; multiplied by (B) 50 percent, except that the amount determined under this paragraph shall not be less than -$1,500 for award year 2024–2025 and not less than zero for award year 2025–2026 and each award year thereafter. . (b) Appropriation Section 401(b)(7)(A) of the Higher Education Act of 1965 ( 20 U.S.C. 1070a(b)(7)(A) )), as amended by the FAFSA Simplification Act (title VII of division FF of Public Law 116–260 ), is further amended to read as follows: (A) In general In addition to any funds appropriated under paragraph (6) and any funds made available for this section under any appropriations Act, there are authorized to be appropriated, and there are appropriated (out of any money in the Treasury not otherwise appropriated) to carry out this section— (i) $1,170,000,000 for fiscal year 2024; (ii) $3,170,000,000 for fiscal year 2025; (iii) $2,170,000,000 for fiscal year 2026