period 
December 2005 through December 2006 will be 2.8 percent. Additionally, 
the Higher Education Reconciliation Act of 2005 (Pub. L. 109-171) 
modified the updating procedure for the income protection allowance 
table for independent students with dependents other than a spouse. 
These table values are increased by the greater of 5 percent or the 
Secretary's estimated increase in the CPI-U (2.8 percent). The updated 
tables are in sections 1, 2, and 4 of this notice.
    The Secretary must also revise, for each award year, the education 
savings and asset protection allowances as provided for in section 
478(d) of the HEA. The Education Savings and Asset Protection Allowance 
table for award year 2007-2008 has been updated in section 3 of this 
notice. Section 478(h) of the HEA also requires the Secretary to 
increase the amount specified for the Employment Expense Allowance, 
adjusted for inflation. This calculation is based upon increases in the 
Bureau of Labor Statistics budget of the marginal costs for a two-
worker compared to a one-worker family for food away from home, 
apparel, transportation, and household furnishings and operations. The 
Employment Expense Allowance table for award year 2007-2008 has been 
updated in section 5 of this notice.
    The HEA provides for the following annual updates:
    1. Income Protection Allowance. This allowance is the amount of 
living expenses associated with the maintenance of an individual or 
family that may be offset against the family's income. It varies by 
family size. The income protection allowance for the dependent student 
is $3,000. The income protection allowances for parents of dependent 
students for award year 2007-2008 is:

                                          Parents of Dependent Students
----------------------------------------------------------------------------------------------------------------
                                                                        Number in college
                  Family size                   ----------------------------------------------------------------
                                                      1            2            3            4            5
----------------------------------------------------------------------------------------------------------------
2..............................................      $15,000      $12,430  ...........  ...........  ...........
3..............................................       18,680       16,130      $13,560  ...........  ...........

[[Page 30900]]

 
4..............................................       23,070       20,510       17,950      $15,390  ...........
5..............................................       27,220       24,660       22,100       19,540      $16,980
6..............................................       31,840       29,280       26,720       24,160       21,600
----------------------------------------------------------------------------------------------------------------

    For each additional family member add $3,590.
    For each additional college student subtract $2,550.
    The income protection allowances for independent students with 
dependents other than a spouse for award year 2007-2008 is:

                            Independent Students With Dependents Other Than a Spouse
----------------------------------------------------------------------------------------------------------------
                                                                        Number in college
                  Family size                   ----------------------------------------------------------------
                                                      1            2            3            4            5
----------------------------------------------------------------------------------------------------------------
2..............................................      $15,320      $12,700  ...........  ...........  ...........
3..............................................       19,070       16,470      $13,850  ...........  ...........
4..............................................       23,560       20,940       18,330      $15,710  ...........
5..............................................       27,800       25,170       22,570       19,950      $17,340
6..............................................       32,510       29,890       27,290       24,660       22,060
----------------------------------------------------------------------------------------------------------------

    For each additional family member add $3,670.
    For each additional college student subtract $2,610.
    The income protection allowances for single independent students 
and independent students without dependents other than a spouse for 
award year 2007-2008 are:

------------------------------------------------------------------------
                                                 Number in
                Marital status                    college        IPA
------------------------------------------------------------------------
Single........................................            1       $6,050
Married.......................................            2        6,050
Married.......................................            1        9,700
------------------------------------------------------------------------

    2. Adjusted Net Worth (NW) of a Business or Farm. A portion of the 
full net value of a farm or business is excluded from the calculation 
of an expected contribution because--(1) The income produced from these 
assets is already assessed in another part of the formula; and (2) the 
formula protects a portion of the value of the assets. The portion of 
these assets included in the contribution calculation is computed 
according to the following schedule. This schedule is used for parents 
of dependent students, independent students without dependents other 
than a spouse, and independent students with dependents other than a 
spouse.

