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, 30568-30572 [E7-10621]

Download as PDF 30568 Federal Register / Vol. 72, No. 105 / Friday, June 1, 2007 / Notices Records are kept of all Board proceedings and are available for public inspection at the Office of the White House Initiative on Tribal Colleges and Universities, U.S. Department of Education, 1990 K Street, NW., Washington, DC 20006, during the hours of 8 a.m. to 5 p.m., Eastern Standard Time Monday through Friday. Electronic Access to This Document: 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: https://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: https://www.gpoaccess.gov/nara/ index.html. James Manning, Delegated the Authority of Assistant Secretary, Office of Postsecondary Education. [FR Doc. E7–10635 Filed 5–31–07; 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, U.S. Department of Education. ACTION: Notice of revision of the Federal Need Analysis Methodology for the 2008–2009 award year. AGENCY: hsrobinson on PROD1PC76 with NOTICES SUMMARY: The Secretary 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 VerDate Aug<31>2005 18:10 May 31, 2007 Jkt 211001 (EFC) for award year 2008–2009 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, Federal Perkins Loan, Federal Work-Study, Federal Supplemental Educational Opportunity Grant, 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 Title IV requires the Secretary to adjust four of the tables—the Income Protection Allowance, the Adjusted Net Worth of a Farm or Business, 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 2008–2009 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 2006 and December 2007. However, because the Secretary must publish these tables before December 2007, the increases in the PO 00000 Frm 00033 Fmt 4703 Sfmt 4703 tables must be based upon a percentage equal to the estimated percentage increase in the Consumer Price Index for All Urban Consumers for 2006. The Secretary estimates that the increase in the Consumer Price Index for All Urban Consumers (CPI–U) for the period December 2006 through December 2007 will be 2.8 percent. Additionally, the Higher Education Reconciliation Act of 2005 (HERA, Pub. L. 109–171) modified the updating procedure for the income protection allowance for dependent students and the income protection allowance tables for both independent students with dependents other than a spouse and independent students without dependents other than a spouse. HERA established new 2007–08 award year values for these income protection allowances, which are being updated for the 2008–09 award year using the Secretary’s estimated inflation rate of 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 2008–2009 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 family 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 2008–2009 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 $3,080. The income protection allowances for parents of dependent students for award year 2008–2009 are: E:\FR\FM\01JNN1.SGM 01JNN1 30569 Federal Register / Vol. 72, No. 105 / Friday, June 1, 2007 / Notices PARENTS OF DEPENDENT STUDENTS Number in college Family size 1 2 3 4 5 6 ......................................................................................................................... ......................................................................................................................... ......................................................................................................................... ......................................................................................................................... ......................................................................................................................... 2 $15,380 19,150 23,660 27,910 32,650 $12,750 16,540 21,020 25,280 30,010 The income protection allowances for independent students with dependents For each additional family member add $3,680. For each additional college student subtract $2,620. 3 4 $13,900 18,410 22,660 27,400 $15,770 20,030 24,770 5 $17,410 22,150 other than a spouse for award year 2008–2009 are: 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 $3,770. For each additional college student subtract $2,680. The income protection allowances for single independent students and independent students without dependents other than a spouse for award year 2008–2009 are: 2 $15,750 19,610 24,220 28,580 33,420 Number in college hsrobinson on PROD1PC76 with NOTICES 18:10 May 31, 2007 Jkt 211001 5 .................. $14,240 18,850 23,200 28,060 .................. .................. $16,150 20,510 25,350 .................. .................. .................. $17,830 22,680 IPA Then the adjusted net worth is— Less than $1 ............................................................................................. $1 to $110,000 ......................................................................................... $110,001 to $330,000 .............................................................................. $330,001 to $550,000 .............................................................................. $550,001 or more ..................................................................................... VerDate Aug<31>2005 4 income produced from these assets is already assessed in another part of the formula; and (2) the formula protects a Single .................... 