A bill to amend title IV of the Higher Education Act of 1965 to simplify the needs analysis.

[AI summary unavailable — showing source text] Amends title IV (Student Assistance) of the Higher Education Act of 1965 (HEA) to revise the needs analysis. Revises the eligibility formula for Pell Grants (or basic educational opportunity grants) to refer to the Federal eligibility number under revised family contribution requirements. Repeals separate provisions, with respect to Pell Grants, for family contribution schedules and eligibility determinations (but specifies how general needs analysis provisions are to be applied to Pell Grants). Applies general student assistance needs analysis (need equals the cost of attendance minus the expected family contribution) to the program of grants to States for State student incentives (SSI grants). Applies general student assistance needs analysis cost of attendance requirements to Pell Grants. Includes as a cost of attendance an allowance based on expenses reasonably incurred for room and board costs for all types of student residences. Provides for institutional determination of certain types of costs incurred specifically when correspondence students fulfill a required period of residential training. Revises general student assistance needs analysis provisions for family contributi…