; (2) for a single independent student or a married independent student without dependents (other than a spouse) shall be determined in accordance with section 476; and (3) for an independent student with dependents other than a spouse shall be determined in accordance with section 477. . (d) Student aid index for dependent students Section 475 of the Higher Education Act of 1965 ( 20 U.S.C. 1087oo ) is amended to read as follows: 475. Student aid index for dependent students (a) Computation of student aid index (1) In general For each dependent student, the student aid index is equal to (except as provided in paragraph (2)) the sum of— (A) the assessment of the parents' adjusted available income (determined in accordance with subsection (b)); (B) the assessment of the student’s available income (determined in accordance with subsection (g)); and (C) the student’s available assets (determined in accordance with subsection (h)). (2) Exception If the sum of paragraphs (1), (2), and (3) with respect to a dependent student is less than −$1,500, the student aid index for the dependent student shall be −$1,500. (b) Assessment of parents’ adjusted available income The assessment of parents' adjusted available income is equal to the amount determined by— (1) computing adjusted available income by adding— (A) the parents' available income (determined in accordance with subsection (c)); and (B) the parents' available assets (determined in accordance with subsection (d)); (2) assessing such adjusted available income in accordance with the assessment schedule set forth in subsection (e); and (3) considering such assessment resulting under paragraph (2) as the amount determined under this subsection. (c) Parents' available income (1) In general The parents' available income is determined by subtracting from total income (as defined in section 480)— (A) Federal income taxes; (B) an allowance for payroll taxes, determined in accordance with paragraph (2)