- accredited
means currently certified by a nationally recognized accrediting agency or making satisfactory progress toward achieving accreditation.
- active duty
has the meaning given such term in section 101(d)(1) of title 10, except that such term does not include active duty for training or attendance at a service school.
- adjunct content specialist
means an individual who—
- adjusted gross income
means—
- Advisory Board
means the Advisory Board established by section 1066f of this title.
- affected individual
means an individual who—
- affected institution
means an institution of higher education that—
- affiliate
means a person that controls, is controlled by, or is under common control with another person.
- affiliated with an eligible lender
means an individual who is, or within 5 years of election to the Board has been, an employee, officer, director, or similar official of—
- agent
has the meaning given the term in section 1019 of this title.
- Alaska Native
has the meaning given the term in section 7546 of this title;
- Alaska Native-serving institution
means an institution of higher education that—
- allied health professional
means an allied health professional as defined in section 295p(5) of title 42 who—
- applicable amount
means 15 percent of the result obtained by calculating, on at least an annual basis, the amount by which—
- applicable monthly payment
means, when used with respect to a borrower, the amount equal to—
- area studies
means a program of comprehensive study of the aspects of a society or societies, including study of its history, culture, economy, politics, international relations and languages;
- articulation agreement
means an agreement between institutions of higher education that specifies the acceptability of courses in transfer toward meeting specific degree requirements.
- arts and sciences
means—
- Asian American
has the meaning given the term “Asian” in the Office of Management and Budget’s Standards for Maintaining, Collecting, and Presenting Federal Data on Race and Ethnicity as published on October 30, 1997 (62 Fed.
- Asian American and Native American Pacific Islander-serving institution
means an institution of higher education that—
- assets
means the amount in checking and savings accounts, time deposits, money market funds, investments, trusts, stocks, bonds, derivatives, securities, mutual funds, tax shelters, qualified education benefits (except as provided in paragraph (3)), the annual amount of child support received and the net value of real estate, vacation homes, income producing property, and business and farm assets, determined in accordance with section 1087rr(c) of this title.
- assistance
means the provision of technical support, training, materials, technical assistance, and financial assistance.
- associated person
means any person, other than a natural person, directly or indirectly controlling, controlled by, or under common control with the Association.
- Association
means the Student Loan Marketing Association.
- athletically related student aid
means any scholarship, grant, or other form of financial assistance the terms of which require the recipient to participate in a program of intercollegiate athletics at an institution of higher education in order to be eligible to receive such assistance.
- audiologist
means an individual who—
- authorizing committees
means the Committee on Health, Education, Labor, and Pensions of the Senate and the Committee on Education and Labor of the House of Representatives.
- average cost of attendance
means the average of the attendance costs for undergraduate students and for graduate and professional students, which shall include (i) tuition and fees determined in accordance with subparagraph (B), (ii) standard living expenses determined in accordance with subparagraph (C), and (iii) books and supplies determined in accordance with subparagraph (D).
- borrower
means an individual who is a new borrower on the date such individual applies for a loan under this part for which the first disbursement is made on or after July 1, 1993.
- bundle
means one or more college textbooks or other supplemental materials that may be packaged together to be sold as course materials for one price.
- business assets
means property that is used in the operation of a trade or business, including real estate, inventories, buildings, machinery, and other equipment, patents, franchise rights, and copyrights.
- campus
means—
- capital project
means, subject to section 1066c(b) of this title, the repair, renovation, or, in exceptional circumstances, the construction or acquisition, of—
- capital ratio
means the ratio of total stockholders’ equity, as shown on the Association’s most recent quarterly consolidated balance sheet prepared in the ordinary course of its business, to the sum of— For purposes of this subparagraph, the calculation of the credit equivalent amount of the items set forth in clause (ii) of this subparagraph, the netting of such items and eliminations for the purpose of avoidance of double-counting of such items shall be made in accordance with the measures for computing credit conversion factors for off-balance sheet items for capital maintenance purposes established for commercial banks from time to time by the Federal Reserve Board, but without regard to any risk weighting provisions in such measures.
- children from low-income families
means children described in section 6333(c)(1)(A) of this title.
- children with disabilities
has the meaning set forth in section 1401 of this title.
- civil legal assistance attorney
means an attorney who—
- clearinghouse
means a public or private entity that processes or facilitates the processing of nonstandard data elements into data elements conforming to standards adopted under this section.
- cohort default rate
means, for any award year in which 30 or more current and former students at the institution enter repayment on loans under this part (received for attendance at the institution), the percentage of those current and former students who enter repayment on such loans (received for attendance at that institution) in that award year who default before the end of the following award year.
