Page:United States Statutes at Large Volume 106 Part 1.djvu/626

 106 STAT. 594 PUBLIC LAW 102-325—JULY 23, 1992 "(A) the parents' adjusted available income (determined in accordance with subsection (b)(1)) is increased by the difference between the income protection allowance (determined in accordance with subsection (c)(4)) for a family of four and a family of five, each with one child in college; "(B) the resulting revised parents' adjusted available income is assessed according to subsection (e) and adjusted according to subsection (b)(3) to determine a revised parents' contribution from adjusted available income; "(C) the original parents' contribution from adjusted available income is subtracted from the revised parents' contribution from adjusted available income, and the result is divided by 12 to determine the monthly adjustment amount; and "(D) the original parents' contribution from adjusted available income is increased by the product of the monthly adjustment amount multiplied by the number of months greater than 9 for which the student will be enrolled. 20 USC 1087pp. "SEC. 476. FAMILY CONTRmUTION FOR INDEPENDENT STUDENTS WITHOUT DEPENDENTS OTHER THAN A SPOUSE. "(a) COMPUTATION OF EXPECTED FAMILY CONTRIBUTION.— For each independent student without dependents other than a spouse, the expected family contribution is determined by— "(1) adding— "(A) the famil5^s contribution from available income (determined in accordance with subsection (b)); and "(B) the famil3r's contribution from assets (determined in accordance wim subsection (c)); and "(2) dividing the stun resulting xinder paragraph (1) by the number of students who are enrolled or accepted for enrollment, on at least a half-time basis, in a degree, certificate, or otiier program leading to a recognized educational credential at an institution of higher education that is an eligible institution in accordance with the provisions of section 487 during the award period for which assistance under this title is requested; except that the amount determined under this subsection shall not be less than zero. "(b) FAMILY'S CONTRIBUTION FROM AVAILABLE INCOME. — "(1) IN GENERAL.—The familj^s contribution from income is determined by— "(A) deducting from total income (as defined in section 480)— "(i) Federal income taxes; "(ii) an allowance for State and other taxes, determined in accordance with paragraph (2); "(iii) an allowance for social security taxes, determined in accordance with paragraph (3); "(iv) an income protection allowance of— "(I) $3,000 for single students; "(II) $3,000 for married students where both are enrolled pursuant to subsection (a)(2); and "(III) $6,000 for married students where one is enrolled pursuant to subsection (a)(2); and "(v) in the case where a spouse is present, an employ- ment expense allowance, as determined in accordance with paragraph (4); and

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