Part-time Student Assistance Act

Part-time Student Assistance Act - Amends the Higher Education Act of 1965 to provide access and assistance to increase college attendance and completion by part-time students.

Increases the earnings exempt from student aid need determinations for academic year 2007-2008 by exempting earnings of up to: (1) $9,000 for dependent students; and (2) $12,000 for independent students with no dependents (other than spouse). Establishes a revised table that increases the amount of earnings for independent students with dependents (other than spouse) that are exempt. Provides for inflationary adjustments to such earnings exemptions in subsequent academic years. Exempts earned income credits from the calculation of income.

Revises and expands a program (child care access means parents in school) which provides grants to institutions of higher education for child care assistance for low-income students.

Directs the Secretary of Education to establish a year-round Pell grant pilot program.

Authorizes a demonstration program to create a holistic approach to addressing the needs of part-time students. Allows such program to: (1) be at up to 150 associate's and bachelor's degree-granting institutions; and (2) include grants, leveraging funds from nonfederal sources, comprehensive child care, and better tailored remedial course programs.