Source: http://www.law.cornell.edu/uscode/text/20/1087vv?quicktabs_8=3
Timestamp: 2013-05-22 03:32:26
Document Index: 11673545

Matched Legal Cases: ['§ 1087', '§ 1087', '§ 1087', 'art 4', 'art 4', '§ 480', '§ 406', '§ 14', '§ 7', '§ 185', '§ 471', '§ 102', '§ 2', '§ 110', '§ 609', '§ 479', '§ 101', '§ 405', '§ 8019', '§ 604', '§ 1', '§ 473', '§ 406', '§ 12501', '§ 12511', '§ 2801', '§ 601', '§ 670', '§ 5701', '§ 11371', '§ 406', '§ 406', '§ 406', '§ 473', '§ 473', '§ 473', '§ 473', '§ 473', '§ 473', '§ 604', '§ 604', '§ 604', '§ 604', '§ 604', '§ 604', '§ 604', '§ 604', '§ 604', '§ 604', '§ 604', '§ 8019', '§ 8019', '§ 8019', '§ 8019', '§ 8019', '§ 8019', '§ 101', '§ 405', '§ 101', '§ 405', '§ 479', '§ 479', '§ 609', '§ 609', '§ 102', '§ 2', '§ 2', '§ 2', '§ 102', '§ 2', '§ 185', '§ 185', '§ 14', '§ 14', 'art 2', '§ 14', '§ 14', '§ 14', '§ 14', '§ 473', '§ 406', '§ 1', '§ 604', '§ 405', '§ 405', '§ 22', 'art 2', 'art 2']

20 USC § 1087vv - Definitions | Title 20 - Education | U.S. Code | LII / Legal Information Institute
USC › Title 20 › Chapter 28 › Subchapter IV › Part E › § 1087vv	prevnext
20 USC § 1087vv - Definitions
housing, food, and other allowances (excluding rent subsidies for low-income housing) for military, clergy, and others (including cash payments and cash value of benefits), except that the value of on-base military housing or the value of basic allowance for housing determined under section 403
(b) of title 37 received by the parents, in the case of a dependent student, or the student or student’s spouse, in the case of an independent student, shall be excluded;
Veteran and veterans’ education benefits (1)
Independent student (1)
Definition The term “independent”, when used with respect to a student, means any individual who—
a local educational agency homeless liaison, designated pursuant to section 722(g)(1)(J)(ii) of the McKinney-Vento Homeless Assistance Act [42 U.S.C. 11432
(g)(1)(J)(ii)];
Simplifying the dependency override process A financial aid administrator may make a determination of independence under paragraph (1)(I) based upon a documented determination of independence that was previously made by another financial aid administrator under such paragraph in the same award year.
Excludable income The term “excludable income” means—
With respect to determinations of need under this subchapter and part C of subchapter I of chapter 34 of title 42, other than for subpart 4 of part A of this subchapter, the term “assets” shall not include the net value of—
In determining the value of assets in a determination of need under this subchapter and part C of subchapter I of chapter 34 of title 42 (other than for subpart 4 of part A of this subchapter), the value of a qualified education benefit shall be—
a qualified tuition program (as defined in section 529
(b)(1)(A) of title 26) or other prepaid tuition plan offered by a State; and
a Coverdell education savings account (as defined in section 530
(b)(1) of title 26).
The term “qualified higher education expenses” has the meaning given the term in section 529
Net assets The term “net assets” means the current market value at the time of application of the assets (as defined in subsection (f) of this section), minus the outstanding liabilities or indebtedness against the assets.
Treatment of income taxes paid to other jurisdictions (1)
Current balance The term “current balance of checking and savings accounts” does not include any funds over which an individual is barred from exercising discretion and control because of the actions of any State in declaring a bank emergency due to the insolvency of a private deposit insurance fund.
Other financial assistance (1)
Notwithstanding paragraph (1), a tax credit taken under section 25A of title 26, or a distribution that is not includable in gross income under section 529 of such title, under another prepaid tuition plan offered by a State, or under a Coverdell education savings account under section 530 of such title, shall not be treated as estimated financial assistance for purposes of section 1087kk
Notwithstanding paragraph (1), special combat pay shall not be treated as estimated financial assistance for purposes of section 1087kk
Business assets The term “business assets” means property that is used in the operation of a trade or business, including real estate, inventories, buildings, machinery, and other equipment, patents, franchise rights, and copyrights.
