A bill to amend section 411F(2) of the Higher Education Act of 1965 to exclude as an asset the net value of the family's principal place of residence and a family farm on which the family resides.

Amends the Higher Education Act of 1965 to remove from the computation of the expected family contribution in the determination of the need for assistance under the Pell Grant and other student assistance programs the following assets: (1) the family's principal place of residence; or (2) a family farm on which the family resides.