100 STAT. 1460 Tj'i
PUBLIC LAW 99-498—OCT. 17, 1986 "Asset Protection Allowances for Families and Students—Continued
And there are If the age of the oldest parent is— two parents
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33 34 35 36 37 38 39 40 41 42 43 44 45 46 47 48 49 50 51 52 53 54 55 56 57 58 59 60 61 62 63 64 65 or more
^. .y...
one parent
15,600 17,500 19,500 21,400 23,400 25,300 27,300 29,200 30,000 30,800 31,600 32,500 33,300 34,200 35,200 36,100 37,300 38,300 39,600 40,900 42,000 43,400 44,800 46,300 48,100 49,700 51,600 53,300 55,300 7 57,400 ^ ' ' " •" 59,600 61,800 64,100
12,100 13,600 15,100 16,600 18,200 19,700 21,200 22,700 23,200 23,800 24,200 24,800 25,400 26,100 26,700 27,200 27,900 28,800 29,500 30,300 31,000 32,000 32,800 33,800 34,600 35,700 36,800 37,900 39,000 40,200 41,400 42,600 44,100
"(4) ASSET CONVERSION RATE.—The asset conversion rate is ^' determined as follows: .,< "(A) if the parental net worth (determined in accordance with paragraph (2)) minus the asset protection allowance - — (determined in accordance with paragraph (3)) is equal to or greater than zero, the conversion rate is 12 percent; '^ • "(B) if such parental net worth minus such asset protection allowance is less than zero and the parents' contribution from available income (determined in accordance with subsection (c)) is greater than $15,000, the conversion rate is zero percent; "(C) if such parental net worth minus such asset protecr. r. tion allowance is less than zero and such parents' available income is equal to or greater than zero but less than j>,r $15,000, the conversion rate (rounded to 3 decimal places) is equal to 6 percent multiplied by a fraction—
"(i) the numerator of which is equal to $15,000 minus
such parents'available income; and "(ii) the denominator of which is $15,000; and "(D) if such parental net worth minus such asset protection allowance is less than zero and such parents' available income is equal to or less than zero, the conversion rate is 6 percent.
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