Special combat pay The term “special combat pay” means pay received by a member of the Armed Forces because of exposure to a hazardous situation.
(Pub. L. 89–329, title IV, § 480, as added Pub. L. 99–498, title IV, § 406(a),Oct. 17, 1986, 100 Stat. 1472; amended Pub. L. 100–50, § 14(28),June 3, 1987, 101 Stat. 353; Pub. L. 100–369, § 7(b),July 18, 1988, 102 Stat. 837; Pub. L. 101–610, title I, § 185(3), (4),Nov. 16, 1990, 104 Stat. 3168; Pub. L. 102–325, title IV, § 471(a),July 23, 1992, 106 Stat. 606; Pub. L. 103–82, title I, § 102(c)(4), (5),Sept. 21, 1993, 107 Stat. 824; Pub. L. 103–208, § 2(g)(17)–(20), Dec. 20, 1993, 107 Stat. 2474; Pub. L. 104–193, title I, § 110(h)(2),Aug. 22, 1996, 110 Stat. 2172; Pub. L. 105–78, title VI, § 609(j), (k),Nov. 13, 1997, 111 Stat. 1524; Pub. L. 105–244, title IV, § 479,Oct. 7, 1998, 112 Stat. 1732; Pub. L. 105–277, div. A, § 101(f) [title VIII, § 405(d)(15)(B), (f)(12)(B)], Oct. 21, 1998, 112 Stat. 2681–337, 2681–421, 2681–431; Pub. L. 109–171, title VIII, § 8019,Feb. 8, 2006, 120 Stat. 176; Pub. L. 110–84, title VI, § 604(a),Sept. 27, 2007, 121 Stat. 806; Pub. L. 110–153, § 1(a),Dec. 21, 2007, 121 Stat. 1824; Pub. L. 110–315, title IV, § 473(a)–(e), Aug. 14, 2008, 122 Stat. 3270, 3271; Pub. L. 111–39, title IV, § 406(a)(6)–(8), July 1, 2009, 123 Stat. 1949, 1950.)
The National and Community Service Act of 1990, referred to in subsecs. (a)(2), (e)(3), and (j)(1), is Pub. L. 101–610, Nov. 16, 1990, 104 Stat. 3127, which is classified principally to chapter 129 (§ 12501 et seq.) of Title 42, The Public Health and Welfare. Title I of the Act enacted subchapter I (§ 12511 et seq.) of chapter 129 of Title 42 and amended this section and section 1070a–6 of this title. For complete classification of this Act to the Code, see Short Title note set out under section 12501 of Title 42 and Tables.
The Workforce Investment Act of 1998, referred to in subsec. (b)(1)(I), is Pub. L. 105–220, Aug. 7, 1998, 112 Stat. 936. Title I of the Act is classified principally to chapter 30 (§ 2801 et seq.) of Title 29, Labor. For complete classification of this Act to the Code, see Short Title note set out under section 9201 of this title and Tables.
The Social Security Act, referred to in subsecs. (b)(2)(B) and (e)(5), is act Aug. 14, 1935, ch. 531, 49 Stat. 620. Parts A and E of title IV of the Act are classified generally to parts A (§ 601 et seq.) and E (§ 670 et seq.) of subchapter IV of chapter 7 of Title 42, The Public Health and Welfare. For complete classification of this Act to the Code, see section 1305 of Title 42 and Tables.
Section 903 of the Department of Defense Authorization Act, 1981, referred to in subsec. (c)(2)(J), is section 903 ofPub. L. 96–342, which is set out as a note under section 2141 of Title 10, Armed Forces.
Section 156(b) of the “Joint Resolution making further continuing appropriations and providing for productive employment for the fiscal year 1983, and for other purposes”, referred to in subsec. (c)(2)(K), is section 156(b) ofPub. L. 97–377, which is set out as a note under section 402 of Title 42, The Public Health and Welfare.