----------------------------------------------------------------------------------------------------------------
   If the net worth of a business or farm is--                   Then the adjusted net worth is--
----------------------------------------------------------------------------------------------------------------
Less than $1....................................  $0
$1 to $105,000..................................  $0 + 40% of NW.
$105,001 to $320,000............................  $42,000 + 50% of NW over $105,000.
$320,001 to $535,000............................  $149,500 + 60% of NW over $320,000.
$535,001 or more................................  $278,500 + 100% of NW over $535,000.
----------------------------------------------------------------------------------------------------------------

    3. Education Savings and Asset Protection Allowance. 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 without dependents other than a 
spouse, and one for independent students with dependents other than a 
spouse.

                           Dependent Students
------------------------------------------------------------------------
                                                      And there are
                                               -------------------------
                                                Two parents   One parent
------------------------------------------------------------------------
If the age of the older parent is--
                                                   then the education
                                                    savings and asset
                                                protection allowance is--
 
                                               -------------------------
25 or less....................................            0            0
26............................................        2,500        1,000
27............................................        5,100        2,100
28............................................        7,600        3,100
29............................................       10,200        4,200
30............................................       12,700        5,200
31............................................       15,200        6,300
32............................................       17,800        7,300
33............................................       20,300        8,400
34............................................       22,900        9,400
35............................................       25,400       10,500
36............................................       27,900       11,500
37............................................       30,500       12,600
38............................................       33,000       13,600
39............................................       35,600       14,700
40............................................       38,100       15,700
41............................................       39,100       16,100

[[Page 30901]]

 
42............................................       40,100       16,400
43............................................       41,100       16,800
44............................................       42,100       17,200
45............................................       43,100       17,500
46............................................       44,200       17,900
47............................................       45,300       18,300
48............................................       46,400       18,800
49............................................       47,600       19,200
50............................................       48,700       19,700
51............................................       50,200       20,100
52............................................       51,500       20,500
53............................................       53,000       21,000
54............................................       54,300       21,600
55............................................       55,900       22,100
56............................................       57,300       22,700
57............................................       59,000       23,200
58............................................       60,700       23,900
59............................................       62,500       24,400
60............................................       64,300       25,100
61............................................       66,200       25,700
62............................................       68,100       26,400
63............................................       70,400       27,200
64............................................       72,400       27,900
65 or older...................................       74,800       28,700
------------------------------------------------------------------------


       Independent Students Without Dependents Other Than a Spouse
------------------------------------------------------------------------
                                                      And they are
                                               -------------------------
                                                  Married       Single
------------------------------------------------------------------------
If the age of the student is--
                                                   then the education
                                                    savings and asset
                                                protection allowance is--
 
                                               -------------------------
25 or less....................................            0            0
26............................................        2,500        1,000
27............................................        5,100        2,100
28............................................        7,600        3,100
29............................................       10,200        4,200
30............................................       12,700        5,200
31............................................       15,200        6,300
32............................................       17,800        7,300
33............................................       20,300        8,400
34............................................       22,900        9,400
35............................................       25,400       10,500
36............................................       27,900       11,500
37............................................       30,500       12,600
38............................................       33,000       13,600
39............................................       35,600       14,700
40............................................       38,100       15,700
41............................................       39,100       16,100
42............................................       40,100       16,400
43............................................       41,100       16,800
44............................................       42,100       17,200
45............................................       43,100       17,500
46............................................       44,200       17,900
47............................................       45,300       18,300
48............................................       46,400       18,800
49............................................       47,600       19,200
50............................................       48,700       19,700
51............................................       50,200       20,100
52............................................       51,500       20,500
53............................................       53,000       21,000
54............................................       54,300       21,600
55............................................       55,900       22,100
56............................................       57,300       22,700
57............................................       59,000       23,200
58............................................       60,700       23,900
59............................................       62,500       24,400
60............................................       64,300       25,100
61............................................       66,200       25,700
62............................................       68,100       26,400
63............................................       70,400       27,200
64............................................       72,400       27,900
65 or older...................................       74,800       28,700
------------------------------------------------------------------------


        Independent Students With Dependents Other Than A Spouse
------------------------------------------------------------------------
                                                      And they are
        If the age of the student is--         -------------------------
                                                  married       single
------------------------------------------------------------------------
                                                   then the education
                                                    savings and asset
                                                protection allowance is--
 
