AID Act

This bill changes how federal student aid eligibility is calculated for dependent students starting with the 2027-2028 award year. When figuring the student aid index, a new student loan allowance would be subtracted from parents' total income. The allowance equals the lesser of $4,000 or 15 percent of the parents' outstanding federal student loan debt. Single parents earning more than $200,000 and married parents earning more than $400,000 could not receive the allowance, and these dollar amounts would be adjusted for inflation each year. The Secretary of Education would report to Congress every year, starting by July 1, 2028, on how many students received the allowance and its average amount.

Full text and official record on Congress.gov

Sponsors

• Haley M. Stevens Democrat sponsor
• 0 cosponsors