The Runaway and Homeless Youth Act, referred to in subsec. (d)(1)(H)(ii), is title III of Pub. L. 93–415, Sept. 7, 1974, 88 Stat. 1129, which is classified generally to subchapter III (§ 5701 et seq.) of chapter 72 of Title 42, The Public Health and Welfare. For complete classification of this Act to the Code, see Short Title note set out under section 5601 of Title 42 and Tables.
The McKinney-Vento Homeless Assistance Act, referred to in subsec. (d)(1)(H)(iii), is Pub. L. 100–77, July 22, 1987, 101 Stat. 482. Subtitle B of title IV of the Act is classified generally to part B (§ 11371 et seq.) of subchapter IV of chapter 119 of Title 42, The Public Health and Welfare. For complete classification of this Act to the Code, see Short Title note set out under section 11301 of Title 42 and Tables.
Amendment by section 2(g)(19) ofPub. L. 103–208(which was effective as if included in Pub. L. 102–325) was executed to this section as amended by Pub. L. 102–325and Pub. L. 103–82, to reflect the probable intent of Congress.
2009—Subsec. (a)(2). Pub. L. 111–39, § 406(a)(6), substituted “12511” for “12571”.
Subsec. (c)(2). Pub. L. 111–39, § 406(a)(7), substituted “benefits under the following provisions of law” for “the following” in introductory provisions, added subpars. (A) to (L), and struck out former subpars. (A) to (J) which listed, respectively, the following provisions of law: title 10, chapter 2; title 10, chapter 106; title 10, chapter 107; title 37, chapter 2; title 38, chapter 30; title 38, chapter 31; title 38, chapter 32; title 38, chapter 35; Public Law 97–376, section 156; and Public Law 96–342, section 903.
Subsec. (j)(1). Pub. L. 111–39, § 406(a)(8), substituted “12511” for “12571”.
2008—Subsec. (a)(1). Pub. L. 110–315, § 473(a)(1), designated existing provisions as subpar. (A), inserted “subparagraph (B) and” after “provided in”, and added subpar. (B).
Subsec. (a)(2). Pub. L. 110–315, § 473(a)(2), inserted “no portion of veterans’ education benefits received by an individual,” after “any program by an individual,”.
Subsec. (b)(1)(E). Pub. L. 110–315, § 473(b), inserted “, except that the value of on-base military housing or the value of basic allowance for housing determined under section 403
(b) of title 37 received by the parents, in the case of a dependent student, or the student or student’s spouse, in the case of an independent student, shall be excluded” before semicolon.
Subsec. (d)(1)(B), (C). Pub. L. 110–315, § 473(c), added subpars. (B) and (C) and struck out former subpars. (B) and (C) which read as follows:
Subsec. (e)(2) to (6). Pub. L. 110–315, § 473(d), added par. (2) and redesignated former pars. (2) to (5) as (3) to (6), respectively.
Subsec. (j)(1). Pub. L. 110–315, § 473(e), struck out “veterans’ education benefits as defined in subsection (c) of this section, and” before “national service educational awards” and inserted “, but excluding veterans’ education benefits as defined in subsection (c)” before period at end.
2007—Subsec. (a)(2). Pub. L. 110–84, § 604(a)(1), substituted “no portion of any” for “and no portion of any” and inserted “and no distribution from any qualified education benefit described in subsection (f)(3) that is not subject to Federal income tax,” after “section 25A of title 26,”.
Subsec. (b). Pub. L. 110–84, § 604(a)(2), added subsec. (b) and struck out former subsec. (b) which defined “untaxed income and benefits”.
Subsec. (b)(2). Pub. L. 110–153added par. (2) and struck out former par. (2) which read as follows: “The term ‘untaxed income and benefits’ shall not include the amount of additional child tax credit claimed for Federal income tax purposes.”
Subsec. (d). Pub. L. 110–84, § 604(a)(3)(A), (B), designated existing provisions as par. (1), inserted par. heading, redesignated former pars. (1), (2), (3) to (6), and (7) as subpars. (A), (B), (D) to (G), and (I), respectively, and realigned margins.