1 $6,220 portion of the value of the assets. The Married .................. 2 6,220 portion of these assets included in the Married .................. 1 9,970 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. Marital status If the net worth of a business or farm is— 3. Education Savings and Asset Protection Allowance. This allowance $13,060 16,930 21,530 25,880 30,730 3 $0. $0 + 40% of NW. $44,000 + 50% of NW over $110,000. $154,000 + 60% of NW over $330,000. $286,000 + 100% of NW over $550,000. protects a portion of net worth (assets less debts) from being considered PO 00000 Frm 00034 Fmt 4703 Sfmt 4703 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. E:\FR\FM\01JNN1.SGM 01JNN1 30570 Federal Register / Vol. 72, No. 105 / Friday, June 1, 2007 / Notices DEPENDENT STUDENTS INDEPENDENT STUDENTS WITHOUT DEPENDENTS OTHER THAN A SPOUSE—Continued And they are Two parents If the age of the student is 25 26 27 28 29 30 31 32 33 34 35 36 37 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 One parent Then the education savings and asset protection allowance is— or less .......... ...................... ...................... ...................... ...................... ...................... ...................... ...................... ...................... ...................... ...................... ...................... ...................... ...................... ...................... ...................... ...................... ...................... ...................... ...................... ...................... ...................... ...................... ...................... ...................... ...................... ...................... ...................... ...................... ...................... ...................... ...................... ...................... ...................... ...................... ...................... ...................... ...................... ...................... ...................... or older ........ 0 2,600 5,100 7,700 10,200 12,800 15,400 17,900 20,500 23,000 25,600 28,200 30,700 33,300 35,800 38,400 39,300 40,300 41,300 42,300 43,400 44,500 45,600 46,700 47,900 49,000 50,500 51,800 53,300 54,600 56,300 57,600 59,300 61,100 62,900 64,700 66,600 68,500 70,800 72,800 75,200 0 1,100 2,100 3,200 4,300 5,300 6,400 7,500 8,500 9,600 10,700 11,700 12,800 13,900 14,900 16,000 16,400 16,700 17,100 17,600 17,900 18,300 18,800 19,200 19,700 20,100 20,500 21,000 21,500 22,100 22,600 23,200 23,700 24,400 25,000 25,700 26,300 27,000 27,800 28,500 29,300 INDEPENDENT STUDENTS WITHOUT DEPENDENTS OTHER THAN A SPOUSE And they are Married If the age of the student is Single Then the education savings and asset protection allowance is— 25 26 27 28 29 30 31 32 33 34 35 36 37 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 or less .......... ...................... ...................... ...................... ...................... ...................... ...................... ...................... ...................... ...................... ...................... ...................... ...................... ...................... ...................... ...................... ...................... ...................... ...................... ...................... ...................... ...................... ...................... ...................... ...................... ...................... ...................... ...................... ...................... ...................... ...................... ...................... ...................... ...................... ...................... ...................... ...................... ...................... ...................... ...................... or older ........ 0 2,600 5,100 7,700 10,200 12,800 15,400 17,900 20,500 23,000 25,600 28,200 30,700 33,300 35,800 38,400 39,300 40,300 41,300 42,300 43,400 44,500 45,600 46,700 47,900 49,000 50,500 51,800 53,300 54,600 56,300 57,600 59,300 61,100 62,900 64,700 66,600 68,500 70,800 72,800 75,200 0 1,100 2,100 3,200 4,300 5,300 6,400 7,500 8,500 9,600 10,700 11,700 12,800 13,900 14,900 16,000 16,400 16,700 17,100 17,600 17,900 18,300 18,800 19,200 19,700 20,100 20,500 21,000 21,500 22,100 22,600 23,200 23,700 24,400 25,000 25,700 26,300 27,000 27,800 28,500 29,300 hsrobinson on PROD1PC76 with NOTICES VerDate Aug<31>2005 Jkt 211001 ...................... ...................... ...................... ...................... ...................... ...................... ...................... ...................... ...................... ...................... ...................... ...................... ...................... ...................... ...................... ...................... ...................... ...................... ...................... ...................... ...................... ...................... ...................... ...................... ...................... ...................... ...................... ...................... ...................... ...................... ...................... ...................... ...................... ...................... or older ........ Then the contribution is— .................................................................................. .................................................................................. .................................................................................. .................................................................................. .................................................................................. .................................................................................. 18:10 May 31, 2007 31 32 33 34 35 36 37 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 15,400 17,900 20,500 23,000 25,600 28,200 30,700 33,300 35,800 38,400 39,300 40,300 41,300 42,300 43,400 44,500 45,600 46,700 47,900 49,000 50,500 51,800 53,300 54,600 56,300 57,600 59,300 61,100 62,900 64,700 66,600 68,500 70,800 72,800 75,200 6,400 7,500 8,500 9,600 10,700 11,700 12,800 13,900 14,900 16,000 16,400 16,700 17,100 17,600 17,900 18,300 18,800 19,200 19,700 20,100 20,500 21,000 21,500 22,100 22,600 23,200 23,700 24,400 25,000 25,700 26,300 27,000 27,800 28,500 29,300 4. Assessment Schedules and Rates. Two schedules that are subject to updates, one for parents of dependent students and one for independent INDEPENDENT STUDENTS WITH students with dependents other than a DEPENDENTS OTHER THAN A SPOUSE spouse, are used to determine the EFC toward educational expenses from And they are family financial resources. For dependent students, the EFC is derived Married Single from an assessment of the parents’ adjusted available income (AAI). For If the age of the student is Then the education sav- independent students with dependents ings and asset protection other than a spouse, the EFC is derived from an assessment of the family’s AAI. allowance is— The AAI represents a measure of a 25 or less .......... 0 0 family’s financial strength, which 26 ...................... 2,600 1,100 considers both income and assets. 27 ...................... 5,100 2,100 The parents’ contribution for a 28 ...................... 7,700 3,200 29 ...................... 10,200 4,300 dependent student is computed 30 ...................... 12,800 5,300 according to the following schedule: If AAI is— Less than ¥$3,409 ($3,409) to $13,700 $13,701 to $17,300 $17,301 to $20,800 $20,801 to $24,300 $24,301 to $27,800 INDEPENDENT STUDENTS WITH DEPENDENTS OTHER THAN A SPOUSE—Continued PO 00000 Frm 00035 Fmt 4703 ¥$750. 22% of AAI. $3,014 + 25% $3,914 + 29% $4,929 + 34% $6,119 + 40% Sfmt 4703 of of of of AAI AAI AAI AAI over over over over $13,700. $17,300. $20,800. $24,300. E:\FR\FM\01JNN1.SGM 01JNN1 30571 Federal Register / Vol. 72, No. 105 / Friday, June 1, 2007 / Notices If AAI is— Then the contribution is— $27,801 or more ....................................................................................... The contribution for an independent student with dependents other than a $7,519 + 47% of AAI over $27,800. spouse is computed according to the following schedule: If AAI is— Then the contribution is— Less than ¥$3,409 .................................................................................. ($3,409) to $13,700 .................................................................................. $13,701 to $17,300 .................................................................................. $17,301 to $20,800 .................................................................................. $20,801 to $24,300 .................................................................................. $24,301 to $27,800 .................................................................................. $27,801 or more ....................................................................................... 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. ¥$750. 22% of AAI. $3,014 + 25% $3,914 + 29% $4,929 + 34% $6,119 + 40% $7,519 + 47% of of of of of AAI AAI AAI AAI AAI 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 $3,300 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. over over over over over $13,700. $17,300. $20,800. $24,300. $27,800. 