                                               -------------------------
25 or less....................................            0            0
26............................................        2,500        1,000
27............................................        5,100        2,100
28............................................        7,600        3,100
29............................................       10,200        4,200
30............................................       12,700        5,200
31............................................       15,200        6,300
32............................................       17,800        7,300
33............................................       20,300        8,400
34............................................       22,900        9,400
35............................................       25,400       10,500
36............................................       27,900       11,500
37............................................       30,500       12,600
38............................................       33,000       13,600
39............................................       35,600       14,700
40............................................       38,100       15,700
41............................................       39,100       16,100
42............................................       40,100       16,400
43............................................       41,100       16,800
44............................................       42,100       17,200
45............................................       43,100       17,500
46............................................       44,200       17,900
47............................................       45,300       18,300
48............................................       46,400       18,800
49............................................       47,600       19,200
50............................................       48,700       19,700
51............................................       50,200       20,100
52............................................       51,500       20,500
53............................................       53,000       21,000
54............................................       54,300       21,600
55............................................       55,900       22,100
56............................................       57,300       22,700
57............................................       59,000       23,200
58............................................       60,700       23,900
59............................................       62,500       24,400
60............................................       64,300       25,100
61............................................       66,200       25,700
62............................................       68,100       26,400
63............................................       70,400       27,200
64............................................       72,400       27,900
65 or older...................................       74,800       28,700
------------------------------------------------------------------------

    4. Assessment Schedules and Rates. Two schedules that are subject 
to updates, one for parents of dependent students and one for 
independent students with dependents other than a spouse, are used to 
determine the EFC toward educational expenses from family financial 
resources. For dependent students, the EFC is derived from an 
assessment of the parents' adjusted available income (AAI). For 
independent students with dependents other than a spouse, the EFC is 
derived from an assessment of the family's AAI. The AAI represents a 
measure of a family's financial strength, which considers both income 
and assets.
    The parents' contribution for a dependent student is computed 
according to the following schedule:

----------------------------------------------------------------------------------------------------------------
                   If AAI is--                                      Then the contribution is--
----------------------------------------------------------------------------------------------------------------
Less than -$3,409...............................  -$750
-$3,409 to $13,400..............................  22% of AAI
$13,401 to $16,800..............................  $2,948 + 25% of AAI over $13,400
$16,801 to $20,200..............................  $3,798 + 29% of AAI over $16,800
$20,201 to $23,700..............................  $4,784 + 34% of AAI over $20,200
$23,701 to $27,100..............................  $5,974 + 40% of AAI over $23,700
$27,101 or more.................................  $7,334 + 47% of AAI over $27,100
----------------------------------------------------------------------------------------------------------------

    The contribution for an independent student with dependents other 
than a spouse is computed according to the following schedule:

[[Page 30902]]



----------------------------------------------------------------------------------------------------------------
                   If AAI is--                                      Then the contribution is--
----------------------------------------------------------------------------------------------------------------
Less than -$3,409...............................  -$750
-$3,409 to $13,400..............................  22% of AAI
$13,401 to $16,800..............................  $2,948 + 25% of AAI over $13,400
$16,801 to $20,200..............................  $3,798 + 29% of AAI over $16,800
$20,201 to $23,700..............................  $4,784 + 34% of AAI over $20,200
$23,701 to $27,100..............................  $5,974 + 40% of AAI over $23,700
$27,101 or more.................................  $7,334 + 47% of AAI over $27,100
----------------------------------------------------------------------------------------------------------------

    5. Employment Expense Allowance. This allowance for employment-
related expenses, which is used for the parents of dependent students 
and for married independent students, recognizes additional expenses 
incurred by working spouses and single-parent households. The allowance 
is based upon the marginal differences in costs for a two-worker family 
compared to a one-worker family for food away from home, apparel, 
transportation, and household furnishings and operations.
    The employment expense allowance for parents of dependent students, 
married independent students without dependents other than a spouse, 
and independent students with dependents other than a spouse is the 
lesser of $3,200 or 35 percent of earned income.
    6. Allowance for State and Other Taxes. The allowance for State and 
other taxes protects a portion of the parents' and students' income 
from being considered available for postsecondary educational expenses. 
There are four categories for State and other taxes, one each for 
parents of dependent students, independent students with dependents 
other than a spouse, dependent students, and independent students 
without dependents other than a spouse. Section 478(g) of the HEA 
directs the Secretary to update the tables for State and other taxes 
after reviewing the Statistics of Income file data maintained by the 
Internal Revenue Service.