Subsec. (d)(1)(B), (C). Pub. L. 110–84, § 604(a)(3)(C), added subpars. (B) and (C) and struck out former subpar. (B) which read as follows: “is an orphan or ward of the court or was a ward of the court until the individual reached the age of 18;”.
Subsec. (d)(1)(H). Pub. L. 110–84, § 604(a)(3)(D), (E), added subpar. (H).
Subsec. (d)(2). Pub. L. 110–84, § 604(a)(3)(F), added par. (2).
Subsec. (e)(5). Pub. L. 110–84, § 604(a)(4), added par. (5).
Subsec. (f)(3). Pub. L. 110–84, § 604(a)(5), added par. (3) and struck out former par. (3) which read as follows: “A qualified education benefit shall not be considered an asset of a student for purposes of section 1087oo of this title.”
Subsec. (j)(2). Pub. L. 110–84, § 604(a)(6)(A), inserted “, or a distribution that is not includable in gross income under section 529 of such title, under another prepaid tuition plan offered by a State, or under a Coverdell education savings account under section 530 of such title,” after “title 26”.
Subsec. (j)(4). Pub. L. 110–84, § 604(a)(6)(B), added par. (4).
Subsec. (n). Pub. L. 110–84, § 604(a)(7), added subsec. (n).
2006—Subsec. (d)(3). Pub. L. 109–171, § 8019(a), inserted “or is currently serving on active duty in the Armed Forces for other than training purposes” before semicolon at end.
Subsec. (f)(1). Pub. L. 109–171, § 8019(b), inserted “qualified education benefits (except as provided in paragraph (3)),” after “tax shelters,”.
Subsec. (f)(2)(C). Pub. L. 109–171, § 8019(c), added subpar. (C).
Subsec. (f)(3) to (5). Pub. L. 109–171, § 8019(d), added pars. (3) to (5).
Subsec. (j). Pub. L. 109–171, § 8019(e)(1), struck out “; tuition prepayment plans” at end of heading.
Subsec. (j)(2), (3). Pub. L. 109–171, § 8019(e)(2)–(4), struck out par. (2), redesignated par. (3) as (2), and added par. (3). Prior to amendment, par. (2) read as follows:
1998—Subsec. (b)(14). Pub. L. 105–277, § 101(f) [title VIII, § 405(f)(12)(B)], struck out “Job Training Partnership Act noneducational benefits or” after “railroad retirement benefits, or”.
Pub. L. 105–277, § 101(f) [title VIII, § 405(d)(15)(B)], substituted “Job Training Partnership Act noneducational benefits or benefits received through participation in employment and training activities under title I of the Workforce Investment Act of 1998” for “Job Training Partnership Act noneducational benefits”.
Subsec. (j)(1). Pub. L. 105–244, § 479(1), inserted before period at end “, and national service educational awards or post-service benefits under title I of the National and Community Service Act of 1990”.
Subsec. (j)(3), (4). Pub. L. 105–244, § 479(2), (3), redesignated par. (4) as (3) and struck out former par. (3) which read as follows: “Notwithstanding paragraph (1), a national service educational award or post-service benefit under title I of the National and Community Service Act of 1990 shall not be treated as financial assistance for purposes of section 1087kk
(3) of this title.”
1997—Subsec. (a)(2). Pub. L. 105–78, § 609(j), substituted “program by an individual, no” for “program by an individual, and no” and inserted “and no portion of any tax credit taken under section 25A of title 26,” before “shall be included”.
Subsec. (j)(4). Pub. L. 105–78, § 609(k), added par. (4).
1996—Subsec. (b)(2). Pub. L. 104–193substituted “assistance under a State program funded” for “aid to families with dependent children under a State plan approved”.
1993—Subsec. (a)(2). Pub. L. 103–82, § 102(c)(4), inserted “, and no portion of a national service educational award or post-service benefit received by an individual under title I of the National and Community Service Act of 1990,” after “by an individual”.
Subsec. (c)(2). Pub. L. 103–208, § 2(g)(17), made technical amendment to references to titles of the United States Code in subpars. (A) to (H).
Subsec. (d)(2). Pub. L. 103–208, § 2(g)(18), inserted before semicolon “or was a ward of the court until the individual reached the age of 18”.