- College Navigator website
means the College Navigator website operated by the Department and includes any successor website.
- college textbook
means a textbook or a set of textbooks, used for, or in conjunction with, a course in postsecondary education at an institution of higher education.
- combination of institutions of higher education
means a group of institutions of higher education that have entered into a cooperative arrangement for the purpose of carrying out a common objective, or a public or private nonprofit agency, organization, or institution designated or created by a group of institutions of higher education for the purpose of carrying out a common objective on the group’s behalf.
- commercial product
has the meaning given the term in section 103 of title 41.
- commercial service
has the meaning given the term in section 103a of title 41.
- community college
has the meaning given the term “junior or community college” in section 1058(f) of this title.
- community service
means services, including direct service, planning, and applied research which are identified by an institution of higher education, through formal or informal consultation with local nonprofit, governmental, and community-based organizations, and which—
- community services
means services which are identified by an institution of higher education, through formal or informal consultation with local nonprofit, governmental, and community-based organizations, as designed to improve the quality of life for community residents, particularly low-income individuals, or to solve particular problems related to their needs, including—
- competitive procedures
has the meaning given the term in section 152 of title 41.
- comprehensive foreign language and area or international studies center
means an administrative unit of a university that contributes significantly to the national interest in advanced research and scholarship, employs a critical mass of scholars in diverse disciplines related to a geographic concentration, offers intensive language training in languages of its area specialization, maintains important library collections related to the area, and makes training available in language and area studies to a graduate, postgraduate, and undergraduate clientele;
- comprehensive student work-learning-service program
means a student work-learning-service program that—
- comprehensive transition and postsecondary program for students with intellectual disabilities
means a degree, certificate, or nondegree program that meets each of the following:
- Consumer Price Index
means the Consumer Price Index for All Urban Consumers published by the Department of Labor.
- consumer reporting agency
has the meaning given the term “consumer reporting agency that compiles and maintains files on consumers on a nationwide basis” in Section 1 1681a(p) of title 15.
- contract
means any agreement for the acquisition by purchase, lease, or barter of property or services by the foreign source, for the direct benefit or use of either of the parties;
- cooperative education
means the provision of alternating or parallel periods of academic study and public or private employment to give students work experiences related to their academic or occupational objectives and an opportunity to earn the funds necessary for continuing and completing their education.
- cooperative grant
means a grant that assists groups of nonprofit accredited colleges and universities to work together to conduct a science improvement program.
- core academic subjects
means English, reading or language arts, mathematics, science, foreign languages, civics and government, economics, arts, history, and geography.
- cost of attendance
means—
- course schedule
means a listing of the courses or classes offered by an institution of higher education for an academic period, as defined by the institution.
- covered institution
means any institution of higher education, as such term is defined in section 1002 of this title, that receives any Federal funding or assistance.
- covered period
means the period of the 3 years immediately preceding the date of a determination made under paragraph (2).
- critical foreign language
means each of the languages contained in the list of critical languages designated by the Secretary in the Federal Register on August 2, 1985 (50 Fed.
- current award year
means the award year during which the participating institution indicates the institution’s intention to cease participation.
- current repayment status
means that the borrower is not delinquent in the payment of any principal or interest on the loan.
- default
includes only such defaults as have existed for (1) 270 days in the case of a loan which is repayable in monthly installments, or (2) 330 days in the case of a loan which is repayable in less frequent installments.
- default aversion activities
means activities of a guaranty agency that are directly related to providing collection assistance to the lender on a delinquent loan, prior to the loan’s being legally in a default status, including due diligence activities required pursuant to regulations of the Secretary.
- default collection activities
means activities of a guaranty agency that are directly related to the collection of the loan on which a default claim has been paid to the participating lender, including the due diligence activities required pursuant to regulations of the Secretary.
- default reduction activities
means activities to reduce student loan defaults that improve, strengthen, and expand default prevention activities, such as—
- Department
means the Department of Education.
- dependent
means an individual who is a dependent under section 152 of title 26.
- dependent of the parent
means the student who is deemed to be a dependent student when applying for aid under this subchapter, and any other person who lives with and receives more than one-half of their support from the parent (or parents) and will continue to receive more than half of their support from the parent (or parents) during the award year.
- dependent of the student
means the student’s dependent children and other persons (except the student’s spouse) who live with and receive more than one-half of their support from the student and will continue to receive more than half of their support from the student during the award year.
