SUPPORT FOR WORKING STUDENTS.

SEC. 601. SUPPORT FOR WORKING STUDENTS.(a) Dependent Students.—Subparagraph (D) of section 475(g)(2) (20 U.S.C. 1087oo(g)(2)(D)) is amended to read as follows:“(D) an income protection allowance of the following amount (or a successor amount prescribed by the Secretary under section 478)—“(i) for academic year 2009–2010, $3,750;“(ii) for academic year 2010–2011, $4,500;“(iii) for academic year 2011–2012, $5,250; and“(iv) for academic year 2012–2013, $6,000;”.(b) Independent Students Without Dependents Other Than a Spouse.—Clause (iv) of section 476(b)(1)(A) (20 U.S.C. 1087pp(b)(1)(A)) is amended to read as follows:“(iv) an income protection allowance of the following amount (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)—“(aa) for academic year 2009–2010, $7,000;“(bb) for academic year 2010–2011, $7,780;“(cc) for academic year 2011–2012, $8,550; and“(dd) for academic year 2012–2013, $9,330; and121 STAT. 802“(II) for married students where 1 is enrolled pursuant to subsection (a)(2)—“(aa) for academic year 2009–2010, $11,220;“(bb) for academic year 2010–2011, $12,460;“(cc) for academic year 2011–2012, $13,710; and“(dd) for academic year 2012–2013, $14,960;”.(c) Independent Students With Dependents Other Than a Spouse.—Paragraph (4) of section 477(b) (20 U.S.C. 1087qq(b)) is amended to read as follows:“(4) Income protection allowance.—The income protection allowance is determined by the tables described in subparagraphs (A) through (D) (or a successor table prescribed by the Secretary under section 478).“(A) Academic year 2009–2010.—For academic year 2009–2010, the income protection allowance is determined by the following table:“Income Protection Allowance Family SizeNumber in College (including student)12345For each additional subtract: 2$17,720$14,690 322,06019,050$16,020 427,25024,22021,210$18,170 532,15029,12026,10023,070$20,060 637,60034,57031,57028,52025,520$3,020 For each additional add:4,2404,2404,2404,2404,240 “(B) Academic year 2010–2011.—For academic year 2010–2011, the income protection allowance is determined by the following table:“Income Protection Allowance Family SizeNumber in College (including student)12345For each additional subtract: 2$19,690$16,330 324,51021,160$17,800 430,28026,91023,560$20,190 535,73032,35029,00025,640$22,290 641,78038,41035,08031,69028,350$3,350 For each additional add:4,7104,7104,7104,7104,710 121 STAT. 803 “(C) Academic year 2011–2012.—For academic year 2011–2012, the income protection allowance is determined by the following table:“Income Protection Allowance Family SizeNumber in College (including student)12345For each additional subtract: 2$21,660$17,960 326,96023,280$19,580 433,30029,60025,920$22,210 539,30035,59031,90028,200$24,520 645,95042,25038,58034,86031,190$3,690 For each additional add:5,1805,1805,1805,1805,180 “(D) Academic year 2012–2013.—For academic year 2012–2013, the income protection allowance is determined by the following table:“Income Protection Allowance Family SizeNumber in College (including student)12345For each additional subtract: 2$23,630$19,590 329,42025,400$21,360 436,33032,30028,280$24,230 542,87038,82034,80030,770$26,750 650,13046,10042,09038,03034,020$4,020 For each additional add:5,6605,6605,6605,6605,660 ”. (d) Updated Tables and Amounts.—Section 478(b) (20 U.S.C. 1087rr(b)) is amended—(1) by striking paragraph (1) and inserting the following:“(1) Revised tables.—“(A) In general.—For each academic year after academic year 2008–2009, 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.—“(i) Academic years 2009–2010 through 2012–2013.—For each of the academic years 2009–2010 through 2012–2013, the Secretary shall not develop a revised table of income protection allowances under section 477(b)(4) and the table specified for such academic year under subparagraphs (A) through (D) of such section shall apply.“(ii) Other academic years.—For each academic year after academic year 2012–2013, the Secretary 121 STAT. 804 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)(D) by a percentage equal to the estimated percentage increase in the Consumer Price Index (as determined by the Secretary) between December 2011 and the December next preceding the beginning of such academic year, and rounding the result to the nearest $10.“(C) Table for parents.—For each academic year after academic year 2008–2009, the Secretary shall develop the revised table of income protection allowances under section 475(c)(4) by increasing each of the dollar amounts contained in the table by a percentage equal to the estimated percentage increase in the Consumer Price Index (as determined by the Secretary) between December 1992 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” and all that follows through the period at the end and inserting “shall be developed for each academic year after academic year 2012–2013, by increasing each of the dollar amounts contained in such section for academic year 2012–2013 by a percentage equal to the estimated percentage increase in the Consumer Price Index (as determined by the Secretary) between December 2011 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, 2009.