Middle Income Student Assistance Act

[AI summary unavailable — showing source text] Middle Income Student Assistance Act - Amends the Higher Education Act of 1965 to establish a $250 minimum basic educational opportunity grant for college students whose adjusted family income does not exceed $25,000. Sets forth new guidelines for determining the assets of independent students for purposes of eligibility for basic educational opportunity grants. Revises certain provisions regarding Federal payments to reduce student loan interest costs under such Act including raising the maximum allowable adjusted family income requirement to $40,000.…