- design projects
means projects that assist minority institutions that do not have their own appropriate resources or personnel to plan and develop long-range science improvement programs.
- designated bonding authority
means the private, for-profit corporation selected by the Secretary pursuant to section 1066d(1) of this title for the purpose of issuing taxable capital project construction bonds in furtherance of the purposes of this part.
- diploma mill
means an entity that—
- disability
has the same meaning given that term under section 12102(2) of title 42.
- disaster-affected student
means a student enrolled at an eligible institution who—
- disposable pay
means that part of the compensation of any individual from an employer remaining after the deduction of any amounts required by law to be withheld.
- dissolution date
means September 30, 2008, or such earlier date as the Secretary of Education permits the transfer of remaining obligations in accordance with subsection (d).
- distance education
means education that uses one or more of the technologies described in subparagraph (B)—
- early childhood education program
means—
- early childhood educator
means an individual with primary responsibility for the education of children in an early childhood education program.
- early intervention services
has the meaning given the term in section 1432 of this title.
- education loan
has the meaning given the term in section 1019 of this title.
- educational and general expenditures
means the total amount expended by an institution for instruction, research, public service, academic support (including library expenditures), student services, institutional support, scholarships and fellowships, operation and maintenance expenditures for the physical plant, and any mandatory transfers that the institution is required to pay by law.
- educational programs abroad
means programs of study, internships, or service learning outside the United States which are part of a foreign language or other international curriculum at the undergraduate or graduate education levels;
- educational service agency
has the meaning given the term in section 7801 of this title.
- elementary school
has the same meaning given that term under section 7801 of this title.
- eligible applicant
means an applicant who meets at least one of the following criteria:
- eligible borrower
means a borrower who—
- eligible career pathway program
means a program that combines rigorous and high-quality education, training, and other services that—
- eligible consortium
means a partnership of 2 or more entities that have agreed to work together to carry out this section that—
- eligible early childhood education program
means—
- eligible entity
means—
- eligible Federal Direct Loan
means a Federal Direct Stafford Loan, Federal Direct PLUS Loan, or Federal Direct Unsubsidized Stafford Loan, or a Federal Direct Consolidation Loan.
- eligible Federal PLUS Loan
means a loan described in section 1078–2 of this title made to a parent of a dependent student who is a new borrower on or after July 1, 2009.
- eligible individual
means an individual who—
- eligible institution
means any such institution described in section 1002 of this title.
- eligible lender
means—
- eligible loan
means a loan—
- eligible military borrower
means an individual who—
- eligible not-for-profit holder
means an eligible lender under subsection (d) (except for an eligible lender described in subsection (d)(1)(E)) that requests a special allowance payment under section 1087–1(b)(2)(I)(vi)(II) of this title or a payment under section 1141 of this title and that is—
- eligible partnership
means an entity that—
- eligible preschool program
means a program that—
- eligible program
means a program of at least—
- eligible recipient
means a consortium consisting of 1 or more of the following entities:
- eligible student
means a student who—
- eligible student loans
means loans—
- emergency
has the meaning given such term in section 5122(1) of title 42.
- endowment fund
means a fund that—
- endowment fund corpus
means an amount equal to the grant or grants awarded under this section plus an amount equal to such grant or grants provided by the institution.
- endowment fund income
means an amount equal to the total value of the endowment fund established under this section minus the endowment fund corpus.
- enrollment and repayment status management
means activities of a guaranty agency that are directly related to ascertaining the student’s enrollment status, including prompt notification to the lender of such status, an audit of the note or written agreement to determine if the provisions of that note or agreement are consistent with the records of the guaranty agency as to the principal amount of the loan guaranteed, and an examination of the note or agreement to assure that the repayment provisions are consistent with the provisions of this part.
- enrollment of needy students
means the enrollment at an institution of higher education with respect to which not less than 50 percent of the undergraduate students enrolled in an academic program leading to a degree—
- essential components of reading instruction
has the meaning given the term in section 6368 of this title as such section was in effect on the day before December 10, 2015.
- excepted consolidation loan
means—
- excepted loan
means a loan with an outstanding balance that is—
- excepted PLUS loan
means a loan under section 1078–2 of this title, or a Federal Direct PLUS Loan, that is made, insured, or guaranteed on behalf of a dependent student.
- excess consolidation proceeds
means, with respect to any guaranty agency for any Federal fiscal year beginning on or after October 1, 2009, the proceeds of consolidation of defaulted loans under this subchapter that exceed 45 percent of the agency’s total collections on defaulted loans in such Federal fiscal year.
