,i  #aaith ,,congress  #b;d ,session    
,h4 ,r4 #gbcb  ,,in ,,the ,,house ,,of  
,,representatives  ,january #bb1        
#bjbf,ms4 ,stevens introduced the       
following bill2 which was referred to   
the ,committee on ,education and        
,workforce  ,a ,,bill  ,to amend the    
,higher ,education ,act of #aife to     
provide a student loan allowance        
calculation for purposes of determining 
the student aid index4  #a4 ,short title
 ,this ,act may be cited as the         
,alleviating ,intergenerational ,debt   
,act or the ,,aid ,act4  #b4 ,student   
loan allowance calculation for award    
year #bjbg-bjbh and each succeeding     
award year  7a7 ,in general ,section    
#dge7;c7 of the ,higher ,education ,act 
of #aife 7#bj ,u4,s4,c4 #ajhgoo7c771 as 
amended by title ,,vii of division ,,ff 
of the ,,fafsa ,simplification ,act     
7,public ,law #aaf-bfj71 is further     
amended-- 7#a7 in paragraph 7#a7-- 7,a7 
by striking and at the end of           
subparagraph 7,c72  7,b7 by striking the

 period at the end of subparagraph 7,d7 
and inserting 2 and2 and  7,c7 by adding
 at the end the following3  7,e7        
beginning with award year #bjbg-bjbh1 a 
student loan allowance1 determined in   
accordance with paragraph 7#e74  2 and  
7#b7 by adding at the end the following3
  7#e7 ,student loan allowance  7,a7 ,in
 general ,the student loan allowance is 
equal to the lesser of #d1jjj or #ae    
percent of the single parent's          
outstanding student loan debt or married
 parents' combined outstanding student  
loan debt 7as adjusted under section    
#dgh7;i774  7,b7 ,exceptions ,a single  
parent with an adjusted gross income of 
more than #bjj1jjj 7as adjusted under   
section #dgh7;i771 or married parents   
with a combined adjusted gross income of
 more than #djj1jjj 7as so adjusted71   
may not receive a student loan allowance
 under this paragraph4  7,c7            
,definitions ,in this paragraph3 7i7    
,federal student loan ,the term ,federal
 student loan means any loan made1      

insured1 or guaranteed under this title4
  7ii7 ,outstanding student loan debt   
,the term outstanding student loan debt1
 used with respect to a parent1 means   
the total amount of principal1 interest1
 and fees owed by such parent1 as of the
 date of determination of the allowance 
under this paragraph1 on ,federal       
student loans4  4  7b7 ,adjustment      
,section #dgh of the ,higher ,education 
,act of #aife 7#bj ,u4,s4,c4 #ajhgrr71  
as amended by title ,,vii of division   
,,ff of the ,,fafsa ,simplification ,act
 7,public ,law #aaf-bfj71 is further    
amended by adding at the end the        
following3  7i7 ,student loan expense   
allowance ,for award year #bjbh-bjbi and
 each succeeding award year1 the        
,secretary shall publish in the ,federal
 ,register a revised table of student   
loan allowances for the purpose of      
section #dge7;c77#e74 ,such revised     
table shall be developed by increasing  
the dollar amounts specified in         
subparagraphs 7,a7 and 7,b7 of section  

#dge7;c77#e7 by a percentage equal to   
the percentage increase in the ,consumer
 ,price ,index1 as defined in subsection
 7f71 between ,april #bjbb and the      
,april in the year prior to the         
beginning of the award year and rounding
 the result to the nearest #aj4  4  #c4 
,report to ,congress  7a7 ,in general   
,not later than ,july #a1 #bjbh1 and on 
an annual basis thereafter1 the         
,secretary of ,education shall prepare  
and submit to ,congress a report on the 
impacts of the amendments made by this  
,act1 which shall include the following 
information with respect to the most    
recent award year for which information 
is available3 7#a7 ,the number and      
percentage of dependent students whose  
student aid index computations under    
subsection 7a7 of section #dge of the   
,higher ,education ,act of #aife 7#bj   
,u4,s4,c4 #ajhgoo7 include the          
subtraction under subsection 7c7 of such
 section #dge of a student loan         
allowance determined under paragraph    

7#e7 of such subsection 7c71 as added by
 section #b1 from the parents' total    
income1 disaggregated-- 7,a7 by students
 who are eligible for a ,federal ,pell  
,grant under section #dja of the ,higher
 ,education ,act of #aife 7#bj ,u4,s4,c4
 #ajgj;a7 for such award year2 and  7,b7
 by students who are not eligible for   
such a ,federal ,pell ,grant4  7#b7 ,the
 average amount of the student loan     
allowance described in paragraph 7#a74