Subsec. (j)(3). Pub. L. 103–208, § 2(g)(19), realigned margin. See Codification note above.
Pub. L. 103–82, § 102(c)(5), added par. (3).
Subsecs. (k) to (m). Pub. L. 103–208, § 2(g)(20), added subsecs. (k) to (m).
1992—Pub. L. 102–325amended section generally, substituting subsecs. (a) to (j) for former subsecs. (a) to (i).
1990—Subsec. (d)(2)(F). Pub. L. 101–610, § 185(4), inserted “and living allowances as a result of participation in a program established under the National and Community Service Act of 1990)” after “other than parents”.
Subsec. (f)(3). Pub. L. 101–610, § 185(3), added par. (3).
1988—Subsec. (i). Pub. L. 100–369added subsec. (i).
1987—Subsec. (a)(1). Pub. L. 100–50, § 14(28)(A), (B), substituted “paragraphs (2) through (4)” for “paragraphs (2) and (3)” and inserted “minus excludable income (as defined in subsection (f) of this section)” before period at end.
Subsec. (a)(2). Pub. L. 100–50, § 14(28)(C), added par. (2) and struck out former par. (2) which read as follows: “The Secretary shall promulgate special regulations to permit, in the computation of family contributions for the programs under subpart 2 of part A and parts B and D of this subchapter and part C of subchapter I of chapter 34 of title 42 for any academic year the exclusion from family income of any proceeds of a sale of farm or business assets of that family if such sale results from a voluntary or involuntary foreclosure, forfeiture, liquidation, or bankruptcy.”
Subsec. (a)(4). Pub. L. 100–50, § 14(28)(D), added par. (4).
Subsecs. (b), (c). Pub. L. 100–50, § 14(28)(E), substituted subsec. (b) consisting of pars. (1) to (14) for former subsec. (b) consisting of pars. (1) to (19), and substituted subsec. (c) consisting of pars. (1) to (14) for former subsec. (c) consisting of pars. (1) to (16).
Subsec. (d)(2)(F). Pub. L. 100–50, § 14(28)(F), substituted “annual total resources (including all sources of resources other than parents)” for “an annual total income”.
Subsecs. (f) to (h). Pub. L. 100–50, § 14(28)(G), added subsecs. (f) to (h).
Pub. L. 110–315, title IV, § 473(f),Aug. 14, 2008, 122 Stat. 3271, as amended by Pub. L. 111–39, title IV, § 406(c),July 1, 2009, 123 Stat. 1950, provided that: “The amendments made by this section [amending this section] shall take effect on July 1, 2010, except that the amendments made in subsection (e) [amending this section] shall take effect on July 1, 2009.”
Pub. L. 110–153, § 1(b),Dec. 21, 2007, 121 Stat. 1824, provided that: “This section [amending this section] and the amendment made by this section shall take effect on July 1, 2009.”
Pub. L. 110–84, title VI, § 604(b),Sept. 27, 2007, 121 Stat. 808, provided that: “The amendments made by this section [amending this section] shall be effective on July 1, 2009.”
(f) [title VIII, § 405(d)(15)(B)] of Pub. L. 105–277effective Oct. 21, 1998, and amendment by section 101
(f) [title VIII, § 405(f)(12)(B)] of Pub. L. 105–277effective July 1, 2000, see section 101
Section 406(b)(5), formerly section 406(b)(4), ofPub. L. 99–498, renumbered Pub. L. 100–50, § 22(e)(2),June 3, 1987, 101 Stat. 361, provided that: “The definition of independent student contained in section 480(d) of the Act [20 U.S.C. 1087vv
(d)] as amended by subsection (a) of this section shall apply with respect to the determination of such need for periods of enrollment beginning on or after January 1, 1987, in the case of programs operated under part B of title IV of the Act [part B of this subchapter], or for periods of enrollment beginning on or after July 1, 1987, in the case of programs operated under subpart 2 of part A and parts C and E of such title [subpart 2 of part A of this subchapter and part C of subchapter I of chapter 34 of Title 42, The Public Health and Welfare, and part D of this subchapter].”