- excludable income
means—
- exemplary teacher
has the meaning given the term in section 7801 of this title as such section was in effect on the day before December 10, 2015.
- exempt claims
means claims with respect to loans for which it is determined that the borrower (or the student on whose behalf a parent has borrowed), without the lender’s or the institution’s knowledge at the time the loan was made, provided false or erroneous information or took actions that caused the borrower or the student to be ineligible for all or a portion of the loan or for interest benefits thereon.
- export education
means educating, teaching and training to provide general knowledge and specific skills pertinent to the selling of goods and services to other countries, including knowledge of market conditions, financial arrangements, laws and procedures;
- family size
has the meaning given the term in section 1087vv(k) of this title;
- Federal and State student financial assistance
means any grant, loan, work assistance, tuition assistance, scholarship, fellowship, or other form of financial aid for pursuing a postsecondary education that is—
- feeder pattern
means a secondary school and the elementary schools and middle schools that channel students into that secondary school.
- first-generation college student
has the meaning given the term in section 1070a–11(h) of this title.
- foreign source
means—
- free institution
means an institution that emerged out of Western civilization, such as democracy, constitutional government, individual rights, market economics, religious freedom and religious tolerance, and freedom of thought and inquiry.
- Freely Associated States
means the Republic of the Marshall Islands, the Federated States of Micronesia, and the Republic of Palau.
- full-time equivalent students
means the sum of the number of students enrolled full time at an institution, plus the full-time equivalent of the number of students enrolled part time (determined on the basis of the quotient of the sum of the credit hours of all part-time students divided by 12) at such institution.
- funding
means any payment under this part from the Secretary to the eligible institution or its assignee in fulfillment of the insurance obligations of the Secretary pursuant to an agreement under section 1066b of this title.
- gang-related offense
means an offense that involves the circumstances described in subparagraph (B) and that is—
- gift
means any gratuity, favor, discount, entertainment, hospitality, loan, or other item having a monetary value of more than a de minimus amount.
- gifted and talented
has the same meaning given that term under section 7801 of this title.
- Governor
means the chief executive officer of a State.
- graduate
means an individual who has attended an institution for at least three semesters and fulfilled academic requirements for undergraduate studies in not more than 5 consecutive school years.
- graduate student
means a student enrolled in a program of study that awards a graduate credential (other than a professional degree) upon completion of the program.
- grantee
means Teach For America, Inc.
- guaranty agency
means any State or nonprofit private institution or organization with which the Secretary has an agreement under section 1078(b) of this title.
- guidance counselor
means an individual who works with at-risk youth on a one-on-one basis, to establish a supportive relationship with such at-risk youth and to provide such at-risk youth with academic assistance and exposure to new experiences that enhance their ability to become responsible citizens.
- health facility
means an Indian health service center, a Native Hawaiian health center, a hospital, a federally qualified health center, a rural health clinic, a nursing home, a home health agency, a hospice program, a public health clinic, a State or local department of public health, a skilled nursing facility, or an ambulatory surgical center.
- high-need early childhood education program
means an early childhood education program serving children from low-income families that is located within the geographic area served by a high-need local educational agency.
- high-need local educational agency
has the meaning given such term in section 1021 of this title.
- high-need school
means a school that, based on the most recent data available, meets one or both of the following:
- high-risk children
means individuals under the age of 21 who are low-income or at risk of abuse or neglect, have been abused or neglected, have serious emotional, mental, or behavioral disturbances, reside in placements outside their homes, or are involved in the juvenile justice system.
- Hispanic-serving institution
has the meaning given the term in section 1101a of this title;
- historically Black college and university
has the meaning given the term “part B institution” in section 1061 of this title;
- holder
means an eligible lender who owns a loan.
- Holding Company
means the new business corporation established pursuant to this section by the Association under the laws of any State of the United States or the District of Columbia for the purposes of the reorganization and restructuring described in subsection (a).
- homeless youth
has the meaning given the term “homeless children and youths” in section 11434a of title 42.
- Indian
has the meaning given the term in section 2 of the Tribally Controlled Colleges and Universities Assistance Act of 1978 [25 U.S.C. 1801].
- Indian tribe
has the meaning given the term in section 2 of the Tribally Controlled Colleges and Universities Assistance Act of 1978 [25 U.S.C. 1801].
- induction program
means a formalized program for new teachers during not less than the teachers’ first two years of teaching that is designed to provide support for, and improve the professional performance and advance the retention in the teaching field of, beginning teachers.