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 State hsrobinson on PROD1PC76 with NOTICES Under $15,000 (percent) 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 ............................................................................................................... VerDate Aug<31>2005 18:10 May 31, 2007 Jkt 211001 PO 00000 Frm 00036 Fmt 4703 Sfmt 4703 $15,000 & up (percent) 3 2 4 4 7 4 7 4 7 3 6 4 5 5 4 5 5 5 3 6 7 6 5 6 4 5 5 5 3 5 8 4 E:\FR\FM\01JNN1.SGM All (percent) 2 1 3 3 6 3 6 3 6 2 5 3 4 4 3 4 4 4 2 5 6 5 4 5 3 4 4 4 2 4 7 3 01JNN1 Dependents and independents without dependents other than a spouse 2 0 3 3 5 3 4 3 6 1 3 4 3 2 3 3 3 4 2 4 5 4 3 4 2 3 3 3 1 1 4 3 30572 Federal Register / Vol. 72, No. 105 / Friday, June 1, 2007 / Notices Parents of dependents and independents with dependents other than a spouse State Under $15,000 (percent) New York ................................................................................................................... North Carolina ............................................................................................................ North Dakota .............................................................................................................. Ohio ........................................................................................................................... Oklahoma ................................................................................................................... Oregon ....................................................................................................................... Pennsylvania .............................................................................................................. Rhode Island .............................................................................................................. South Carolina ........................................................................................................... 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: https://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: https://www.gpoaccess.gov/nara/ index.html. hsrobinson on PROD1PC76 with NOTICES (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 29, 2007. Theresa S. Shaw, Chief Operating Officer, Federal Student Aid. [FR Doc. E7–10621 Filed 5–31–07; 8:45 am] BILLING CODE 4000–01–P VerDate Aug<31>2005 18:10 May 31, 2007 Jkt 211001 9 6 2 6 6 7 5 7 5 2 2 3 5 5 5 4 3 7 2 3 ELECTION ASSISTANCE COMMISSION Cancellation Notice of a Sunshine Act Meeting United States Election Assistance Commission (EAC). ACTION: Notice to Cancel EAC Standards Board Virtual Public Meeting. AGENCY: SUMMARY: The U.S. Election Assistance Commission has cancelled the EAC Standards Board Virtual Public Meeting scheduled for Monday, June 18, 2007, 7 a.m. EDT through Wednesday, June 20, 5 p.m. EDT. The meeting was announced in a sunshine notice that was published in the Federal Register on Thursday, May 31, 2007. PERSON TO CONTACT FOR INFORMATION: Bryan Whitener, Telephone: (202) 566–3100. Gracia M. Hillman, Commissioner, U.S. Election Assistance Commission. [FR Doc. 07–2772 Filed 5–30–07; 3:31 pm] BILLING CODE 6820–KF–M DEPARTMENT OF ENERGY Notice of Availability of the Draft Environmental Impact Statement for the FutureGen Project Department of Energy. Notice of availability and public hearings. AGENCY: ACTION: SUMMARY: The U.S. Department of Energy (DOE) announces the availability PO 00000 Frm 00037 Fmt 4703 Sfmt 4703 $15,000 & up (percent) Dependents and independents without dependents other than a spouse All (percent) 8 5 1 5 5 6 4 6 4 1 1 2 4 4 4 3 2 6 1 2 6 4 1 4 3 5 3 4 3 1 1 1 4 3 3 2 2 4 1 2 of the document, Draft Environmental Impact Statement for the FutureGen Project (DOE/EIS–0394D), for public comment. The draft environmental impact statement (EIS) analyzes the potential environmental consequences of DOE’s proposed action to provide federal funding for the FutureGen Project. The Project would include the planning, design, construction and operation of the FutureGen facility, a prototype electric power and hydrogen gas generating plant that employs coal gasification technology integrated with combined-cycle electricity generation and the capture and geologic sequestration of the carbon dioxide (CO2) emissions. The project would also include a research platform, which would be a principal feature of the prototype plant. The proposed action would be undertaken by a private sector, non-profit consortium of industrial participants known as the FutureGen Alliance, Inc., (the Alliance). The Alliance includes some of the largest coal producers and electricity generators in the world. Under a Cooperative Agreement between DOE and the Alliance, the Alliance would be primarily responsible for implementing the FutureGen Project, while DOE would guide the Alliance at a programmatic level to ensure the FutureGen Project’s objectives are met. The Department prepared the draft EIS in accordance with the National Environmental Policy Act of 1969 (NEPA) (42 U.S.C. 4321 et seq.), the Council on Environmental Quality E:\FR\FM\01JNN1.SGM 01JNN1

