1. Short title
This Act may be cited as the “Strengthening Financial Aid for Students Act (Strengthening FAFSA)”.
Strengthening Financial Aid for Students Act (Strengthening FAFSA)
A BILL
To amend the Higher Education Act of 1965 to increase support for working students, and for other purposes.
2. Increasing support for working students by 35 percent
Dependent students— Section 475(g)(2)(D) of the Higher Education Act of 1965 (20 U.S.C. 1087oo(g)(2)(D)) is amended to read as follows:
“(D) an income protection allowance (or a successor amount prescribed by the Secretary under section 478) of $9,230 for award year 2020–2021;”
Independent students without dependents other than a spouse— Section 476 of such Act (20 U.S.C. 1087pp) is amended—
in subsection (a)(2), by striking “award period” and inserting “award year”; and
by amending subsection (b)(1)(A)(iv) to read as follows:
“(iv) an income protection allowance (or a successor amount prescribed by the Secretary under section 478)—
“(I) for single or separated students, or married students where both are enrolled pursuant to subsection (a)(2), of $14,360 for award year 2020–2021; and
“(II) for married students where one is enrolled pursuant to subsection (a)(2), of $23,030 for award year 2020–2021;”
Independent students with dependents other than a spouse— Section 477 of such Act (20 U.S.C. 1087qq) is amended—
in subsection (a)(3), by striking “award period” and inserting “award year”; and
by amending subsection (b)(4) to read as follows:
“(4) Income protection allowance—The income protection allowance is determined by the following table (or a successor table prescribed by the Secretary under section 478), for award year 2020–2021:”
in subsection (b)—
in paragraph (1), by striking subparagraphs (A) and (B) and inserting the following:
“(A) In general—For each award year after award year 2020–2021, the Secretary shall publish in the Federal Register a revised table of income protection allowances for the purpose of sections 475(c)(4) and 477(b)(4), subject to subparagraphs (B) and (C).
“(B) Table for independent students—For each award year after award year 2020–2021, the Secretary shall develop the revised table of income protection allowances by increasing each of the dollar amounts contained in the table of income protection allowances under section 477(b)(4) by a percentage equal to the estimated percentage increase in the Consumer Price Index (as determined by the Secretary for the most recent calendar year ending prior to the beginning of the award year for which the determination is being made), and rounding the result up to the nearest $10.”
in paragraph (2)—
in the first sentence, by striking “academic year after academic year 2007–2008” and inserting “award year after award year 2020–2021”; and
in the second sentence, by striking “shall be developed” and all that follows through the period at the end and inserting “shall be developed for each award year after award year 2020–2021, by increasing each of the dollar amounts contained in such section for award year 2020–2021 by a percentage equal to the estimated percentage increase in the Consumer Price Index (as determined by the Secretary for the most recent calendar year ending prior to the beginning of the award year for which the determination is being made), and rounding the result up to the nearest $10.”; and
in subsection (e)(1), by striking “academic year” and inserting “award year”.
3. Raising the total semesters of Federal Pell Grant eligibility
Section 401(c)(5)(A) of the Higher Education Act of 1965 (20 U.S.C. 1070a(c)(5)) is amended by striking “12” each place the term appears and inserting “14”.