,i  #aai? ,,congress  #b;d ,session  ,h4
 ,r4 #gbcb  ,,9 ,,! ,,h\se ,,(          
,,repres5tatives  ,janu>y #bb1 #bjbf,ms4
 ,/ev5s introduc$ ! foll[+ bill2 :i* 0  
ref]r$ to ! ,committee on ,education &  
,work=ce  ,a ,,bill  ,to am5d ! ,high]  
,education ,act ( #aife to provide a    
/ud5t loan all[ance calculation =       
purposes ( det]m9+ ! /ud5t aid index4   
#a4 ,%ort title ,?is ,act may be cit$ z 
! ,alleviat+ ,int]g5]ational ,debt ,act 
or ! ,,aid ,act4  #b4 ,/ud5t loan       
all[ance calculation = aw>d ye>         
#bjbg-bjbh & ea* succe$+ aw>d ye>  7a7  
,9 g5]al ,section #dge7;c7 ( ! ,high]   
,education ,act ( #aife 7#bj ,u4,s4,c4  
#ajhgoo7c771 z am5d$ by title ,,vii (   
division ,,ff ( ! ,,fafsa               
,simplification ,act 7,public ,law      
#aaf-bfj71 is fur!r am5d$-- 7#a7 9      
p>agraph 7#a7-- 7,a7 by /rik+ & at ! end
 ( subp>agraph 7,c72  7,b7 by /rik+ !   
p]iod at ! end ( subp>agraph 7,d7 &     
ins]t+ 2 &2 &  7,c7 by add+ at ! end !  
foll[+3  7,e7 beg9n+ ) aw>d ye>         

#bjbg-bjbh1 a /ud5t loan all[ance1      
det]m9$ 9 accordance ) p>agraph 7#e74  2
 &  7#b7 by add+ at ! end ! foll[+3     
7#e7 ,/ud5t loan all[ance  7,a7 ,9 g5]al
 ,! /ud5t loan all[ance is equal to !   
less] ( #d1jjj or #ae p]c5t ( ! s+le    
p>5t's out/&+ /ud5t loan debt or m>ri$  
p>5ts' comb9$ out/&+ /ud5t loan debt 7z 
adju/$ "u section #dgh7;i774  7,b7      
,exceptions ,a s+le p>5t ) an adju/$    
gross income ( m ?an #bjj1jjj 7z adju/$ 
"u section #dgh7;i771 or m>ri$ p>5ts ) a
 comb9$ adju/$ gross income ( m ?an     
#djj1jjj 7z s adju/$71 may n receive a  
/ud5t loan all[ance "u ?is p>agraph4    
7,c7 ,def9itions ,9 ?is p>agraph3 7i7   
,f$]al /ud5t loan ,! t]m ,f$]al /ud5t   
loan means any loan made1 insur$1 or    
gu>ante$ "u ?is title4  7ii7 ,out/&+    
/ud5t loan debt ,! t]m out/&+ /ud5t loan
 debt1 us$ ) respect to a p>5t1 means ! 
total am\nt ( pr9cipal1 int]e/1 & fees  
ow$ by su* p>5t1 z ( ! date (           
det]m9ation ( ! all[ance "u ?is         
p>agraph1 on ,f$]al /ud5t loans4  4  7b7

 ,adju/m5t ,section #dgh ( ! ,high]     
,education ,act ( #aife 7#bj ,u4,s4,c4  
#ajhgrr71 z am5d$ by title ,,vii (      
division ,,ff ( ! ,,fafsa               
,simplification ,act 7,public ,law      
#aaf-bfj71 is fur!r am5d$ by add+ at !  
end ! foll[+3  7i7 ,/ud5t loan exp5se   
all[ance ,= aw>d ye> #bjbh-bjbi & ea*   
succe$+ aw>d ye>1 ! ,secret>y %all      
publi% 9 ! ,f$]al ,regi/] a revis$ table
 ( /ud5t loan all[ances = ! purpose (   
section #dge7;c77#e74 ,su* revis$ table 
%all be develop$ by increas+ ! doll>    
am\nts specifi$ 9 subp>agraphs 7,a7 &   
7,b7 ( section #dge7;c77#e7 by a        
p]c5tage equal to ! p]c5tage increase 9 
! ,consum] ,price ,index1 z def9$ 9     
subsection 7f71 betwe5 ,april #bjbb & ! 
,april 9 ! ye> prior to ! beg9n+ ( !    
aw>d ye> & r\nd+ ! result to ! ne>e/    
#aj4  4  #c4 ,report to ,congress  7a7  
,9 g5]al ,n lat] ?an ,july #a1 #bjbh1 & 
on an annual basis !reaft]1 ! ,secret>y 
( ,education %all prep>e & submit to    
,congress a report on ! impacts ( !     

am5dm5ts made by ?is ,act1 :i* %all     
include ! foll[+ in=mation ) respect to 
! mo/ rec5t aw>d ye> = :i* in=mation is 
available3 7#a7 ,! numb] & p]c5tage (   
dep5d5t /ud5ts ^: /ud5t aid index       
computations "u subsection 7a7 ( section
 #dge ( ! ,high] ,education ,act ( #aife
 7#bj ,u4,s4,c4 #ajhgoo7 include !      
subtraction "u subsection 7c7 ( su*     
section #dge ( a /ud5t loan all[ance    
det]m9$ "u p>agraph 7#e7 ( su*          
subsection 7c71 z add$ by section #b1 f 
! p>5ts' total income1 disaggregat$--   
7,a7 by /ud5ts :o are eligible = a      
,f$]al ,pell ,grant "u section #dja ( ! 
,high] ,education ,act ( #aife 7#bj     
,u4,s4,c4 #ajgj;a7 = su* aw>d ye>2 &    
7,b7 by /ud5ts :o are n eligible = su* a
 ,f$]al ,pell ,grant4  7#b7 ,! av]age   
am\nt ( ! /ud5t loan all[ance describ$ 9
 p>agraph 7#a74