Working Student Act of 2015

To amend the Higher Education Act of 1965 to increase the income protection allowances. 1. Short title This Act may be cited as the Working Student Act of 2015 2. Support for working students (a) Dependent students Section 475(g)(2)(D) of the Higher Education Act of 1965 ( 20 U.S.C. 1087oo(g)(2)(D) (D) an income protection allowance (or a successor amount prescribed by the Secretary under section 478) of $8,519 for academic year 2016–2017; . (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) (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 $13,244 for academic year 2016–2017; and (II) for married students where 1 is enrolled pursuant to subsection (a)(2), of $21,222 for academic year 2016–2017; . (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) (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 2016–2017: Income Protection Allowance Family Number in College (including 1 2 3 4 5 For each additional subtract: 2 $33,534 $27,797 $4,230 3 41,742 36,045 $30,308 4 51,543 45,833 40,122 $34,385 5 60,831 55,080 49,370 43,659 $37,949 6 71,321 65,408 59,724 53,960 48,276 For each additional add: 5,950 . (d) Updated tables and amounts Section 478(b) of the Higher Education Act of 1965 ( 20 U.S.C. 1087rr(b) (1) in paragraph (1), by striking subparagraphs (A) and (B) and inserting the following: (A) In general For each academic year after academic year 2016–2017, 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 2016–2017, 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) between December 2014 and the December next preceding the beginning of such academic year, and rounding the result to the nearest $10. ; and (2) in paragraph (2), by striking shall be developed shall be developed for each academic year after academic year 2016–2017, by increasing each of the dollar amounts contained in such section for academic year 2016–2017 by a percentage equal to the estimated percentage increase in the Consumer Price Index (as determined by the Secretary) between December 2014 and the December next preceding the beginning of such academic year, and rounding the result to the nearest $10. (e) Effective date The amendments made by this section shall be effective on July 1, 2016.

Summary: Working Student Act of 2015 This bill amends title IV (Student Assistance) of 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.) Specifically, the bill increases, in academic year 2016-2017, income protection allowance levels for students who are dependent, independent without non-spouse dependents (e.g., children), and independent with non-spouse dependents to reduce such students' income available (and increase need for financial assistance) to cover postsecondary educational expenses. The Department of Education must, in subsequent years, adjust the income protection allowance levels for inflation.