Agencies

[Federal Register Volume 72, Number 105 (Friday, June 1, 2007)]
[Notices]
[Pages 30568-30572]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: E7-10621]


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

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, U.S. Department of Education.

ACTION: Notice of revision of the Federal Need Analysis Methodology for 
the 2008-2009 award year.

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

SUMMARY: The Secretary 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 
2008-2009 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, 
Federal Perkins Loan, Federal Work-Study, Federal Supplemental 
Educational Opportunity Grant, 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 Title IV requires the Secretary to adjust 
four of the tables--the Income Protection Allowance, the Adjusted Net 
Worth of a Farm or Business, 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 2008-2009 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 2006 and December 2007. However, because 
the Secretary must publish these tables before December 2007, 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 2006. The Secretary estimates that the increase in the 
Consumer Price Index for All Urban Consumers (CPI-U) for the period 
December 2006 through December 2007 will be 2.8 percent. Additionally, 
the Higher Education Reconciliation Act of 2005 (HERA, Pub. L. 109-171) 
modified the updating procedure for the income protection allowance for 
dependent students and the income protection allowance tables for both 
independent students with dependents other than a spouse and 
independent students without dependents other than a spouse. HERA 
established new 2007-08 award year values for these income protection 
allowances, which are being updated for the 2008-09 award year using 
the Secretary's estimated inflation rate of 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 2008-2009 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 family 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 2008-2009 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 $3,080. The income protection allowances for parents of dependent 
students for award year 2008-2009 are:

[[Page 30569]]



                                          Parents of Dependent Students
----------------------------------------------------------------------------------------------------------------
                                                                           Number in college
                     Family size                     -----------------------------------------------------------
                                                           1           2           3           4           5
----------------------------------------------------------------------------------------------------------------
2...................................................     $15,380     $12,750
3...................................................      19,150      16,540     $13,900
4...................................................      23,660      21,020      18,410     $15,770
5...................................................      27,910      25,280      22,660      20,030     $17,410
6...................................................      32,650      30,010      27,400      24,770      22,150
----------------------------------------------------------------------------------------------------------------

    For each additional family member add $3,680.
    For each additional college student subtract $2,620.
    The income protection allowances for independent students with 
dependents other than a spouse for award year 2008-2009 are:

                            Independent Students With Dependents Other Than a Spouse
----------------------------------------------------------------------------------------------------------------
                                                                           Number in college
                     Family size                     -----------------------------------------------------------
                                                           1           2           3           4           5
----------------------------------------------------------------------------------------------------------------
2...................................................     $15,750     $13,060  ..........  ..........  ..........
3...................................................      19,610      16,930     $14,240  ..........  ..........
4...................................................      24,220      21,530      18,850     $16,150  ..........
5...................................................      28,580      25,880      23,200      20,510     $17,830
6...................................................      33,420      30,730      28,060      25,350      22,680
----------------------------------------------------------------------------------------------------------------

    For each additional family member add $3,770.
    For each additional college student subtract $2,680.
    The income protection allowances for single independent students 
and independent students without dependents other than a spouse for 
award year 2008-2009 are:

------------------------------------------------------------------------
                                                   Number in
                 Marital status                     college       IPA
------------------------------------------------------------------------
Single..........................................           1      $6,220
Married.........................................           2       6,220
Married.........................................           1       9,970
------------------------------------------------------------------------

    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  Then the adjusted net worth is--
                  is--
------------------------------------------------------------------------
Less than $1...........................  $0.
$1 to $110,000.........................  $0 + 40% of NW.
$110,001 to $330,000...................  $44,000 + 50% of NW over
                                          $110,000.
$330,001 to $550,000...................  $154,000 + 60% of NW over
                                          $330,000.
$550,001 or more.......................  $286,000 + 100% of NW over
                                          $550,000.
------------------------------------------------------------------------

    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.

