; or (bb) with married parents, the student's parents’ adjusted gross income for the taxable year that is 1 year prior to the taxable year that ends immediately prior to the beginning of the award year is equal to or less than $250,000; and (II) is a— (aa) single independent student, the student's adjusted gross income for the taxable year that is 1 year prior to the taxable year that ends immediately prior to the beginning of the award year is equal to or less than $125,000; or (bb) married independent student, the student's adjusted gross income for the taxable year that is 1 year prior to the taxable year that ends immediately prior to the beginning of the award year is equal to or less than $250,000; and (ii) for each award year after the first award year of the program under this subpart, if the student— (I) is a dependent student, the student’s parents’ adjusted gross income for the taxable year that is 1 year prior to the taxable year that ends immediately prior to the beginning of the award year is equal to or less than the applicable amount