----------------------------------------------------------------------------------------------------------------
                                                               Parents of dependents and         Dependents and
                                                          independents with dependents other      independents
                                                                     than a spouse                  without
                         State                          --------------------------------------  dependents other
                                                                                                 than a spouse
                                                           Under $15,000       $15,000 & up   ------------------
                                                             (Percent)          (Percent)        All  (Percent)
----------------------------------------------------------------------------------------------------------------
Alabama................................................                  3                  2                  2
Alaska.................................................                  2                  1                  0
Arizona................................................                  4                  3                  2
Arkansas...............................................                  4                  3                  3
California.............................................                  7                  6                  4
Colorado...............................................                  4                  3                  3
Connecticut............................................                  7                  6                  4
Delaware...............................................                  4                  3                  3
District of Columbia...................................                  7                  6                  6
Florida................................................                  2                  1                  0
Georgia................................................                  5                  4                  3
Hawaii.................................................                  4                  3                  3
Idaho..................................................                  5                  4                  3
Illinois...............................................                  5                  4                  2
Indiana................................................                  4                  3                  2
Iowa...................................................                  5                  4                  3
Kansas.................................................                  5                  4                  3
Kentucky...............................................                  5                  4                  4
Louisiana..............................................                  2                  1                  2
Maine..................................................                  6                  5                  3
Maryland...............................................                  7                  6                  5
Massachusetts..........................................                  6                  5                  4
Michigan...............................................                  5                  4                  3
Minnesota..............................................                  6                  5                  4
Mississippi............................................                  3                  2                  2
Missouri...............................................                  5                  4                  3
Montana................................................                  5                  4                  3
Nebraska...............................................                  5                  4                  3
Nevada.................................................                  2                  1                  1
New Hampshire..........................................                  4                  3                  1
New Jersey.............................................                  8                  7                  4
New Mexico.............................................                  4                  3                  3
New York...............................................                  8                  7                  5
North Carolina.........................................                  6                  5                  4
North Dakota...........................................                  2                  1                  1
Ohio...................................................                  6                  5                  4
Oklahoma...............................................                  4                  3                  3
Oregon.................................................                  8                  7                  5
Pennsylvania...........................................                  5                  4                  3
Rhode Island...........................................                  7                  6                  4
South Carolina.........................................                  5                  4                  3

[[Page 30903]]

 
South Dakota...........................................                  1                  0                  0
Tennessee..............................................                  1                  0                  0
Texas..................................................                  2                  1                  0
Utah...................................................                  5                  4                  3
Vermont................................................                  6                  5                  3
Virginia...............................................                  5                  4                  3
Washington.............................................                  2                  1                  0
West Virginia..........................................                  3                  2                  2
Wisconsin..............................................                  7                  6                  4
Wyoming................................................                  1                  0                  0
Other..................................................                  3                  2                  3
----------------------------------------------------------------------------------------------------------------

    You may 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) on the Internet at the following site: http://
www.ed.gov/news/fedregister.
    To use PDF you must have Adobe Acrobat Reader, which is available 
free at this site. If you have questions about using PDF, call the U.S. 
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the Washington, DC, area at (202) 512-1530.


    Note: 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 on GPO Access at: http://www.gpoaccess.gov/
nara/index.html.

(Catalog of Federal Domestic Assistance Numbers: 84.007 Federal 
Supplemental Educational Opportunity Grant; 84.032 Federal Family 
Education Loan Program; 84.033 Federal Work-Study Program; 84.038 
Federal Perkins Loan Program; 84.063 Federal Pell Grant Program; 
84.268 William D. Ford Federal Direct Loan Program; 84.375 Academic 
Competitiveness Grant; 84.376 National Science and Mathematics 
Access to Retain Talent Grant)

    Dated: May 25, 2006.
Theresa S. Shaw,
Chief Operating Officer, Federal Student Aid.
[FR Doc. E6-8403 Filed 5-30-06; 8:45 am]
BILLING CODE 4000-01-P