H.R. 3841 (Introduced in House) — To amend the Higher Education Act of 1965 to provide that foreign income be considered in the determination of eligibility for grants and loans under that Act.

Section 480(b) of the Higher Education Act of 1965 (20 U.S.C. 1087vv(b)) is amended—

(1)

in paragraph (1)—

(A)

by redesignating subparagraphs (H) and (I) as subparagraphs (I) and (J), respectively; and

(B)

by inserting after subparagraph (G) the following new subparagraph:

“(H) foreign income excluded for purposes of Federal income taxes;”

(2)

in paragraph (2)—

(A)

in subparagraph (D), by striking the semicolon and inserting “; or”;

(B)

by striking subparagraph (E); and

(C)

by redesignating subparagraph (F) as subparagraph (E).

To amend the Higher Education Act of 1965 to provide that foreign income be considered in the determination of eligibility for grants and loans under that Act.