[[Page 30570]]



                           Dependent Students
------------------------------------------------------------------------
 
------------------------------------------------------------------------
                                                      And they are
                                               -------------------------
                                                Two parents   One parent
                                               -------------------------
If the age of the student is                       Then the education
                                                    savings and asset
                                                protection allowance is--
 
------------------------------------------------------------------------
25 or less....................................            0            0
26............................................        2,600        1,100
27............................................        5,100        2,100
28............................................        7,700        3,200
29............................................       10,200        4,300
30............................................       12,800        5,300
31............................................       15,400        6,400
32............................................       17,900        7,500
33............................................       20,500        8,500
34............................................       23,000        9,600
35............................................       25,600       10,700
36............................................       28,200       11,700
37............................................       30,700       12,800
38............................................       33,300       13,900
39............................................       35,800       14,900
40............................................       38,400       16,000
41............................................       39,300       16,400
42............................................       40,300       16,700
43............................................       41,300       17,100
44............................................       42,300       17,600
45............................................       43,400       17,900
46............................................       44,500       18,300
47............................................       45,600       18,800
48............................................       46,700       19,200
49............................................       47,900       19,700
50............................................       49,000       20,100
51............................................       50,500       20,500
52............................................       51,800       21,000
53............................................       53,300       21,500
54............................................       54,600       22,100
55............................................       56,300       22,600
56............................................       57,600       23,200
57............................................       59,300       23,700
58............................................       61,100       24,400
59............................................       62,900       25,000
60............................................       64,700       25,700
61............................................       66,600       26,300
62............................................       68,500       27,000
63............................................       70,800       27,800
64............................................       72,800       28,500
65 or older...................................       75,200       29,300
------------------------------------------------------------------------


       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............................................        2,600        1,100
27............................................        5,100        2,100
28............................................        7,700        3,200
29............................................       10,200        4,300
30............................................       12,800        5,300
31............................................       15,400        6,400
32............................................       17,900        7,500
33............................................       20,500        8,500
34............................................       23,000        9,600
35............................................       25,600       10,700
36............................................       28,200       11,700
37............................................       30,700       12,800
38............................................       33,300       13,900
39............................................       35,800       14,900
40............................................       38,400       16,000
41............................................       39,300       16,400
42............................................       40,300       16,700
43............................................       41,300       17,100
44............................................       42,300       17,600
45............................................       43,400       17,900
46............................................       44,500       18,300
47............................................       45,600       18,800
48............................................       46,700       19,200
49............................................       47,900       19,700
50............................................       49,000       20,100
51............................................       50,500       20,500
52............................................       51,800       21,000
53............................................       53,300       21,500
54............................................       54,600       22,100
55............................................       56,300       22,600
56............................................       57,600       23,200
57............................................       59,300       23,700
58............................................       61,100       24,400
59............................................       62,900       25,000
60............................................       64,700       25,700
61............................................       66,600       26,300
62............................................       68,500       27,000
63............................................       70,800       27,800
64............................................       72,800       28,500
65 or older...................................       75,200       29,300
------------------------------------------------------------------------


        Independent Students With 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............................................        2,600        1,100
27............................................        5,100        2,100
28............................................        7,700        3,200
29............................................       10,200        4,300
30............................................       12,800        5,300
31............................................       15,400        6,400
32............................................       17,900        7,500
33............................................       20,500        8,500
34............................................       23,000        9,600
35............................................       25,600       10,700
36............................................       28,200       11,700
37............................................       30,700       12,800
38............................................       33,300       13,900
39............................................       35,800       14,900
40............................................       38,400       16,000
41............................................       39,300       16,400
42............................................       40,300       16,700
43............................................       41,300       17,100
44............................................       42,300       17,600
45............................................       43,400       17,900
46............................................       44,500       18,300
47............................................       45,600       18,800
48............................................       46,700       19,200
49............................................       47,900       19,700
50............................................       49,000       20,100
51............................................       50,500       20,500
52............................................       51,800       21,000
53............................................       53,300       21,500
54............................................       54,600       22,100
55............................................       56,300       22,600
56............................................       57,600       23,200
57............................................       59,300       23,700
58............................................       61,100       24,400
59............................................       62,900       25,000
60............................................       64,700       25,700
61............................................       66,600       26,300
62............................................       68,500       27,000
63............................................       70,800       27,800
64............................................       72,800       28,500
65 or older...................................       75,200       29,300
------------------------------------------------------------------------

    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 $13,700....................  22% of AAI.
$13,701 to $17,300.....................  $3,014 + 25% of AAI over
                                          $13,700.
$17,301 to $20,800.....................  $3,914 + 29% of AAI over
                                          $17,300.
$20,801 to $24,300.....................  $4,929 + 34% of AAI over
                                          $20,800.
$24,301 to $27,800.....................  $6,119 + 40% of AAI over
                                          $24,300.

