SECTION 1. SHORT TITLE.

    This Act may be cited as the ``Working Students Act''.

SEC. 2. INCREASING SUPPORT FOR WORKING STUDENTS BY 35 PERCENT.

    (a) 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 $9,010 for academic year 2018-2019;''.
    (b) Independent Students Without Dependents Other Than a Spouse.--
Section 476(b)(1)(A)(iv) of the Higher Education Act of 1965 (20 U.S.C. 
1087pp(b)(1)(A)(iv)) is amended 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 $14,010 for 
                                academic year 2018-2019; and
                                    ``(II) for married students where 1 
                                is enrolled pursuant to subsection 
                                (a)(2), of $22,460 for academic year 
                                2018-2019;''.
    (c) Independent Students With Dependents Other Than a Spouse.--
Section 477(b)(4) of the Higher Education Act of 1965 (20 U.S.C. 
1087qq(b)(4)) is amended 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 
        academic year 2018-2019:

                                          ``Income Protection Allowance
----------------------------------------------------------------------------------------------------------------
  Family  Size                                          Number in College
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                                                                                                     For each
   (including           1               2               3               4               5           additional
    student)                                                                                        subtract:
----------------------------------------------------------------------------------------------------------------
      2              $35,470         $29,410                                                           $6,030
      3               44,170          38,130         $32,070
      4               54,540          45,490          42,450         $36,370
      5               64,360          58,280          52,240          46,190         $40,160
      6               75,260          69,210          63,190          57,090          51,070
For each
additional
   add:                8,500                                                                              ''.
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    (d) Updated Tables and Amounts.--Section 478(b) of the Higher 
Education Act of 1965 (20 U.S.C. 1087rr(b)) is amended--
            (1) in paragraph (1), by striking subparagraphs (A) and (B) 
        and inserting the following:
                    ``(A) In general.--For each academic year after 
                academic year 2018-2019, 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 
                academic year after academic year 2018-2019, 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 academic year for which the 
                determination is being made), and rounding the result 
                to the nearest $10.''; and
            (2) in paragraph (2), by striking ``shall be developed'' 
        and all that follows through the period at the end and 
        inserting ``shall be developed for each academic year after 
        academic year 2018-2019, by increasing each of the dollar 
        amounts contained in such section for academic year 2018-2019 
        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 academic year for which the determination is being made), 
        and rounding the result to the nearest $10.''.
    (e) Effective Date.--The amendments made by this section shall take 
effect beginning on July 1, 2018, and shall apply to grant and award 
determinations made under title IV of the Higher Education Act of 1965 
(20 U.S.C. 1001 et seq.) beginning with the 2018-2019 award year.
Working Students Act This bill amends the Higher Education Act of 1965 to modify the income protection allowance levels used to calculate a student's expected family contribution and need for financial assistance. (An income protection allowance is an amount for basic living expenses that is protected from being considered income available for postsecondary educational expenses.)
Working Students Act