- infants, toddlers, children, and youth with disabilities
means children with disabilities and infants and toddlers with disabilities as defined in sections 1401 and 1432 of this title, respectively, and the term “early intervention services” has the meaning given the term in section 1432 of this title.
- institution
means any institution, public or private, or, if a multicampus institution, any single campus of such institution, in any State, that—
- institution affected by a Gulf hurricane disaster
means an institution of higher education that—
- institution of higher education
has the meaning given such term in section 1001(a) of this title.
- institutional grant
means a grant that supports the implementation of a comprehensive science improvement plan, which may include any combination of activities for improving the preparation of minority students for careers in science.
- insurance beneficiary
means the insured or its authorized representative assigned in accordance with section 1079(d) of this title.
- integrated textbook
means a college textbook that is—
- interest
includes accredited value or any other payment constituting interest on an obligation.
- international business
means profit-oriented business relationships conducted across national boundaries and includes activities such as the buying and selling of goods, investments in industries, the licensing of processes, patents and trademarks, and the supply of services;
- internationalization of curricula
means the incorporation of international or comparative perspectives in existing courses of study or the addition of new components to the curricula to provide an international context for American business education;
- junior or community college
means an institution of higher education—
- legislative days
means only days on which either House of Congress is in session.
- limited English proficient
has the meaning given the term “English learner” in section 7801 of this title.
- line of credit
means an arrangement or agreement between the lender and the borrower whereby a loan is paid out by the lender to the borrower in annual installments, or whereby the lender agrees to make, in addition to the initial loan, additional loans in subsequent years.
- loan
means a loan made to an eligible institution under the provisions of this part and pursuant to an agreement with the Secretary.
- local educational agency
has the same meaning given that term under section 7801 of this title.
- low-income communities
means communities in which there is a high concentration of children eligible to be counted under section 6333(c) of this title.
- low-income community
means a school attendance area (as defined in section 6313(a)(2)(A) of this title)—
- low-income individual
has the meaning given such term in section 1070a–11(h) of this title.
- low-income student
means a student—
- major disaster
has the meaning given the term in section 5122(2) of title 42.
- means-tested Federal benefit program
means any of the following:
- member of a qualifying Federal service
means—
- military operation
means a contingency operation as such term is defined in section 101(a)(13) of title 10.
- minimum Federal Pell Grant
means the minimum amount of a Federal Pell Grant that shall be awarded to a student for any academic year in which that student is attending full time, which shall be equal to 10 percent of the total maximum Federal Pell Grant for such academic year.
- minority
means American Indian, Alaskan Native, Black (not of Hispanic origin), Hispanic (including persons of Mexican, Puerto Rican, Cuban, and Central or South American origin), Pacific Islander or other ethnic group underrepresented in science and engineering.
- minority institution
has the meaning given the term in section 1067k of this title.
- modeling and simulation
means a field of study related to the application of computer science and mathematics to develop a level of understanding of the interaction of the parts of a system and of a system as a whole.
- mortgage loan
means an extension of credit to a borrower that is secured by the primary residence of the borrower.
- national emergency
means the national emergency by reason of certain terrorist attacks declared by the President on September 14, 2001, or subsequent national emergencies declared by the President by reason of terrorist attacks.
- nationally recognized statistical rating organization
means any nationally recognized statistical rating organization, as that term is defined in section 78c(a) of title 15.
- Native American
means an individual who is of a tribe, people, or culture that is indigenous to the United States.
- Native American Pacific Islander
means any descendant of the aboriginal people of any island in the Pacific Ocean that is a territory or possession of the United States.
- Native American-serving nontribal institution
means an institution of higher education that—
- Native American-serving, nontribal institution
means an institution of higher education, as defined in section 1001(a) of this title, that, at the time of application—
- Native Hawaiian
has the meaning given the term in section 7517 of this title.
- Native Hawaiian-serving institution
means an institution of higher education which—
- net price
means the average yearly price actually charged to first-time, full-time undergraduate students receiving student aid at an institution of higher education after deducting such aid, which shall be determined by calculating the difference between—
- net value
means the market value at the time of application of the assets (as defined in subsection (f)), minus the outstanding liabilities or indebtedness against the assets.
- noncampus building or property
means—
- nondepartmental student financial assistance program
means any grant, loan, scholarship, fellowship, or other form of financial aid for students pursuing a postsecondary education that is—
- nontraditional student
means an individual who—
- nurse
means a nurse who meets all of the following:
- occupational therapist
means an individual who—
- officer
has the meaning given the term in section 1019 of this title.
- operating expenses
means expenditures on lodging and meals, transportation, officials, uniforms and equipment.