[[Page 30571]]

 
$27,801 or more........................  $7,519 + 47% of AAI over
                                          $27,800.
------------------------------------------------------------------------

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

------------------------------------------------------------------------
              If AAI is--                   Then the contribution is--
------------------------------------------------------------------------
Less than -$3,409......................  -$750.
($3,409) to $13,700....................  22% of AAI.
$13,701 to $17,300.....................  $3,014 + 25% of AAI over
                                          $13,700.
$17,301 to $20,800.....................  $3,914 + 29% of AAI over
                                          $17,300.
$20,801 to $24,300.....................  $4,929 + 34% of AAI over
                                          $20,800.
$24,301 to $27,800.....................  $6,119 + 40% of AAI over
                                          $24,300.
$27,801 or more........................  $7,519 + 47% of AAI over
                                          $27,800.
------------------------------------------------------------------------

    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 $3,300 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                  3
Arkansas...............................................                  4                  3                  3
California.............................................                  7                  6                  5
Colorado...............................................                  4                  3                  3
Connecticut............................................                  7                  6                  4
Delaware...............................................                  4                  3                  3
District of Columbia...................................                  7                  6                  6
Florida................................................                  3                  2                  1
Georgia................................................                  6                  5                  3
Hawaii.................................................                  4                  3                  4
Idaho..................................................                  5                  4                  3
Illinois...............................................                  5                  4                  2
Indiana................................................                  4                  3                  3
Iowa...................................................                  5                  4                  3
Kansas.................................................                  5                  4                  3
Kentucky...............................................                  5                  4                  4
Louisiana..............................................                  3                  2                  2
Maine..................................................                  6                  5                  4
Maryland...............................................                  7                  6                  5
Massachusetts..........................................                  6                  5                  4
Michigan...............................................                  5                  4                  3
Minnesota..............................................                  6                  5                  4
Mississippi............................................                  4                  3                  2
Missouri...............................................                  5                  4                  3
Montana................................................                  5                  4                  3
Nebraska...............................................                  5                  4                  3
Nevada.................................................                  3                  2                  1
New Hampshire..........................................                  5                  4                  1
New Jersey.............................................                  8                  7                  4
New Mexico.............................................                  4                  3                  3

[[Page 30572]]

 
New York...............................................                  9                  8                  6
North Carolina.........................................                  6                  5                  4
North Dakota...........................................                  2                  1                  1
Ohio...................................................                  6                  5                  4
Oklahoma...............................................                  6                  5                  3
Oregon.................................................                  7                  6                  5
Pennsylvania...........................................                  5                  4                  3
Rhode Island...........................................                  7                  6                  4
South Carolina.........................................                  5                  4                  3
South Dakota...........................................                  2                  1                  1
Tennessee..............................................                  2                  1                  1
Texas..................................................                  3                  2                  1
Utah...................................................                  5                  4                  4
Vermont................................................                  5                  4                  3
Virginia...............................................                  5                  4                  3
Washington.............................................                  4                  3                  2
West Virginia..........................................                  3                  2                  2
Wisconsin..............................................                  7                  6                  4
Wyoming................................................                  2                  1                  1
Other..................................................                  3                  2                  2
----------------------------------------------------------------------------------------------------------------

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Department published in the Federal Register, in text or Adobe Portable 
Document Format (PDF) on the Internet at the following site: https://
www.ed.gov/news/fedregister.
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free at this site. If you have questions about using PDF, call the U.S. 
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    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: https://www.gpoaccess.gov/
nara/.


(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 29, 2007.
Theresa S. Shaw,
Chief Operating Officer, Federal Student Aid.
[FR Doc. E7-10621 Filed 5-31-07; 8:45 am]
BILLING CODE 4000-01-P
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